The Eastman Kodak company revolutionised the world of photography. The company’s slogan, “You press the button, we do the rest,” embodied its mission to make photography enjoyable and accessible. Combining novel innovations, mass manufacturing, clever marketing, and extensive distribution, Kodak dominated the photography industry. For one hundred years, the company was a near-monopolist in the US photographic film market, generating billions in sales and profits. George Eastman, Kodak’s founder, was renowned for his generosity towards his workers. As Kodak flourished, Eastman established progressive employment practices, including an employee welfare fund, a profit-sharing plan, and a savings and loan association to finance affordable housing. However, decades of unrivalled dominance and generous benefits gradually fostered a culture of entitlement and complacency. Though Kodak’s decline has often been attributed to the disruption from digital photography, the rise of large retailers like Walmart and Target was more consequential. Those powerful retailers refused to accept Kodak’s exclusive arrangements, enabling them to stock products from rivals including Fuji Film. As Kodak’s market share declined, management panicked, resorting to mass layoffs and diversification, costly distractions that ultimately triggered the company’s downfall. Kodak’s experience showed that management’s generosity must not come at the expense of performance.