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Eric Schmidt
Kodak bankruptcy: Why can't U.S. firms realize the potential of their discoveries?

Your editorial "A sad 'Kodak' moment" of Jan. 21 clearly identified the problem that resulted in Kodak's bankruptcy as a lack of vision by the executives. As you pointed out, it's ironic that Kodak invented digital photography in 1976 but didn't move forward aggressively. Kodak's failure to capitalize on a technology that it invented is not the first example of an American company lacking the vision to fully develop products into marketable items. Ampex invented video recording only to see foreign companies such as Sony move the technology forward and capture the major share of the market while Ampex disappeared. Xerox developed dry photocopying and...