When Kodak and Polaroid went to war(steveblank.com) |
When Kodak and Polaroid went to war(steveblank.com) |
1: https://petapixel.com/2010/08/05/the-worlds-first-digital-ca...
Having been given 30-40 years of financial data on the effect of digital photography squeezing them out of one lucrative sector they wasted all that unique foreknowledge on ignoring digital photography in the consumer space as well.
It's not at all the same as like sears failing to migrate to online shopping. Kodak was in a situation where there industry just pretty much died. The only real way they could have pivoted would have basically been to become Apple and invent the Iphone first.
Fujifilm, Kodak’s later main competitor, was in the same boat and they just leaned into chemicals more.
Fujifilm survived and then went back to photography and now makes instant photography film again. They also make digital cameras that have a decent following.
Kodak could have probably done the same. They were probably right to to not invest in digital, but they were probably wrong to not invest in chemicals, their actual main strength.
It is true that Kodak lost an opportunity to be a 'first mover' in consumer digital cameras. Would it have made much difference in the long run? probably not.
When Amazon was still focused on selling books, Sears had a huge array of non-book stuff that could be bought and shipped to their store for free, or delivered anywhere at a fairly low cost. I bought all kinds of stuff that way, at a time when buying anything online still seemed kind of novel.
For a very long time the Sears Parts website was the foremost place to find appliance parts and documentation online.
Sears was even one of the founders of Prodigy, years before Sir Tim Berners-Lee invented the Word Wide Web.
FFS, they had a rich history of taking orders and delivering products that started over a century ago.
So, one might ask: If the old trope of "they didn't understand teh Intarwebs, herp herp" is false, then what was it that brought ruin to Sears a little bit quicker than some of their fellow mall anchor peers?
And that answer is simple: Standard corporate raider tactics.
https://janweirlaw.medium.com/how-hedge-funds-profit-from-ba...
The financial system and the economic system encourages rolling the dice on (e.g) Tesla, but not doing the same on (e.g.) Ford. Furthermore, the downside of tying (executive) compensation to results is it "inspires" short term thinking, short term vision and new Coke results.
Sure there are a handful of exceptions and outliers (e.g., Apple) but isn't there always? Is it really a dilemma when the system is strongly wired to keep you on a narrow path?
Car would have cost twice as much and that allows me to easily buy 10 years of fuel and running costs let alone accounting for depreciation. Charging standards and user experience needs to be better still.
Hoping in 5 years or so when my other car is ready to be replaced that the decision goes the other way, but we'll see. For now it's a no go.
I expect that Toyota will have products ready when the time is right.
That's when I learned class action lawsuits only benefit the lawyers.
There was a USAF thing for "we must control the high ground" in the 1960s and 1970s. The USAF had a space school during the Mercury-Gemini-Apollo years. The USAF wanted manned fighter aircraft that could reach low orbit, and proposed programs for decade after decade. It's a USAF thing. If you've had any involvement with the USAF, you know that there are pilots, and there's everybody else. The pilots are in charge. (Among the pilots, there are fighter pilots, and there's everybody else.)
https://prospect.org/economy/sears-gutted-ceo/ https://www.cnn.com/2018/10/16/investing/retail-sears-privat...
Well that's straight up false.
The American Dream mall in East Rutherford, NJ opened in 2019.
Even later they had some pretty good models but were just a touch too late into the consumer market vs. others like Sony, Fuji and Canon when the market exploded. I'm not really sure anyone made a lot of money in this market.
Investing in digital cameras was going to require many years of R&D with little payback. Someone like Sony could do it because they have all these other business sectors to subsidize development.
If Kodak couldn’t go into the chemical business, I’m not sure what else they could have done then.
https://www.democratandchronicle.com/story/local/2016/08/18/...
It's actually funny how Fujifilm's single largest generator of revenue is again analog film
Kodak management's mistake was laser-focusing on consumer imaging, and spinning off all of its other businesses like chemical, medical, office systems, etc. Consumer imaging was the one thing that dropped to zero in value as it became a commodity, and Fujifilm survived through those other businesses.