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Kodak was a chemicals company that thought it was a camera/photo company. Fujifilm embraced being a chemical company and diversified into medical, cosmetics, materials etc and survive to this day.

The best piece I've read on that distinction was in The Economist. Along with clarifying what happened with those companies in that industry, I've carried with me to this day the lesson therein from Kodak—since its investment in digital photography paid off well in the short term—of how decisions can immediately look wise but ultimately be fatal.


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