The paper is dedicated to the 65th anniversary of theinvention of the revolutionary electronic component that actuallychanged our way of life—the transistor. It recounts the keyhistorical moments leading up to the invention of the firstsemiconductor active component in 1947. The meaning of theblend “transistor” is explained using the memorandum issued byBell Telephone Laboratories. Certain problems appeared in theengineering phase of the transistor development and the newcomponents obtained as a result of this research are reviewed.The impact of this invention on the development of powerelectronics is being emphasized. Finally, the possibility that themost important invention of the 20th century has been conceivednot once but twice is discussed.