Ted discusses the news that Eastman Kodak filed for bankruptcy Thursday. He says it comes as no surprise, but could signal a sad end for what was once a giant American company.
Ted says some businesses do pull out of Chapter 11 and he hopes a plan develops, but if it doesn't, it's over. It's not that Kodak didn't want to adapt to the digital age, but when consumers think of you as a film company for 100 years, it's hard to present yourself as cutting-edge in the digital age.
Now, a whole generation is growing up not knowing what a film negative is. It started as film in a camera and you used it sparingly - you took your time getting your shot, and then it was sent to a lab and then sent back and the whole thing used to take about a week, and then a day, and then minutes, but it was still enough time to think about what you wanted to do with the image.
Now, a teeanger can come up with an idea to send a photograph he or she thinks is private, take the picture, and send it all within seconds, only to find out they might spend a lifetime regretting it.