As harsh as its sounds, businesses come and go.
Eastman Kodak, the creator of the "Kodak moment" that ruled the world for decades, filed for bankruptcy reorganization this week, a victim of mistaken judgments that produced consumer indifference.
Given the ongoing campaign debate about capitalism, Kodak's demise represents a good example of what's known as creative destruction — the market forces that create new businesses even as they drive others into collapse.
One analyst, speaking quite expansively, said this week that "everyone is saddened" by Kodak's bankruptcy because "there's kind of an emotional connection to Kodak for many people."
But if all those people the analyst said are "saddened" by Kodak's demise had purchased its film photo products, the company would still be in business.
The public abandoned Kodak because it didn't pursue digital photography as quickly as other companies did. Kodak did not adapt, and it paid the price.
Interstate Bakeries also recently filed for bankruptcy, another victim of consumer indifference. People aren't eating as many Twinkies as they once did.
There's no question Kodak's reorganization is bad news for its employees. But the consumer, a ruthless master, decided to let them go.
The good news is that other businesses will take the place of failed companies like Kodak and Interstate Bakeries. In our dynamic marketplace, consumer demands must be anticipated and met. Call it creative construction, the flip side of what happened to Kodak.