Memory manufactures sit on a war chest of IP. So even if someone has excess fab capacity and wants to get into memory manufacturing, they will have to fight an

Memory manufactures sit on a war chest of IP. So even if someone has excess fab capacity and wants to get into memory manufacturing, they will have to fight an uphill battle of about a zillion patents. Most memory companies have backroom deals to exchange tit-for-tat patent violations against each other. Not sure how a new memory manufacture comes into being without getting sunk from licensing costs?