Nathan Lambert

Effectively, there are three places in the world that are doing leading edge R&D. There's Hsinchu, Taiwan, there's Hillsborough, Oregon, and there is Pyongyang, South Korea. These three places are doing the leading edge R&D for the rest of the world's leading edge semiconductors. Now, manufacturing can be distributed more globally. right?

Effectively, there are three places in the world that are doing leading edge R&D. There's Hsinchu, Taiwan, there's Hillsborough, Oregon, and there is Pyongyang, South Korea. These three places are doing the leading edge R&D for the rest of the world's leading edge semiconductors. Now, manufacturing can be distributed more globally. right?

Effectively, there are three places in the world that are doing leading edge R&D. There's Hsinchu, Taiwan, there's Hillsborough, Oregon, and there is Pyongyang, South Korea. These three places are doing the leading edge R&D for the rest of the world's leading edge semiconductors. Now, manufacturing can be distributed more globally. right?

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?