Icarus Paradox: Don’t Fly too close to the Sun

Here’s a Story from Greek Mythology about Daedalus, a master craftsman and his son Icarus

Daedalus was the creator of Labyrinth

The labyrinth In Greek mythology, the Labyrinth was an elaborate ...
Labyrinth

He and his son Icarus were imprisoned in an island called Crete

They wanted to escape

Being a master in crafts, Daedalus constructed 2 wings using feathers and beeswax

Finally, they can escape back to their hometown, Greece

Before that, He warned Icarus not to fly too high or too low

Wings could get melted because of sun’s heat

or It could clot due to the dampness of the sea

But what happened?

Icarus got too excited.

He went too high

Wax melted and he fell into the sea and drowned

The Icarus Paradox: Why we need a more complex structure of learning
Image source : Google images

The same thing which helped him fly led to his fall and finally death

This is commonly called Icarus Paradox in business

Icarus Paradox in Business

Kodak was so obsessed with film cameras.

They were almost synonymous with cameras in mid 1900s

They didn’t see the technology changing.

Digital cameras were slowly taking over the film cameras

But Kodak didnt see that coming. They continued with film cameras

They flew too close to the sun

Kodak KB10 film camera | plastic point and shoot 35mm viewfi… | Flickr
Kodak Film Camera

The film cameras which helped them to be successful led them to failure.

Indian Example!

HMT was so obsessed with mechanical watches.

They had the monopolistic share in Indian watch market in 1970s

This made them blind about the changes in technology

Quartz watches were taking over mechanical watches

But what did HMT do?

They invested more in mechanical watches. HMT constructed new factories to produce more mechanical watches

They flew too close to the sun

HMT Janata - Winding an HMT mechanical watch. - YouTube
HMT mechanical watch

Mechanical watches which made them successful failed HMT

But both these companies had the chances

Lesser known facts:

A Kodak employee was rejected when he presented his idea for digital camera 15 years before anyone could release one

HMT in the 1970s had manufactured quartz watches but was not successful due to high price

But they flew too close to the sun.

Do you know any other company that flew too close to the sun?

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