Once upon a time, bread came in unsliced loaves. Then, in 1928, Otto Frederick Rohwedder invented the bread slicer.

When a small-town baker in Chillicothe, Missouri, took a chance and bought Rohwedder's new bread slicer for his bakery, the result was a wildly popular new product — “Sliced Kleen Maid Bread.” It not only changed how we eat, it helped create a new market for an appliance called the toaster.

On the way, sliced bread became a metaphor and a symbol of innovation.

At AMD, we believe that innovation is the engine of progress. We also believe that innovation can’t arise without open, competitive markets that give all innovators a fair shot to bring their discoveries to market. Just as Mr. Rohwedder did with his bread slicer.

After all, the results of competitive markets benefit everyone. And, when you think about it, sliced bread is the greatest thing since... competition.