Atomic clocks have been transformational in science and technology, leading to innovations such as global positioning, advanced communications, and tests of fundamental constant variation. Next-generation optical atomic clocks can extend the capabili
ty of these timekeepers, where researchers have long aspired toward measurement precision at 1 part in $bm{10^{18}}$. This milestone will enable a second revolution of new timing applications such as relativistic geodesy, enhanced Earth- and space-based navigation and telescopy, and new tests on physics beyond the Standard Model. Here, we describe the development and operation of two optical lattice clocks, both utilizing spin-polarized, ultracold atomic ytterbium. A measurement comparing these systems demonstrates an unprecedented atomic clock instability of $bm{1.6times 10^{-18}}$ after only $bm{7}$ hours of averaging.
Recently, p-wave cold collisions were shown to dominate the density-dependent shift of the clock transition frequency in a 171Yb optical lattice clock. Here we demonstrate that by operating such a system at the proper excitation fraction, the cold co
llision shift is canceled below the 5x10^{-18} fractional frequency level. We report inelastic two-body loss rates for 3P0-3P0 and 1S0-3P0 scattering. We also measure interaction shifts in an unpolarized atomic sample. Collision measurements for this spin-1/2 171Yb system are relevant for high performance optical clocks as well as strongly-interacting systems for quantum information and quantum simulation applications.