How Did TSMC Get So Good?

upstart writes:

There is no simple answer, but we think there are a few factors that really stand out...:

By now, we are all familiar with the fact that TSMC is, by far, the most capable semiconductor manufacturer in the world, with all the entails for the industry and geopolitics. And as this reality sets in, many people have been asking us how did they get so good?

There are many good histories of this process, the most recent of which is Chris Miller's Chip Wars (which is very good), that cover the narrative of TSMC's rise, but we think the question really goes to deeper fundamentals. What capabilities does TSMC have that others lack? And can anyone else build those? Not surprisingly, there is no simple answer to this question, but we think there are a few factors that really stand out.

[...] It is important to understand that much of TSMC's current advantage rests in intangibles. Everyone else can buy the same equipment. And their success is not the result of one genius. China's SMIC has poached hundreds of TSMC staff over the years, to no avail. Nor is the answer capital -- building an advanced fab is incredibly expensive, but many countries have sunk vast fortunes into futile attempts.

TSMC's advantage rests in years of learning and process development. They know how to prepare chip designs for production, build them, and most importantly fix the inevitable bugs that appear. Most importantly, they are able to capture and retain all this learning, so they can do all of this at immense scale, repeatedly.

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