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The TSM C Value Creation Story Is Just So Cool
The notion of necessary but not sufficient is really hard to frame into a percentage. Apple would be worth zero if they didn't acquire next. It's like trillions of dollars of market cap the t s m c is created for their partners, which i think is just so cool. I meat it truly, that they've created way more value for their customers in thereco system than they've captured for themselves,. yat, which is so cool.