Kodak Pivoted Into A Shady Cryptocurrency Company
Kodak famously failed to anticipate the rise of digital cameras, even though they were invented at Kodak. The ensuing desperate scramble to catch up saw them become the leading U.S. retailer of digital cameras, but only by losing $60 on every camera they sold. Then smartphones emerged and cratered the digital camera market too, at which point it really started to seem like an exec at Kodak had angered some kind of leprechaun. The company emerged from bankruptcy in 2013, having sold most of its profitable assets and stolen leprechaun gold.
So what's Kodak's plan to turn things around? Cryptocurrency! Yes, Kodak's launched two crypto schemes this year, which is a worrying thing to hear from a 19-year-old katana enthusiast, much less a former corporate behemoth. The first is Kodak KashMiner, a Kodak-branded Bitcoin miner that you can pay $3,400 to rent for two years. In return you get half the Bitcoins it produces. Kodak claims you'll earn $375 a month over that time, even though a) the price of Bitcoin fluctuates wildly, b) Bitcoin mining gets more difficult over time and output drops every month, and c) Kodak has no business being involved in any of this. Also, experts say it's nothing but a rebranded version of a machine you can buy outright for less than $3,400. It's been called a borderline scam.
The second scheme is KodakCoin, a baffling "photo-centric cryptocurrency" which supposedly allows photographers to control their image rights ... except you're currently only allowed to participate if you have a net worth over $1 million. As few freelance photographers are often seen making it rain in the club, it's not clear exactly who this service benefits, besides the coke-addled mind that came up with it. Even the company doesn't seem sure how it's supposed to work, responding to the question "Why would photographers want this?" with a 40-page white paper that The Times called a "mishmash of marketing buzzwords and vague diagrams." Which, to be fair, are the two pillars of the entire cryptocurrency industry.
Borders UK Tried To Launch A Last-Ditch Online Dating Service
For those of you who are probably too young to be reading this website, the Borders Group used to be a leading international book retailer. In 2012, Borders U.S. closed for business, but not before they and their overseas counterparts hatched a whole bunch of harebrained schemes in a desperate bid to keep up with Amazon. In 2009, Borders UK decided to bring in some extra cash by introducing an online dating service for book lovers, Happily Ever After.
Borders UKAnd since their "Books you'll enjoy" section never promoted a single dud, who better to suggest a sexual partner?