Kodak was once a dominant company in film but failed to adapt to digital photography. While Kodak invented the first digital camera, it did not fully embrace digital and instead tried to protect its film business. It invested in digital but aimed to use new technologies to boost film printing rather than create new business models. In contrast, Fuji explored adjacent industries and thrived despite losing its film monopoly. The lesson is that disruptive change requires completely new ways of thinking about business, not just new technologies. Kodak focused on technologies over transforming its business model for the digital age.