Abstract: Kodak, founded in 1889 at one time employed over 140,000 people and had a market capitalization of $31 Billion. Today it employs several thousand and is a faint shadow of its former self. Why did this happen? This presentation, which is given to Boston University masters Innovation program students twice a year, describes the organizational, cultural, and strategic challenges that had this billion-dollar company fall to bankruptcy and almost to extinction. The answers are surprising and beyond the obvious.