Name: The Rise and Fall...and Rise of Kodak
Uploaded: 2021-08-17T02:36:28.000Z
Duration: 15 min 24 s
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For nearly a century Kodak completely owned

♪ Got so much style with that silly old smile ♪

♪ I'm gonna get you with a Kodak kiss ♪

Any memorable moment from a child's first steps

to a wedding, was branded a Kodak moment.

But recently a Kodak moment has become, let's say

At some point, I think became a crypto company.

And now apparently it's a pharmaceutical company.

In 2020, the American film giant has made headlines

for it's foray into, of all things, pharmaceuticals.

Specifically to treat COVID-19, with the help of

And if you think that's kind of odd, you're not alone.

Just so many weird themes of America today, I think are

wrapped into this story which is why it's so fascinating.

[MSNBC News Announcer] $765 million loan for Kodak

They're doing something that's a different field.

And it's a field that they've really hired some of

And the story of how Kodak is trying to become

a pharmaceutical company is just as strange as

This is how Kodak went from selling nostalgia

It once symbolized everything that was great about America.

For the better part of a century, Kodak could be

considered the closest thing to a monopoly without

Founded in 1888 by George Eastman, Kodak was born

with one mission, to revolutionize the world

He wanted the camera to be as ubiquitous and as easy

And he adopted a business strategy that says

to the customer, "You push the button and we do the rest".

an extremely aggressive business strategy.

Look at what happened in the first 40 or 50 years

There were a lot of little camera companies and a lot of

photo companies and photofinishing companies that sprang up.

It got into the camera business by buying a whole bunch

of camera companies that not always wanted to get bought.

Typically that doesn't happen by just soft management.

By acquiring these companies Kodak was able

to not only dominate the camera market but the film market

One of the reasons it became so powerful is

that Eastman understood either sell the cameras cheaply

or give them away because we're gonna make all our money

You bought your Kodak camera where you put Kodak film inside

Well if you brought your film in to get it

developed, you brought it to a Kodak store.

Throughout much of the 20th century Kodak

Every product launch from cameras like the Brownie

and the Instamatic, to engineering feats in film

like Kodachrome and Ektachrome were a hit.

♪ Momma don't take my Kodachrome away ♪

Kodak didn't just set the tone for the film

and camera industry, it was the film and camera industry.

of the film market and 85% of the camera market

Employment peaked in the eighties at like 150,000.

This wasn't just a fortune 500 company, this was

But Kodak didn't just do photography because of

the chemicals used in film, they also developed

blood analyzers, x-rays, pharmaceutical manufacturing

What Kodak didn't know at the time was an invention

by one of its own engineers in 1976, would eventually lead

Kodak engineer Steven Sasson, invented the prototype

that would eventually become the digital camera.

You saw pictures of it and it was obviously not

Kodak saw the writing on the wall that their days,

while still decades away were ultimately numbered

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The Rise and Fall...and Rise of Kodak

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