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Rolling. Mom.

It's good.

Focus people, focus,

all right, dad.

Okay, here we go.

At one time, the name Kodak was synonymous with innovation. The Economist magazine even dubbed the

company the Google of its day. And it was a long, long day. Founded in 1888, Kodak dominated the photography market for over a century.

And in 1999, the company's market cap was almost $21 billion. But within a decade it was hemorrhaging cash, laying

off thousands of employees and selling off its most valuable assets. In 2012

Kodak filed for bankruptcy. What went wrong? Well, start with digital cameras.

Adding websites like Flickr and Facebook, and then combine those in smartphones.

And we are calling it iPhone.

The iPhone, for one example, launched in 2007. The very last year, Kodak turned to profit.

And by 2012, there were over 120 million smartphone users in the U.S US alone. Despite digital innovations of its own, Kodak

Bet The Farm on film.

The digital revolution hit everybody in the photography space, but some fared better than others.

In 2000, Fuji film was just as dependent on film as Kodak, but by 2013, the same year Kodak emerged from bankruptcy, imaging was just 13% of

Fuji's total revenue. Rather than hold on to the film business, Fuji grew and innovated in different directions and thrived.

The difference in strategy didn't go unnoticed.

...