Gelsinger was the right guy, who even made the right calls. Setting Intel up as a rival to TSMC was the right idea - the issue was failure of the CHIPS Act to

Gelsinger was the right guy, who even made the right calls. Setting Intel up as a rival to TSMC was the right idea - the issue was failure of the CHIPS Act to release expected funding combined with Raimondo's constantly changing export controls. This starved Intel of cash from funding which didn't arrive, whilst at the same time killing Intel's China business, which was 30%+ of Intel's revenue. Gelsinger's main mistake to was overestimate US Govt ability to conduct effective industrial policy. But he was right to roll the dice on it