Hackathons are a powerful tool for creating innovative products, says Jon Oringer, CEO of Shutterstock. All-night coding sessions often lead to the creation of products that would have otherwise gotten tangled in red tape, Oringer explains. "Sometimes as a company you tend to overthink things. If you just sit down and try to do it, it turns out to maybe be easier than setting up meeting after meeting to get it done," he says.

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