Thursday, January 19, 2012

Kodak in Chapter 11

Sadly Kodak was put in Chapter 11 today. The US system is weighted towards keeping the business going as opposed to the UK system of administration (pre-pack being closer to Chapter 11) so something may yet rise from the ashes.

However this is quite a significant point in the transition to digital and marks the end of a 131 year old analog giant of the US economy. Basically Kodak did not accept fast enough that a large number of consumers would move from film to digital believing that brand and "habit" would be enough to keep consumers locked in the past. A very good parallel would be the paper based book / journal business.

As Iolo suggests things are really moving now - perhaps because financing to prop up "zombie" business models is not about anymore.

On the subject of copyright and IP protection online we need new rules to govern in the digital age and SOPA and PIPA (does it look good in a wedding dress ?) are doing a great job in sparking a debate - hopefully at the end of it a decent set of regulations will emerge after everyone has had their say. Both the uber censors and the  "property is theft" nutcases are equally wrong.