[ernestbro]

Kodak failed because the entire verticalized printed photo industry was demonetized. It's the same way the newspaper industry has shrunk: yes people still take pictures and read news, no there isn't an obvious way for large companies to extract value as there used to be. Printing chemicals and large printing presses are very expensive and hard to reproduce, meanwhile while digital comes along and easily replaces them. And if Instagram dies 10 others can take their place.