7. During a speech in 1991, the CEO of Britain’s major jewelry company, the Ratners Group, commented on the products saying, “People say, ‘How can you sell this for such a low price?’ I say, ‘Because it’s total crap.’ ” Subsequently, he was fired, and the company lost £500 million and nearly collapsed.
8. Kodak developed the first digital camera in 1975, but kept it a secret fearing it would threaten their photographic film industry. Eventually, the competitors who did market digital cameras drove Kodak to bankruptcy.
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