Chip manufacturing has the problem of being A) incredibly difficult B) incredibly capital intensive C) low margin Theres smaller fabs out there, but if you'

Chip manufacturing has the problem of being A) incredibly difficult B) incredibly capital intensive C) low margin Theres smaller fabs out there, but if you're going to do a new start up, why would you choose to compete with these guys, unless you think youve come up with a new process somehow that will beat them? The other fabs out there are also part of huge companies that do lots of other stuff (Samsung) or were spun off from them (GlobalFoundries/AMD). IMO any new major foundry would end up being a strategic geopolitical move with heavy subsidies rather than a pure business play.