Joe Lonsdale

Andy's the CEO of Epris.

Don't fry the neighbors.

They'll get us in trouble.

The neighbors' cars.

The problem is, is once you fry some of these things, you can't turn them back on.

They wouldn't be very happy with you.

Yeah.

So first of all, TSMC is part of like a massive ecosystem.

So a lot of the design, a lot of the work, a lot of other things happen in America, happen around the world, happen in the SML in Europe.

Like you couldn't just like take TSMC and just like own it for yourself.

Like it would, it would stop working because you'd stop sending the designs.

You'd stop doing the work.

It's not been around.

No, it's actually really interesting.

I think America actually does capture more of the profits from the chip ecosystem than Taiwan does.

This is what people miss.

They definitely capture more of the revenue because of the cost.

But if you look at the actual profits, we're still capturing more than they are because we do so much of the work.

It's a very distributed industry where a lot of that's happening.

at Lam Research and Applied Materials and all these companies that maybe you haven't heard of that are in the Silicon Valley that are part of the US still.