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I thought I'd update on a company which sometimes I follow, and has always been a very compelling story to follow.
SMIC was founded on an idea that the president who'd already run one semiconductor company, which had been sold to TSMC, was now opening another one, in addition to his dream of doing x-tian development work. With these two ideas, primarily of bringing the gospel to China. He started his company.
I was attracted to this dual idea, of doing tentmaking work, and working in the semiconductor industry, making cutting edge chips. In China as well. But in the end I might have had the opportunity but I didn't go.
In November of 2009. the news reported that this great experiment. That there's a major change going on.
"Chang resigned Monday, following the settlement of trade secrets misappropriation litigation with No. 1 foundry player Taiwan Semiconductor Manufacturing Co. (TSMC). Some news organizations and market watchers have speculated that Chang was forced out by SMIC's board after the settlement, by which TSMC gained an 8 percent ownership of SMIC."
Doing business in China has always been unique in its own ways. And in the past 10 or 15 years especially so. Going to China to do kingdom work, has been even more fraught with peril. But the president had somehow managed to do it. Commentators do say that Richard was a man of vision, and conviction. And in some ways the things he set out to do.
I think people deeply respected him for what he did. That although making money was important, it wasn't the only reason he started the company. Probably it had a bigger impact on China than so many other things which for profit, or even non profit organizations had done. It makes sense why they built or ran factories in so many cities.
I laugh now when I went there, that I was challenged to convert so many of my co-workers. To be exact I think it was 30 people a year. Never having heard such a thing put into a job requirement. I think I made a correction thinking that conversions are all the Lords work.
However the crazy thing about that wasn't that they'd put such and expectation in. But that they put it in, fully knowing that such things were really happening out there.
I wish Richard the best in his new endeavors.