In this episode of Acquired, Ben Gilbert and David Rosenthal delve into the history, rise, and strategic importance of Taiwan Semiconductor Manufacturing Company (TSMC). They trace the journey of TSMC's founder, Morris Chang, from his early life in China through his career at Texas Instruments to the founding of TSMC. The hosts discuss TSMC's pivotal role in the semiconductor industry, its unique business model as a pure-play foundry, and its dominance in manufacturing leading-edge chips for companies like Apple and Nvidia. They analyze TSMC's competitive advantages, including scale economies and process power, and also address potential risks, such as geopolitical tensions between Taiwan and China. The episode further explores the broader semiconductor landscape, including the rise of fabless chip companies, the importance of ASML's lithography technology, and Intel's struggles to maintain its industry leadership.
