Howard Lutnick

But it's an example to your point of just the economy has created earnings potential across the board in ways that I've never seen in my career.

It's really quite incredible.

Can I tell you something about that TSMC plant?

That's a four nanometer plant.

They are at better yields or equivalent yields than the best operating four nanometer plant in the world, which is in China.

Isn't that incredible?

American technicians are now dollar for dollar as good as what was happening in China.

It's incredible.

Nobody knows this, by the way, but it's incredible.

Yeah, actually, let me just stop there, because I think one of the things that you did, you basically just put a pause on the CHIPS Act and ripped it apart and restarted it effectively.

Because it was initially under Biden, again, just as an outsider looking at it, it was largely giveaways.

And I think you flipped it around and you essentially said, stop.

My understanding is you actually haven't, you've committed to a lot, but you've been pretty judicious and disciplined about giving the money out.

I think only $6 billion has gone out because there's a bunch of conditions and you have to actually meet these milestones.

And the CHIPS Act is very different than how it started.

Is that fair?

And- And why does that not work?

Like, why would that not have worked?

Or why was that not working when you came in?

You're in breach of the DEI companies.