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Kodak: The $30B Mistake – They Invented Digital Photography and Still Failed Kodak invented the world's first digital camera in 1975, held the patents, and had a 20-year head start on every competitor. Yet by 2012, the photography giant that once controlled 90% of U.S. film sales filed for bankruptcy, watching $30 billion in market value vanish. This is the story of how the innovator's dilemma, fear of cannibalization, and cultural paralysis turned innovation into self-destruction. Numbers: Peak market capitalization: ~$30 billion (mid-1990s) Peak revenue: ~$20 billion (mid-1990s) U.S. film market share: 90% (1976) U.S. camera market share: 85% (1976) Rochester workforce: 60,000+ employees (peak) First digital camera: 1975 (8 pounds, 0.01 megapixels, 23 seconds per photo) Jobs cut 2003–2012: 47,000 Global photos in 2000: 80 billion (99% film) Global photos in 2012: 380 billion (3% film) Bankruptcy filing: January 19, 2012 Chronology: 1888: George Eastman launches Kodak with "You press the button, we do the rest" 1975: Steve Sasson invents the digital camera at Kodak 1976: Kodak controls 90% of film sales, 85% of camera sales in U.S. 1980s–1990s: Digital technology patented but buried to protect film profits Late 1990s: Competitors (Sony, Canon, Nikon) commercialize digital cameras 2001: Kodak acquires Ofoto but strategy still tied to printing/film 2010: Instagram launches; smartphone photography explodes 2012: Kodak files Chapter 11 bankruptcy 2013: Emerges as smaller commercial imaging company #Kodak #BusinessFailure #InnovatorsDilemma #TechHistory #DigitalPhotography #CorporateStrategy #Disruption #RiseAndFall #BusinessDocumentary #ClaytonChristensen