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TSMC: Semiconductors and Borders of Light

The Generalist

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Moore's Chang's Playbook

In the 1960s, companies like Fairchild semiconductor and Texas Instruments started shifting labor to Asia. Morris Chang's best decision was to make TSMC a pure-play foundry. Apple is now the company's largest customer. Without sustained R&D spending or ASML's tooling, it could not have achieved such dominance.

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