Insightful comment from Nick Bilton, on why Facebook didn't create Instagram - and nor did Kodak, or Apple, or Google:

Even if Polaroid or Kodak could have developed Instagram, it’s likely that the project would have been killed anyway. What would be the reaction of almost any executive presented with a business plan to save the company with an iPhone app that had no prospect for revenue?</p<p>

Companies that try to change the fan belt while the engine is still moving usually end up losing a few fingers.

"Eastman Kodak Co. said Thursday that it will have trouble staying in business over the next year if it can't squeeze more money out of its patent portfolio or raise new funds by selling debt.

"The warning came in a dense filing with the Securities and Exchange Commission as the imaging company reported that its cash supply dwindled again in the third quarter, even as it drew $160 million from its credit line.

"Kodak is struggling to rebuild its operations around commercial and consumer printing as sales of its traditional film and photography gear tail off. It has depended heavily on proceeds from intellectual-property lawsuits to fund its turnaround plan, but that strategy has faltered this year as settlements dried up."

"After 120 years of life, Eastman Kodak (NYSE:EK) is about to become a distant memory like the images its innovative technology captured in photography. What caused the downfall and demise of this iconic company?

"Entrepreneurial failure."