So at the depths of the crisis Chang rehired the workers the former CEO had laid off and doubled down on investment in new capacity and R&D. He announced several multibillion-dollar increases to capital spending in 2009 and 2010 despite the crisis. It was better “to have too much capacity than the other way around,” Chang declared. Anyone who wanted to break into the foundry business would face the full force of competition from TSMC as it raced to capture the booming market for smartphone chips. “We’re just at the start,” Chang declared in 2012, as he launched into his sixth decade atop the
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