Nathan Lambert

And this is sort of where this dichotomy exists of who's actually modifying the process, who's actually developing the next generation one, who's improving them, is Hsinchu, is Hillsborough, is Pyongyang, right? It is not the rest of these fabs like Arizona, right? Arizona is a paperweight. If Hsinchu disappeared off the face of the planet, within a year, couple years,

And this is sort of where this dichotomy exists of who's actually modifying the process, who's actually developing the next generation one, who's improving them, is Hsinchu, is Hillsborough, is Pyongyang, right? It is not the rest of these fabs like Arizona, right? Arizona is a paperweight. If Hsinchu disappeared off the face of the planet, within a year, couple years,

And this is sort of where this dichotomy exists of who's actually modifying the process, who's actually developing the next generation one, who's improving them, is Hsinchu, is Hillsborough, is Pyongyang, right? It is not the rest of these fabs like Arizona, right? Arizona is a paperweight. If Hsinchu disappeared off the face of the planet, within a year, couple years,

Arizona would stop producing too, right? It's actually like pretty critical. One of the things I like to say is if I had like a few missiles, I know exactly where I could cause the most economic damage, right? It's not targeting the White House, right?

Arizona would stop producing too, right? It's actually like pretty critical. One of the things I like to say is if I had like a few missiles, I know exactly where I could cause the most economic damage, right? It's not targeting the White House, right?

Arizona would stop producing too, right? It's actually like pretty critical. One of the things I like to say is if I had like a few missiles, I know exactly where I could cause the most economic damage, right? It's not targeting the White House, right?

It's the R&D centers for TSMC, Intel, Samsung, and then some of the memory guys, Micron and Hynix.

It's the R&D centers for TSMC, Intel, Samsung, and then some of the memory guys, Micron and Hynix.

It's the R&D centers for TSMC, Intel, Samsung, and then some of the memory guys, Micron and Hynix.

And so TSMC, you cannot purchase a vehicle without TSMC chips, right? You cannot purchase a fridge without TSMC chips. I think one of the few things you can purchase, ironically, is a Texas Instruments graphing calculator, right? Because they actually manufacture in Texas. But outside of that, a laptop, a phone. It's depressing. Anything you, servers, right? GPUs, none of this stuff can exist.

And so TSMC, you cannot purchase a vehicle without TSMC chips, right? You cannot purchase a fridge without TSMC chips. I think one of the few things you can purchase, ironically, is a Texas Instruments graphing calculator, right? Because they actually manufacture in Texas. But outside of that, a laptop, a phone. It's depressing. Anything you, servers, right? GPUs, none of this stuff can exist.

And so TSMC, you cannot purchase a vehicle without TSMC chips, right? You cannot purchase a fridge without TSMC chips. I think one of the few things you can purchase, ironically, is a Texas Instruments graphing calculator, right? Because they actually manufacture in Texas. But outside of that, a laptop, a phone. It's depressing. Anything you, servers, right? GPUs, none of this stuff can exist.

And this is without, without TSMC. And in many cases, it's not even like the leading edge, you know, sexy five nanometer chip, three nanometer chip, two nanometer chip. Oftentimes it's just like some stupid power IC that's like converting from like, you know, some voltage to another, right? And it's made at TSMC, right?

And this is without, without TSMC. And in many cases, it's not even like the leading edge, you know, sexy five nanometer chip, three nanometer chip, two nanometer chip. Oftentimes it's just like some stupid power IC that's like converting from like, you know, some voltage to another, right? And it's made at TSMC, right?

And this is without, without TSMC. And in many cases, it's not even like the leading edge, you know, sexy five nanometer chip, three nanometer chip, two nanometer chip. Oftentimes it's just like some stupid power IC that's like converting from like, you know, some voltage to another, right? And it's made at TSMC, right?

So they do R&D on their own. They're just way behind, right? So I would say in 2015, China had a five-year plan where they defined by 2025 and 2020 certain goals, including 80% domestic production of semiconductors. Mm-hmm. They're not going to hit that, right, to be clear. But they are in certain areas really, really close, right?

So they do R&D on their own. They're just way behind, right? So I would say in 2015, China had a five-year plan where they defined by 2025 and 2020 certain goals, including 80% domestic production of semiconductors. Mm-hmm. They're not going to hit that, right, to be clear. But they are in certain areas really, really close, right?

So they do R&D on their own. They're just way behind, right? So I would say in 2015, China had a five-year plan where they defined by 2025 and 2020 certain goals, including 80% domestic production of semiconductors. Mm-hmm. They're not going to hit that, right, to be clear. But they are in certain areas really, really close, right?

Like BYD is probably going to be the first company in the world to not have to use TSMC for making, because they have their own FAPs, right, for making chips. Now, they still have to buy some chips from foreign, for example, like around like self-driving ADAS capabilities, because those are really high end. But at least like, you know, like an internal combustion engine has 40 chips and an EVE

Like BYD is probably going to be the first company in the world to not have to use TSMC for making, because they have their own FAPs, right, for making chips. Now, they still have to buy some chips from foreign, for example, like around like self-driving ADAS capabilities, because those are really high end. But at least like, you know, like an internal combustion engine has 40 chips and an EVE