Sitting in his wood-paneled office with a view of Taipei and the lush mountains, Morris Chang, a 92-year-old entrepreneur, reminisces about the book that changed his life. The book, titled “Introduction to VLSI Systems,” was a graduate-level textbook on computer chip design dating back to 1980. This book introduced Mr. Chang to the idea that microchips can be designed in one place and manufactured elsewhere, challenging the conventional practices of the semiconductor industry at the time.
Instead of retiring like most people his age, Mr. Chang seized this insight and moved to Taiwan to establish the Taiwan Semiconductor Manufacturing Company (TSMC) at the age of 54. While TSMC doesn’t design chips, it has become the world’s largest manufacturer of cutting-edge microprocessors, supplying major clients like Apple and Nvidia. TSMC’s success has turned it into a $500 billion company that produces chips for a wide range of applications, from iPhones to fighter jets.
The significance of TSMC’s chip factories has not gone unnoticed, as countries like the United States, Japan, and Europe are vying for TSMC to establish fabs in their respective territories. Even China has invested heavily to replicate TSMC’s success. Mr. Chang’s entrepreneurial journey has not only transformed Taiwan into an economic powerhouse but also reshaped the global electronics industry. It has also created a new geopolitical dynamic where a significant driver of economic growth lies in a politically volatile region.
Although Mr. Chang prefers to remain unknown, his accomplishments have thrust him and TSMC into the limelight. He identifies himself as American, having gained US citizenship in 1962. However, as the US-China technological Cold War intensifies, he doesn’t believe China stands a chance at semiconductor dominance. Mr. Chang asserts that the US and its chip-making allies control essential aspects of the industry, leaving little room for China to maneuver.
People who know Mr. Chang describe him as meticulous, tenacious, and ambitious. He built TSMC while outmaneuvering giants like Samsung and Intel. Even after stumbling during the 2008 financial crisis, he returned at the age of 77 to lead the company once again. With his unique experience and deep knowledge of the industry, Mr. Chang remains one of the few figures present at the inception of the semiconductor industry and dominates its center stage today.
To gain insights into the future of the tech industry, it is essential to understand Mr. Chang’s perspective and his willingness to take risks when others hesitated. Unlike public figures like Elon Musk and Mark Zuckerberg, Mr. Chang exudes restraint. If tech competition is a high-stakes poker game, he is the discreet casino operator.
Mr. Chang’s journey began in China on the eve of war, where he experienced constant movement, bombings, and displacement. After arriving in the US in 1949, he attended prestigious universities and embarked on a career in semiconductors. He started at Sylvania and later joined Texas Instruments, where he became a vital part of their semiconductor division. However, he realized that his career at Texas Instruments had hit a dead end, which led him to explore new opportunities.
The second puzzle piece in Mr. Chang’s journey was his experience in Japan while working for Texas Instruments. He discovered that the Japanese chip factory achieved twice the yield compared to the company’s Texas plants. This revelation led him to recognize the importance of a skilled and stable workforce. Despite Texas Instruments’ best efforts, they couldn’t replicate the Japanese yield.
Combining these puzzle pieces, Mr. Chang founded TSMC with the vision of producing chips for clients purely based on their design, regardless of manufacturing location. This approach revolutionized the industry and has made TSMC an influential player in the global market.
As Mr. Chang reflects on his accomplishments, he continues to navigate the complexities of the tech industry. His unique perspective and bold moves have shaped TSMC’s success story, making him an extraordinary figure in the sector.
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