So they got all that money from Uncle Sam’s CHIPS Act only to lay off 10,000 employees and make themselves “lean”. Govt funded unemployment.
So they got all that money from Uncle Sam’s CHIPS Act only to lay off 10,000 employees and make themselves “lean”. Govt funded unemployment.
The US and Europe has become acutely aware that too much semi-conductor manufacturing has been outsourced to China and other Asian nations and they’re trying to build some back domestically. So that’s the geopolitical reason for it.
Maybe the US should consider Intel’s massive reduction in staff and faulty chips as a national security threat and nationalize them.
That’s the justification. Don’t you know what kind of people gets into high governmental positions?
Making some friends rich was the reason.
Still, this sucks huge donkey balls, a lot of very smart and very knowledgeable people, maybe more valuable than a 100 (ok, maybe 10, or maybe 5, it’s a rhetorical device) copies of me, work in such inefficient structures, while there could have been a dozen TSMCs over the world with their competencies.
I have come to agree that nations have interests, but their governmental structures generally work against those. There’s a wheel to be invented there.
I’m not sure what this has to do “Not sure why Biden didn’t put any terms and conditions on giving away all this money 💰?”. Wait, I do. This is question exactly why Biden didn’t put condition of bringing production back.
- Russian troll, according to some.