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Vishu Bheda
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Medial • 7m
In 1975, a Kodak engineer built the world’s first digital camera. It could have changed photography forever. But Kodak dismissed it, saying: “That’s nice—don’t tell anyone.” What happened next became one of the biggest business mistakes in history. Kodak was once a giant in photography, controlling 80% of the U.S. market in the 1980s. Their business thrived on selling cheap cameras and making big profits from film. In 1975, a Kodak engineer invented the first digital camera. But the company rejected it, fearing it would hurt their film business. Instead of embracing change, Kodak stuck to film. Meanwhile, companies like Sony and Canon focused on digital cameras. By 2007, smartphones with cameras took over, and Kodak couldn’t keep up. In 2012, they filed for bankruptcy. The lesson? Holding onto the past can lead to failure. To stay successful, you must take risks and adapt—just as Kodak’s founder once believed. Follow me Mr Z for more business lessons like this!
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