Kodak and the Incumbent's Dilemma

A good version of the well-told tale of how Kodak invented digital photography – and then stifled it until it was too late for the company:

“Every digital camera that was sold took away from a film camera and we knew how much money we made on film,” Mr. Sasson said. “That was the argument. Of course, the problem is pretty soon you won’t be able to sell film — and that was my position.”

You can’t help but respect the patience of Steven Sasson, who invented the digital camera, but who sat tight while Kodak failed to take advantage of it.