Kodak filed for Bankrupcy this month and I believe this is a wake up call to all the small, medium and big tech companies out there who are resting on there laurels based on their performance so far. The million dollar lesson which we should learn from Kodak’s demise is that a company has to innovate and stay relevant in their business. They have to innovate in order to stay relevant, they have to stay relevant so that they can survive in their current business, they have to survive in their current business so that they can look for expanding into new business. Kodak had everything going a few decades ago and as per records it had the right mix of patents and innovation to actually make a huge mark in digital camera and cell phone industry. Kodak really had a shot at launching a kPhone just like an iPhone and be relevant on todays stock market index, but somehow they didn’t take advantage of all these facts. Its sobering to see a behemoth like Kodak go down under and it serves as a lesson for every company operating in tech-biz to keep innovating and stay relevant or risk obscurity.