> It's often said that Kodak fell because they didn't invest in the technology early enough and were too late by the time they started to do so in the 90s.

I think this is often used as an example of the "innovators dilemma" i.e. Kodak's cash cow was film sales. Every digital camera sold would potentially eliminate a film customer forever. So internally there was just an unwillingness to admit that the future was digital. So many people thinking things like "serious/pro photographers will never abandon film" or "digital will never have the quality of film" and for a little while they were right. By the time they realized they were wrong it was too late.

What's also odd is that they had really great image sensor technology, used heavily in scientific and medical instruments, and somehow lost the lead there too.