Lipton founded StereoGraphics Corporation in 1980, and is the company's Vice President of Research and Development, and Chairman of the Board. He invented the first practical electronic stereoscopic products for computer graphics and video appliations.
He is the author of four books including Independent Filmmaking, published by Simon & Schuster, which has been the standard text on the subject since 1972, and has sold over 150,000 copies. His 1982 book, Foundations of the Stereoscopic Cinema, published by Van Nostrand Reinhold, is the standard reference in the field.
At the age of 19 he wrote the poem that became Puff the Magic Dragon, which is one of the most enduring and beloved popular songs.