Destructive financial incentives have wasted years of free cash on gimmicks like buybacks to boost share prices rather than productive long-term focused investment. Then when high leverage implodes, as it always does eventually, the companies look to governments for bailouts. We need to change course. This segment offers some insight.
Car companies across the globe have had to idle production and workers because of a shortage of semiconductors, often referred to as microchips or just chips. They’re the tiny operating brains inside just about any modern device, like smartphones, hospital ventilators or fighter jets. The pandemic has sent chip demand soaring unexpectedly, as we bought computers and electronics to work, study, and play from home. But while more and more chips are needed in the U.S., fewer and fewer are manufactured here.
Intel is the biggest American chipmaker. Its most advanced fabrication plant, or fab for short, is located outside Phoenix, Arizona. New CEO, Pat Gelsinger, invited us on a tour to see how incredibly complex the manufacturing process is.
Here is a direct video link.
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