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There was a really awesome deep history of TSMC on the Acquired podcast https://www.acquired.fm/episodes/tsmc https://www.acquired.fm/episodes/tsmc
by jexp 2y ago
There was a really awesome deep history of TSMC on the Acquired podcast
https://www.acquired.fm/episodes/tsmc https://www.acquired.fm/episodes/tsmc
- consumer451 2y ago> David: This may be the craziest part about the whole TSMC founding story. I'm 99.9% sure, Ben, you do not know this. Do you know what the pre-money valuation was on TSMC? > Ben: No, I couldn't find that anywhere. > David: It was $0. Morris Chang got no equity. Zero. > Ben: So 100% of the company was owned by the investors? > David: Fifty percent by the government and the other 50% were owned by the investors. Morris got nothing. > Ben: And just got to keep his salary. > David: He was a government employee. > Ben: Wow. > David: There by the grace of the government. > Ben: Oh my God. > David: Isn't that unbelievable? This is so the opposite of Silicon Valley.
- klelatti 2y agoI wonder if there are few things going on here. If TSMC was a success then he would be well enough rewarded and not everyone wants to be a billionaire. Then there is the reduced influence from having no equity. I guess if Chang was dependent on government support and confident in his ability to influence government then having some equity makes little difference?