The invention of television was tied into the economics of the time: its inventor was funded by a rich banker on San Francisco. It was the time of the gold rush and investing in inventions might have seemed like it could have similar payoffs.
Philo T. Farnsworth "Father of Television," was born on August 19, 1906, on Indian Creek in Beaver County, Utah. His parents expected him to become a concert violinist, but his interests drew him to experiments with electricity. At the age of 12, he built an electric motor and produced the first electric washing machine his family had ever owned. -aoc.gov