Alexandr (Alex) Wang

But they cited issues.

First, there were issues around permitting and getting enough power, and they dealt with some EPA issues.

And then they just have issues where the technicians working in Arizona aren't as skilled or don't work as hard as those working in Taiwan.

So...

They've built a few fabs in the United States.

Red tape, power, workforce.

And then there's another key thing, which is

If you look at it from Taiwan Semiconductor, from TSMC's perspective, they're not all that incentivized to stand up all these capabilities in the United States.

As soon as they start standing up all these capabilities in the United States, the United States is not incentivized to defend Taiwan.

Yeah.

And...

It's a Taiwanese company.

So, and it's a critical part of their survival strategy.

So that's really where the rubber hits the road is, are they actually incentivized to do a large scale build out of chip manufacturing capacity in the United States?

I think the answer is like, no.

Yeah.

I mean, you can imagine some kind of deal with, with China, um, between the U S and China, it'd have to be like a diplomatic deal at the highest levels, which is something along the lines of, you know, Hey, you guys can have Taiwan, but we need large scale fabs in, you know, we need large scale chip manufacturing in the United States or something like that.

And like, you know, maybe there's worlds where that kind of deal could get, could get drawn up.

I don't know.

Um,