Kodak — Invented Digital Photography, Then Died

Kodak's 1975 invention of the first digital camera was buried to protect film margins, leading to a 2012 bankruptcy. By the time it acted, competitors like Canon captured 35% of the market, and Kodak's value plummeted from $31 billion to virtually zero—a 100% erosion 40% faster than the typical industry pioneer. This self-inflicted wound cost 145,000 jobs, wasting 2.5 times more market cap than the average fallen tech giant. The irony of holding the invention yet ignoring it still haunts innovation textbooks, marking a $31 billion lesson in complacency.