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Innovation Intersection Criteria
Successful companies are built at the intersection of a technology shift, a cultural shift, and a business model shift. For instance, the success of mobile photo sharing was driven by advancements in camera technology and societal readiness. Companies like Slack and HipChat were influenced by technology, cultural acceptance, and business model innovations. HipChat excelled in technology and cultural shifts but fell short in business model adaptation, while Slack succeeded by recognizing the importance of simplicity and ease of joining in their product.