Kodak Could Have Introduced the Digital Camera but Made This Mistake

Kodak was an iconic company and a leader in the film business. But did you know that Kodak, a company that went bankrupt in 2012, could have launched the first digital camera but passed on the opportunity?

In 1975, a Kodak engineer invented the digital camera. But even though Kodak had the early advantage and patented vital technologies that are still used in digital cameras, the company didn’t want to disrupt its film business with a camera that didn’t require film. By the time Kodak officially went digital, it was too late – competitors like Nikon and Sony had already crowded the field.

On today’s show, Glenn and Stu revisited this infamous story to illustrate how quickly the world is changing and how technologies can become obsolete almost overnight.

This article provided courtesy of TheBlaze.

GLENN: Hello, and welcome to the program. Coming up we're going to go into some of the predictions. I think today is tech predictions.

STU: Technology.

GLENN: And it's weird because a lot of these tech things are already happening. Yesterday we told you about KODAKCoin. This is the first time to be excited if you have anything to do with Kodak. It's like, they learned their lesson! You know the story about how they went out of business? How fast that happened? You don't know this? This is fascinating. So Kodak, you know, made film, obviously. They were the film dealer for everybody. They are state of the art film and film processing.

And they had a billion employees in Rochester, New York.

And they see the digital camera and they say, well, that's not going to take off. So they decided to not -- we'll let other people do the digital thing. We'll just stay in film.

One Christmas went by, and it was the first Christmas that digital cameras started to take off. They met again and they were like, no, we're a film company. Three Christmas later, they were almost out of business. It happened that fast. They went from the Titan to three years later, nothing. And they're like, maybe we should do the digital thing and it was too late. The first thing that I think Kodak has done that was smart, they just come out, announced it Monday or Tuesday, a KODAKCoin, and it's like Bitcoin. But here's -- and this is in one of my predictions, that some company is going to do this and they're going to use blockchain and Bitcoin to do it, and I said in the prediction that it would be Facebook or Apple or somebody like that.

Kodak is the one that comes out and does it. And what they've done is, you know how you have, you know, the photo thing, not Reuters, but ...

You always see. You go there for stock photos of news things. I don't know if you've ever seen it.

STU: Yeah, there's a few companies that do that.

GLENN: The big one, you sell your -- or you post your photo of, I've got the President picking his nose, and they put it on a service, and that service goes and everybody has it, and if you want to use it for television or radio or newspaper or something, you just buy it from them, and then that company pays you.

STU: Getty Images?

GLENN: That's what it is.

So Kodak has decided they're going to do it. And so what they do, in your camera, you will take pictures, and it will automatically go into blockchain and be held by you, and you can immediately post it. I mean, you take it, and it posts for sale from Kodak, and then there's no middleman. They're not negotiating anything. It's just posted. They buy it, they buy it through KODAKCoin. You get paid immediately, and it's simple, and there's no middleman. That's KODAKCoin.

STU: That's great.

GLENN: It's really brilliant.

STU: It's interesting because they have a big renaissance because they've tied themselves to this blockchain idea and that's happening to a lot of companies. A lot of them are like very strange stories, like this Chanticleer Holdings. Are you a big fan of them?

GLENN: Chanticleer? I've heard of it.

STU: They own several Hooters restaurants, nine Hooters restaurants, and they own some of the stock at Hooters of America.

GLENN: I'm trying to figure out the connection to blockchain.

STU: Right. That's where a lot of people are too. They said, a couple of weeks ago, that they would use blockchain related technology for its customer rewards program. And their stock went up 50%.

GLENN: That happened -- I saw that happen last year. There was another company that just has nothing -- they didn't know that they were putting blockchain. Nothing. They just put blockchain in their name. It was like, Glenn's Blockchain, and it went up. And the company has nothing to do with chain. They were just like, it's like money off of the blockchain.

STU: Really smart.

GLENN: That's Warren Buffett saying, don't invest if you don't know how it works. You know. Most people don't even understand what blockchain is, let alone Glenn's block change. That's somebody going, I know! Put some money in that blockchain thing!

STU: They're thinking, here's a new company, or a company that's changing its goals and they're working in blockchain. Get in now, get in early. Whoever owns that company, increases their cash by 50% or whatever it is. And then they can sell, and make a bunch of money and when it turns out they're actually do it, eventually the stock will come down but it's a good idea.

GLENN: I had a two-hour meeting with a guy from Silicon Valley who's a real mover and shaker and been instrumental in some of the new companies out now, the new tech companies and had a fascinating conversation.

Yesterday, Stu and I had a conversation with a blockchain and cryptocurrency guy.

And man, I hope he's right.

STU: Yeah, he was optimistic, I had say.

GLENN: Yeah, what was he say that he thought? Bitcoin would go up to? He said.

STU: It was 500,000?

GLENN: 500,000, I thought. And he didn't put a time period on that, did you.

STU: No, I don't think so.

GLENN: And he's been right about a lot of these things. I've sure he's been wrong, but he's been right about a lot of these things. There's a lot to learn like a theorem. He taught us about a theorem yesterday. I didn't release that was like an operating system.

STU: Yeah, it is. A lot of these secondary or even below that coins are built on. It's like, that's the operating system for these new, you know, Bitcoin types. I'm trying to explain this in a way that -- [overlapping voices] KODAKCoin is probably built on a theorem. Which is essentially the operating system for it.

GLENN: How is -- I was reading so have some stuff from Milton Friedman. We put it on a monologue on TV last night. But Milton Friedman talked about the internet and said the internet is going to be gigantic, and it will really change things. It will change government and everything else once you come up with a digital currency.

And here we are. We're at a digital currency. And you just wonder, how is -- how are the governments of the world, when push comes to shove, they're so far behind that they don't -- I remember having a conversation with somebody in Congress who sits on a committee for this kind of stuff, and I was talking to them about the technology that's coming. Me. Me. I have a rudimentary at best understanding of the stuff.

And they just kept looking at me and blinking, and they were in a room with a few people, and they were like, huh. We're going to have to look into that. Maybe we should -- we should look at, is there regulation that would -- we should be looking into? And I went, what? By the time you guys even figure this out, it's too late.

STU: Yeah.

GLENN: And they just -- they have no concept of what's coming.

STU: Yeah, people talk about this, and it's not a matter of whether cryptocurrencies fail because of the governments try to stop them. It's the idea whether governments will fail because of cryptocurrencies. So it's interesting. And I think like, these things obviously been in the news a lot. I think there's different levels of interest. Like the top tier people who are real investors and really know this stuff -- excuse me -- there's a secondary tier.

GLENN: Would you like some more NyQuil?

STU: The secondary tier of people who know a decent amount about it and invested in it. There are people who follow the news and are interested in things like a money supply that the government can't inflate. I think a lot of people in our audience are interested in that aspect of it, the idea that that thing could solve something we've been complaining about for decades, and it's not centralized through a government. I think there's a level of interest there. I think at the bottom of it is just, I like hearing stories about people getting megarich off of things. I love those stories are, like, someone invests a dollar -- we had someone who wrote in yesterday to one of our stories on Facebook and said, they got in an argument with --

GLENN: With their wife.

STU: -- in 2017 about buying 500 bitcoins.

GLENN: Oh, my gosh.

STU: Now, 2013!

GLENN: How much was that?

STU: Let me look at the Bitcoin charge here real quick.

GLENN: I didn't realize was 500 Bitcoins. Somebody in our audience, we have to talk to you. If that's you, you have to call in.

STU: Oh, my gosh.

GLENN: So how much was it?

STU: I'm looking here.

GLENN: He had an argument with his wife, and she said, we're not going to put money in Bitcoin. And he said, honey, right now it will cost us how much?

STU: I'm looking that up.

GLENN: We should invest 500 Bitcoin.

STU: Can you imagine? Can you freaking imagine.

GLENN: 2013, that had to be --

STU: 2013 we are at --

GLENN: It had to be 200?

STU: To 2013 it changed -- that was the year that it had its first -- what they were calling at the time a bubble where it peaked at a thousand dollars. Okay? But then it ran down with it was -- he said 2012 or 2013. So 2013, it was, for most of the year, about $100. At the beginning of the 2013 it was $13.

GLENN: 500.

STU: So that would have been $25,000, right? 50 times 500 is $25,000. So that's a good -- so you think, I don't know.

GLENN: Now do 500 times let's say $15,000.

STU: $15,000 will get you a return of $7.5 million.

GLENN: Are they still together? Are they still together? We have to track that listener down.

STU: Yeah, he said -- we had the argument, I lost the argument, and I'm still poor was the way he described it. $500 Bitcoins, he must have had some money. But $7.5 million is better than 8,000 in money, at least that's my impression.

GLENN: Is it? I'm not sure. That common core math?

STU: I have to show my work. But that's nothing compared to the goes who founded Ripple. Now Ripple is another cryptocurrency. You have the Bitcoin, theorem, light coin.

GLENN: Ripple seems pretty shady, only because they announced that Ripple was going to go on to coin base, and if --

STU: They didn't announce that. That is a rumor. There's no reason to believe that that's happening at this point.

GLENN: No, I know that but I thought it came from them.

STU: No, I don't think so.

GLENN: Well, somebody -- and it looks pretty -- it looked pretty solid and it went from like 1.50 to 350, 3.90, something like that.

STU: And it's in the high one dollars right now. But it was also 0.06 -- or 0. -- 0.6 cents in 2017.

0.6 cents is what it was. You could have bought these things for 0.6 cents. Now it's different from let's say Bitcoin, as I was talking about, it's not centralized. Right? And it is -- there's a limited amount of Bitcoins that will ever be created, so there's no inflationary risk here. Most of the Bitcoins, 80 some odd percent of them are already out. So there's not an inflation there.

Ripple, they created 100 billion of three things upon inception. So they created 100 billion of them, and the way they gave them away, they did giveaways, they did all sorts of things, but they've only released a third of them. So 66 billion of these Ripple coins are held by the company, which is like three guys who created them.

They're currently about $2 per coin. Okay? So that's a lot of money.

The way this breaks down, Forbes looked at it. It's actually insane. The cofounder and CEO, Chris Larson, who stepped in, he now serves at the executive chairman. He has 5.19 billion Ripple tokens.

And his personal holdings, and a 17% stake in the --

GLENN: He's not $5 --

STU: No, more than that. His net worth currently -- and this is slightly higher than it was now, but net worth personal, $37.3 billion. That would make him the 15th richest American on the 2017 Forbes 400 list.

GLENN: This stuff is going to -- this stuff is going to change the world. Think of the power shift. Here's the guy who had nothing!

And now he's got $37 billion! I mean, you know.

(Laughter.)

In the wrong hands, we -- Hooters is going to be where Congress meets!

(Music).

STU: I got news for you. They're already meeting there.

GLENN: It is a Hooters. Without the wings.

The Purple Heart is reserved for those wounded or killed during battle. Awarded by the President, the medal has George Washington's image right there on the front of it. Make no mistake, it is reserved for heroes. True heroes. Men and women who've faced death and still persevered. Soldiers who fought in battle at the cost of their limbs, their lives, or their inner peace. John F. Kennedy earned a Purple Heart for his heroism as a gunboat pilot in 1944. John McCain received one for, well, we all know his horrific story. Colin Powell. Roughly one million Purple Heart medals have been awarded to veterans, all of whom were determined to have fought valiantly, with courage and heart.

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So it was a bit of a head-scratcher to hear comments from Democratic Representative Steve Cohen from Tennessee and self-appointed "Leader in Effort to #ImpeachTrump." During a House Oversight Committee hearing questioning Peter Strzok, Cohen said, perplexingly, that Strzok deserves a Purple Heart. You know, because he's injured by all those mean text messages that HE sent?

As we've seen, other than Cohen's fanboy praise, Strzok hasn't gotten off easy. Thankfully. The Department of Justice's Office of the Inspector General wrote: "We did not have confidence that Strzok's decision to prioritize the Russia investigation over following up on the Midyear-related investigative lead discovered on the [Anthony] Weiner laptop was free from bias."

Lack of confidence. I believe that's one of the criteria for a different medal. Not a Purple Heart, though. Sorry, Strzok, you'll have to get your trophy elsewhere.

Time mgazine is back at it again, reporting the real news, doing the proper journalism. One of their latest articles is sure to earn them a Pulitzer. Surely. The article is titled, "Women Are Buying Up Plan B Because They're Terrified of the Future Supreme Court."

Here's how the article opens:

Within hours of Supreme Court Justice Anthony Kennedy's retirement announcement last month, Emily Hauser was standing at a drugstore counter asking a pharmacist for two packages of Plan B. At age 53, she didn't need the emergency contraception pills — in fact, she wasn't sure who would, or when. But Hauser bought them anyway.

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I like that the article sets up Kennedy's retirement as an apocalyptic event. A recurring theme in the mainstream media, now that I think of it, especially lately. Here's the gist of it:

Across the country, Americans are stockpiling emergency contraception in light of Justice Kennedy's retirement and President Donald Trump's Monday nomination of Brett Kavanaugh. The nation's highest court is on its way to having a conservative majority, making threats against Roe v. Wade seem more dire than ever.

A good article includes backstory. History. The context. Here's what Time had to say about the sudden influx—some would say panic—in birth control:

To understand the interest in buying up Plan B, you need to brush up on Roe v. Wade. Some background: The court handed down the 7-2 decision in 1973, confirming that a woman's right to terminate her pregnancy is covered by the Fourteenth Amendment. Progress has been rocky since then.

Of course they reduce the issue to a series of strawman fallacies.

Ah, yes. Of course they reduce the issue to a series of strawman fallacies. At this point, it's impossible for those inflicted with Trump Derangement Syndrome, and now Kavanaugh Derangement Syndrome, to have a civil conversation. They certainly aren't going to budge in their opinion. Our main goal, obviously, is to connect to them as fellow human beings, living in the same chaotic world, and, hey, maybe along the way they'll admit that, maybe, they're a little more biased and deranged than they previously realized.

If all you knew about American politics came from The New York Times, CNN, The Washington Post, or MSNBC, you'd think that a "Blue wave" is about to swamp the country, with hip, millennial geniuses like Alexandria Ocasio-Cortez surfing the crest of the wave. In fact, you would already think Ocasio-Cortez is the greatest hope for America since Barack Obama.

America is a very large country, and reality is usually more complex than the media lets on. But, since the media already has their narrative and superstar Ocasio-Cortez set for this November, there's no room for another young, minority, female, child of immigrants, political outsider, from the ultimate blue-wave state of California, named Elizabeth Heng. Well, there probably would be room for a story like that, except that she's a conservative.

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Thirty-two-year-old Elizabeth Heng is running for Congress against Democrat Jim Costa, in California's 16th district. It's been 40 years since a Republican won in that district.

In the early 1980s, Heng's parents fled the violence in Cambodia and immigrated to the U.S. In 2008, after graduating from Stanford where she was student-body president, Heng opened several cell-phone stores with her brothers in the central San Joaquin Valley. Running her own business and managing 75 employees opened her eyes to a not-so-dirty secret about capitalism trying to survive the virus of progressivism. She says, "I saw firsthand how government regulations impacted businesses negatively. I constantly felt that from Washington, D.C., and Sacramento, they were saying that I was everything wrong with our country, when all I was doing was creating jobs."

That's when she decided to venture to Washington, D.C., where she worked for six years learning the ins and outs of legislation and campaigning. She ended up working as a director for President Trump's inauguration ceremony, a job she managed while also finishing her MBA at Yale.

Fiscal responsibility isn't quite as sexy-sounding as free college for everyone.

One of the biggest lessons she learned working in Washington became the platform she is now running for office on: fiscal responsibility. She says, "In a family or a business, we don't suddenly act surprised when a budget comes up for the year. We get it done."

What a concept.

Still, fiscal responsibility isn't quite as sexy-sounding as free college for everyone. So, don't expect Elizabeth Heng to replace Ocasio-Cortez as the media darling anytime soon.

Desperate as they are to discredit Supreme Court justice nominee Brett Kavanaugh, progressives have come up with a brilliant new angle for their attacks on President Donald Trump's candidate: his "frat boy"-sounding first name.

"We'll be DAMNED if we're going to let five MEN—including some frat boy named Brett—strip us of our hard-won bodily autonomy and reproductive rights," tweeted pro-choice organization NARAL.

“Now, I don't know much about Kavanaugh, but I'm skeptical because his name is Brett," said late night show comedian Stephen Colbert. “That sounds less like a Supreme Court justice and more like a waiter at a Ruby Tuesday's. 'Hey everybody, I'm Brett, I'll be your Supreme Court justice tonight. Before you sit down, let me just clear away these rights for you.'"

But as Glenn Beck noted on today's show, Steven Colbert actually changed the pronunciation of his name to sound French when he moved from South Carolina to Manhattan … perhaps to have that certain je ne sais quoi.

Watch the clip below to see Colbert attempt to explain.

Colbert's name games.

Desperate as they are to discredit Supreme Court justice nominee Brett Kavanaugh, progressives have come up with a brilliant new angle for their attacks on President Donald Trump's candidate: his "frat boy"-sounding first name.


This article provided courtesy of TheBlaze.