A seasoned Silicon Valley businessman — an older man of the pre-dotcom generation who’s seen his fair share of booms and busts — once told me that he had discovered the fatal weakness of the technology industry. It is that semiconductors are the most capital-intensive and innovation-intensive industrial products in history, yet everyone wants to pretend that they are commodities. “People have no idea what it takes to make these things,” he told me. “They think they’re no different than potatoes. They want
Portraying CEOs as Cartoon Villains
It is not the corporate CEOs who deserve to be blamed: statist governments are the real villains.
