Instagram's founders built a billion-dollar photo-sharing business in a matter of months, even as established film and photography giant Eastman Kodak spiraled into bankruptcy. That's a sign of just how powerful corporate culture can be in either spurring or stalling the innovation process, says Kodak board member Michael Hawley. "It's a little like asking why Hasbro didn't do Farmville, or why McDonald's didn't start Whole Foods," he explains. "Cultural patterns are pretty hard to escape once you get sucked into them."

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