Yahoo

In 2005 it was one of the major players in the online advertising market, but it
underestimated the importance of the search service and sought instead to become a
media giant. Thus, consumer trends and the need to improve the user experience were
overlooked. Although it had a large number of users willing to watch content, Yahoo
failed to make money to gain scale. Plus, she missed out on a lot of opportunities that
could have saved her. In 2002, they came close to buying Google, but Yahoo's CEO
refused to go ahead. In 2006, he had the opportunity to buy Facebook, but when they
lowered his offer, Mark Zuckerberg declined. If Yahoo had taken some risks, maybe
today we'd all be yahooing instead of googling.

Nokia

Founded in Finland, it was the first company in the world to create a cellular network
that enabled it, in the late 1990s and early 1990s, to be the global leader in mobile
phones. With the advent of the Internet, other companies began to understand how
data, not voice, was the future of communication. Nokia misunderstood the concept of
software and continued to focus on hardware because its management feared
alienating existing users if they changed too much. They refused to lead the drastic
change in people's usage experience, which led Nokia to develop a complex operating
system that didn't fit the market. The company overestimated the strength of the
brand and believed that, even late to the smartphone market, they could succeed. In
2007 Steve Jobs launched the iPhone. When Nokia decided the following year to
compete with Android, it was too late.

Kodak

A paradigmatic case of a company that refused the change it could lead. "We
developed the first digital camera, but we didn't get approval to sell it for fear of the
effects on film sales," recalls Don Strickland, a former Kodak vice president.

The company dominated the roll-film photography market for most of the 20th
century, but it missed the chance to lead the digital photography revolution, recalls
Steve Sasson, a Kodak engineer and inventor of the first digital camera…in 1975! ! His
invention dispensed with the roll and the reaction of the company's management to
Sasson was: "very smart, but do not tell anyone." In other words, Kodak was unable to
identify and lead a disruptive technology. He filed for bankruptcy in 2012.

Source: https://www.infobae.com/economia/2020/01/26/el-error-fatal-de-no-innovar-a-tiempo-20-
historias-de-empresas-lideres-que-tropezaron-quedaron-rezagadas-o-simplemente-desaparecieron/