News Nearly Every Big Tech Company Joined the New Semiconductors in America Coalition

[Admin]

Apple, Microsoft, and other big tech companies formed the Semiconductors in America Coalition to lobby for U.S. chips.

Nearly Every Big Tech Company Joined the New Semiconductors in America Coalition : Read more

 

[ezst036]

People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.

- Adam Smith

Biden announced not long ago free money for the super-wealthy semiconductor sector, it makes sense they would collude in corporatist fashion as a result.

 

[gg83]

that is one powerful lobby group.

 

[JeffTX]

Under the heading of the Everett Dirksen saying "A billion here, a billion there, and pretty soon you're talking real money. ":

"Supporting the CHIPS for America Act is a logical first step. SIAC explained in its press release that the act, which was introduced in June 2020, would “appropriate $50 billion for domestic chip manufacturing incentives and research initiatives.”

Take from the people and give to the corporations. It's one thing to offer tax breaks to corporations, because people pay taxes, companies pass along costs to people.

Didn't the companies leave on their own to reduce costs? I'm 100% on board bringing critical supply chain items back to the USA, but how we incent that to happen is another matter.

 

[Allen_B]

So let’s see… these companies are collectively sitting on hundreds of billions of dollars in cash and equivalents. Seems to me there’s a clear solution to funding leading-edge fab capability in the United States.

 

[daworstplaya]

Let's face it "free market capitalism" is broken, especially when you have the government of other countries funding their own tech sectors to get a leg up on the competition. This is why US companies are falling behind, can't compete and are losing out to foreign tech companies. It's only leveling the playing field when the US govt gets involved to support US based companies to compete. If you want "free market" to work then the other countries govts shouldn't support their tech sectors, but that ship has sailed a long time ago. Now what we have is an arms race.

 

[Co BIY]

Let's face it "free market capitalism" is broken, especially when you have the government of other countries funding their own tech sectors to get a leg up on the competition. This is why US companies are falling behind, can't compete and are losing out to foreign tech companies. It's only leveling the playing field when the US govt gets involved to support US based companies to compete. If you want "free market" to work then the other countries govts shouldn't support their tech sectors, but that ship has sailed a long time ago. Now what we have is an arms race.

A major source of the damage to the "free-market" system was the addition of 1.2 billion unfree people under the control of an aggressive state to the system without watchfulness.

The idea of allowing Communist China entrance into the global free-trade system in the hopes that the increased ties would lead to internal liberation was naïve but maybe not foolish. But now that we see how it has turned out it is idiocy to continue in the same way. Unfortunately global elites and their multi-national corporations have disproportionately benefited from the situation and it's hard to give that up.