Another innovation killer is sustained financial success.

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My faith in these endless cycles of new hardware supply and software innovation--and subsequent killer new business models--got a boost in mid-May, when a startup called Yipes Communications stopped by for lunch.

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Qualcomm faces a thicket of new challenges--a revolt by some of its biggest customers, an antitrust suit led by corporate killer David Boies and an unrelenting pace of wireless innovation that could render Qualcomm irrelevant if it doesn't constantly update its patent library.

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