Corporate zombies don’t start as zombies.
They start alive. Hungry. Inspired. Full of vision.
But somewhere along the way, they forget who they are. And when identity slips, decay sets in.
At Raise, we’ve studied the graveyard. And it’s not just full of no-name companies. It’s littered with giants—brands that once defined their industries, only to collapse into the undead shuffle.
Let’s dig into a few of the worst offenders.
Kodak: The Innovator That Ignored Itself
For most of the 20th century, Kodak wasn’t just a company—it was a cultural touchstone. The Kodak Moment became shorthand for capturing life’s memories. Their purpose was crystal clear: help people hold onto what matters.
And then, in 1975, Kodak engineers invented the first digital camera. They had the future in their hands. But leadership was so obsessed with protecting film profits that they ignored their own innovation.
Instead of leaning into their identity—helping people capture memories, no matter the medium—they clung to short-term revenue.
The result? By the time Kodak admitted digital was the future, they had lost their soul, their relevance, and eventually their business.
They weren’t killed by technology. They were killed by amnesia.
Blockbuster: The Giant That Laughed at Netflix
Friday nights used to belong to Blockbuster. Bright blue signs, shelves lined with VHS and DVDs, late fees we all hated but tolerated.
Their identity was entertainment access. But when streaming emerged, they clung to stores. They laughed Netflix out of the room—literally—because the new model didn’t fit their short-term numbers.
Instead of asking, How do we continue to bring stories into people’s homes?, they asked, How do we protect late fees?
Netflix remembered the purpose. Blockbuster forgot. The rest is history.
Sears: The Original Amazon That Forgot Its Soul
Long before Amazon, Sears was the everything store. The Sears catalog delivered tools, appliances, clothes, even houses. They weren’t just selling products—they were connecting America to modern life.
But over time, Sears lost sight of that identity. Leadership turned inward, chasing financial engineering instead of customer experience. They cut, they stripped, they optimized.
By the 2000s, Sears was no longer a connector of culture—it was just another department store, with all the soul drained out.
Amazon didn’t beat Sears because it had better tech. Amazon beat Sears because it lived Sears’ original identity more faithfully than Sears did.
WeWork: All Hype, No Heartbeat
WeWork is a different kind of zombie—a fast one.
They talked about “elevating the world’s consciousness.” They called themselves a movement. But at the core, they weren’t clear on their identity. Were they a real estate company? A tech company? A spiritual revolution?
Turns out, they were none of the above. They were a growth machine with no grounding. Expansion was the only goal, valuation the only story.
And when the hype collapsed, there was no heartbeat underneath. Just a shell.
The Pattern Behind the Horror
Different industries. Different eras. Same story.
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Kodak forgot innovation was their lifeblood.
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Blockbuster forgot entertainment was their purpose.
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Sears forgot connection was their advantage.
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WeWork never had a true identity to begin with.
In each case, the loss of identity came before the fall. Profits distracted them. Growth blinded them. Amnesia killed them.
The Lesson for Leaders Today
The warning is clear: without identity, you’re walking dead.
It doesn’t matter how big you are. It doesn’t matter how strong your balance sheet looks. If you can’t answer Who are we?and Why do we exist?—your days are numbered.
At Raise, we don’t just study these case files for fun. We study them because we believe every company can choose differently. With clarity of identity and purpose, brands don’t just avoid the graveyard—they thrive.
Don’t be the next headline. Don’t be the next case file.
👉 Next in the series: Brands with a Pulse — the companies that prove identity isn’t a luxury, it’s the difference between walking dead and fully aliv
