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.
It's time. We dive into the unbelievable history behind the quietest technology giant of them all — and as of recording the world's 9th (!) most valuable company — the Taiwan Semiconductor Manufacturing Company. This story checks every box in the Acquired pantheon of greatness: China, America, MIT, Don Valentine, Silicon Valley, "real men" looking silly, and... moats literally built by lasers. We're not kidding. Pull up a seat and settle in for a great one!
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