one businessman declined to invest after three meetings with Chang, Taiwan’s prime minister called the stingy executive and reminded him, “The government has been very good to you for the last twenty years. You better do something for the government now.” A check for Chang’s chip foundry arrived soon after. The government also provided generous tax benefits for TSMC, ensuring the company had plenty of money to invest. From day one, TSMC wasn’t really a private business: it was a project of the Taiwanese state.
