Thomas Edison (bankruptcy case)

Thomas Edison, the famous inventor, faced bankruptcy in the late 1920s mainly due to financial difficulties associated with the Edison Company and investments in new technology ventures that didn’t succeed as hoped. Despite his numerous innovations, some business endeavors, like the development of electric power systems, encountered legal and financial challenges, leading to significant losses. Edison’s bankruptcy was not a personal financial ruin but a professional setback, highlighting the risks of innovation and entrepreneurship. It underscores that even legendary inventors can face serious financial difficulties when dealing with complex, competitive industries.