Semiconductor Manufacturing Equipment - Are Semis Really Fundamental?

Semiconductors are super important. They're the foundation of all of technology and much of the economy. The combination of trade war and the pandemic and the shortages have really woken everybody up to how important semis are. There's that fundamental divide between companies that design chips and companies that physically manufacture chips. And on the, and it's important because we've seen consolidation in both right 20 years ago, there used to be 2000 or so, fabulous design companies in the US and Europe.