Invention of the first digital camera
TL;DR
Kodak invented digital camera in 1975, refused to cannibalize film business, went bankrupt in 2012 as competitors ate its future.
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Primary source documenting the invention of digital photography at Kodak in 1975 and management's rejection—the canonical example of autophagy failure, where a company refused to cannibalize its profitable business and was instead consumed by competitors.
Key Findings from Sasson (2007)
- First digital camera created December 1975: 8 pounds, 0.01 megapixels, 23 seconds per image
- Sasson titled his 1976 demo 'Film-Less Photography'—management found it 'not popular'
- Kodak held 90% U.S. film market, 85% camera market at the time of invention
- 1978 patent granted; no public disclosure until 2001—26 years after invention
- 1989: Sasson developed first DSLR at Kodak; company declined to sell it
- 1997: Kodak market cap peaked at $31 billion; 2012: bankruptcy ($5.1B assets, $6.8B debt)
- 2009: Sasson received National Medal of Technology and Innovation from President Obama