As with many great inventions, the name has little relevance on the actual product. Thus TIVO according to TIVO, Inc has no meaning other than a marketable name. Many people have speculated on the meaning of TIVO and the one that seems closes is Television In Video Out, but again that is only an idea.
I have mixed feelings about this product, and will probably share a post on another day as to my issues surrounding TIVO. Long story short, the product when working is great, but if it ever breaks down good luck getting anyone to help you resolve the issue.
If you don’t have TIVO or DVR I would recommend getting it, because despite the headaches at times, the joy of fast forwarding commercials and watching TV on your schedule is priceless.