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From the 1980 movie about Tesla with Orson Wilson playing JP Morgan...
In the late 1880s, Tesla and Thomas Edison became adversaries in part because of Edison's promotion of direct current (DC) for electric power distribution over the more efficient alternating current advocated by Tesla and Westinghouse. Until Tesla invented the induction motor, AC's advantages for long distance high voltage transmission were counterbalanced by the inability to operate motors on AC. As a result of the "War of Currents", Edison and Westinghouse went nearly bankrupt, so in 1897, Tesla released Westinghouse from contract, providing Westinghouse a break from Tesla's patent royalties. Also in 1897, Tesla researched radiation, which led to setting up the basic formulation of cosmic rays.
In 1897, at age 41, Tesla filed the first radio patent (U.S. Patent 645,576). A year later, he demonstrated a radio-controlled boat to the US military, believing that the military would want things such as radio-controlled torpedoes. Tesla claimed to have developed the "Art of Telautomatics", a form of robotics, as well as the technology of remote control. In 1898, he demonstrated a radio-controlled boat to the public during an electrical exhibition at Madison Square Garden. Tesla called his boat a "teleautomaton". In the same year, Tesla devised an "electric igniter" or spark plug for Internal combustion gasoline engines. He gained U.S. Patent 609,250, "Electrical Igniter for Gas Engines", on this mechanical ignition system. Tesla lived in the former Gerlach Hotel, renamed The Radio Wave building, at 49 W 27th St. (between Broadway and Sixth Avenue), Lower Manhattan, before the end of the century where he conducted the radio wave experiments.
A commemorative plaque was placed on the building in 1977 to honor his work. Remote radio control remained a novelty until WWI and afterward, when a number of countries used it in military programs.