It was non-trivial for Kodak to replace the $16B in revenue they had from film. Having been a student in Rochester during Kodak's peak revenue, I have no doubt

It was non-trivial for Kodak to replace the $16B in revenue they had from film. Having been a student in Rochester during Kodak's peak revenue, I have no doubt they saw digital coming, but what to do about it was less than obvious. If Kodak could have been Adobe, Flikr, and Instagram all rolled into one, they still wouldn't have same revenue they had in the 90s. I wrote about this before here: http://baus.net/will-there-be-a-third http://baus.net/will-there-be-a-third