Commentary: Kodak's Non-accidental "Death"

On March 14, 1932, 77-year-old George Eastman was unbearable with the disease and chose to end his own life. In his suicide note, he wrote: "My mission has been completed. What are we waiting for?"

A prophecy. On January 19, 2012, Kodak, which he personally created, announced that he had filed for bankruptcy protection. The fall of Kodak at the age of 131 is not surprising, but it hurts.

As one of the industrial symbols of the United States, Kodak has had a glorious history, carrying too much glory and dreams. Once upon a time, one by one, the "Kodak moment," which was fixed, was either laughter or sadness. With the growth of generations of generations, we recorded the bits and pieces of life. And Kodak's slogan "Stay every moment, don't let her slip," has remained in the memory of many people.

However, just as people are always dying, even great companies have a day to withdraw from the stage of history. The famous Austrian economist Joseph Schumpeter once put forward the concept of “creative destruction”: with the destruction of old products and old production methods, the birth of new products and new methods was welcomed. Therefore, innovation often means the death of old companies that cannot keep up with the trend of the times.

In the history of market economy development, the proof of this theory can be seen everywhere. The gas lights were extremely hot, but they were untouchable before Edison's invention; Sony Walkman was once popular but disappeared quickly after the appearance of the Apple iPod; after the rise of the electronic platform, traditional bookstores that once spread all over the streets were from people. Vision disappears...

In the trend of science and technology, we will retreat if we do not advance; the wheels of history never wait for people. The Kodak operation was too slow and missed too much. As the inventor of digital imaging technology, Kodak did not convert its technological advantage into commercial value in a timely manner. At the same time, the continuous expansion of mobile storage devices and the emergence of new display media such as electronic photo albums have made photographs break through photo restrictions, and the rise of various social networks has made photo sharing more convenient. In the face of all this, Kodak, the leader in traditional imaging products, reacted too slowly and was eventually overtaken by latecomers. He watched as Kodak's time went further.

The destiny of Kodak's great decline is impressive. In all fairness, it is not easy to create more than a hundred years of glory in the ever-changing technology industry. "Kodak moment" has become history, but there is no doubt that the new technology companies are continuing to change our lives with technologies that people cannot envision.

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