Sunday, March 30, 2008


I was in Rochester airport yesterday, suffering a very long wait, when I struck up a conversation with someone who used to work at Kodak, 34 years worth, who ended up in a fairly high position in the research department.

Anyway, the stories make you wonder at capitalism. Mainly they were about the poor decisions of upper management. Clearly I'm only getting one side of the story, but still pretty interesting. The tales of the CEO pushing disc film, something I've never heard of, despite assurances from engineers it wasn't that great. Mountains of the stuff was buried in a wasteland somewhere. The development of a magentic tape to replace silver halide film, which was promptly trashed on the words that silver halide would always rule the market. Could have made Kodak a leader in digital photography. The Polaroid lawsuits.

Makes one believe in Schumpeter, anyway.

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