1931
Morris Chang was born in Ningbo, China, in July 1931.
“In Ningbo, China, in July, 1931, just about one year after Warren Edward Buffett was born in Omaha, Nebraska.”
Topic
Morris Chang
27 facts from 6 episodes, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
1949
Morris Chang turned 18 in 1949 and went on to attend Harvard with the help of an uncle in Boston.
“the next year in 1949, which is the same year as the establishment of the PRC, the People's Republic of China, Morris turns 18.”
1955
According to a legend the hosts call apocryphal, Ford offered Chang $479 a month, and Sylvania's semiconductor division offered $1 more.
“Ford offers him a salary of $479 a month to go take an entry level job.”
1958
Morris Chang raised the yield at Texas Instruments' plant to 20% within about four months, better than IBM's own line.
“After about four months, he gets the yields at the TI plant up to 20%.”
late 1960s
Chang hired Boston Consulting Group, which proposed pricing low at the start to drive volume and speed up learning on yields, an approach called learning curve pricing.
“He hires BCG and they come up with the idea of actually pricing low to start to drive this volume and speed up the yield curve.”
1964
Morris Chang completed his PhD at Stanford in two and a half years while Texas Instruments sponsored him.
“So, he finishes his PhD in two and a half years.”
1972
Morris Chang was promoted in 1972 to a vice president at Texas Instruments running the entire semiconductor business.
“Morris gets promoted to VP at TI, one level below the CEO, running the entire semiconductor business.”
1987
The host says TSMC was set up with a $0 pre-money valuation and that Morris Chang received no equity at the start.
“It was $0. Morris Chang got no equity in the company.”
1990s
Morris Chang says TSMC required customer deposits during its early capacity shortages and could confiscate them if customers did not take the wafers.
“we figured out that we'll require a deposit from the customer. And we'll even confiscate the deposit if the time comes for him to take the wafers, and he doesn't”
1995
Morris Chang says TSMC exceeded $1 billion in revenue in 1995, two years before NVIDIA approached it.
“I remember we had exceeded the $1 billion U.S. dollars in revenue in 95, and this was 97.”
1997
Morris Chang says his relationship with NVIDIA's Jensen Huang began with a letter Huang sent him around 1997 asking TSMC to take NVIDIA as a foundry customer.
“It started, my relationship with Jensen, started with a letter that he sent to me. I think it was 1997.”
1997
Morris Chang recalls NVIDIA in 1997 as facing bankruptcy with perhaps 50 or 60 employees.
“They were facing bankruptcy, I think. And they had maybe 50 or 60 employees.”
2008
Morris Chang says the previous TSMC CEO laid off about 600 to 700 employees with the worst performance reviews around the 2008 financial crisis.
“He used the bad performance review, the worst performance review people, and there were about 600 or 700 of them”
2009
TSMC announced in summer 2009 that Morris Chang was returning as CEO, replacing Rick Tsai.
“They announced that Morris is returning to lead TSMC as CEO. Rick is out.”
2009
Morris Chang took back the CEO position at TSMC in 2009 after a period in which another executive held the job.
“So I decided to take the CEO position back. So in 2009, I did that.”
2009
Morris Chang says more than 100 laid-off TSMC employees protested at his home, with 50 to 60 police officers sent to keep order.
“the police department sent 50, 60 police officers to try to maintain the order. Now, more than 100 protesters appeared.”
2009
Morris Chang offered NVIDIA more than $100 million to settle the 40-nanometer dispute, with the offer valid for 48 hours.
“More than $100 million, yeah. And I also said, our offer is effective 48 hours.”
2009
Morris Chang set TSMC's R&D spending at 8% of revenue, regardless of recession, after it had been running at 6 to 7%.
“We've been running 6 or 7% already. So I said, oh, let's pick 8%. 8% regardless of whether there's a recession or not.”
2010
Morris Chang says his plan to roughly triple TSMC's capital spending for 28 nanometers drew many questions from the board.
“But suddenly, increasing capital spending, threefold, I think, did invite a lot of questions from the board.”
2010
Morris Chang told TSMC's independent directors that he remained responsible for operating the company and that they should let him proceed with the 28-nanometer spending.
“I heard you, but I am still the guy that's responsible for the operation of the company. So, you need to let me go ahead with this one.”
2010
Apple's chief operating officer Jeff Williams visited Morris Chang's home for dinner, brought by Foxconn's Terry Gou, to ask TSMC to manufacture Apple's chips.
“He was not just a vice president. He was the chief operating officer of Apple.”
2013
Lex Fridman asked about a story that Morris Chang offered Jensen Huang the chief executive role at TSMC in 2013; Huang confirmed the story and said he declined.
“in 2013, the founders of TSMC Morris Chang offered you the chance to become TSMC's chief executive”
2018
Morris Chang retired as TSMC chairman in June 2018 at age 86.
“And then finally, once it all plays out and TSMC is on top, in June of 2018, Morris retires, presumably for real?”
Undated
After the Riva 128 succeeded, Jensen Huang wrote a physical letter to TSMC's Morris Chang, which led to a phone call and a partnership.
“After the Riva 128 hits and has become a big success, Jensen writes a letter to Morris, a physical letter, addresses it to Morris Chang in Taiwan.”
Undated
Morris Chang was 56 years old when he founded TSMC.
“Morris Chang was 56 years old when he founded TSMC.”
Undated
A host of Acquired says Morris Chang created the model of a chip company that only manufactures for others, with TSMC, before there was demand for it.
“he invented the notion of a fabulous semiconductor company before there was any demand for that”
Undated
Morris Chang says Foxconn founder Terry Gou is a second cousin of his wife, Sophie.
“Terry Gow is a relative, is actually a second cousin of Sophie's.”
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