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2min chapter
TSMC
Acquired
The Industrial Technology Research Institute (ITRI)
In the seventies, a government in tian wanted to establish an initiative called the industrial techn logy research institute. The goal was for it to become like the bell labs of tiwan and help lift businesses out of poverty there at least. A government topp down innovation mandate from a country that's not a world power tends not to turn into a gigantic economic success. Anyways, i can't even imagine running a company with that level of gross margins.
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