There's a massive shortage in chip manufacturing and it's causing massive disruption in the global supply chain. Back in September, GM announced that it would have to shut down 8 manufacturing plants in North America for two weeks just because of the chip shortage. Now the government wants to get involved and provide $50 billion to try to solve the problem. But should they? Is this the best use of $50 billion?
Why do we have a chip shortage? The short answer is covid19. It resulted in a lot more people working from home and resulted in a massive increase in demand for electronics and now the demand exceeds the supply. In fact, the time between ordering and receiving a semiconductor is at a record high of 22 weeks.
Why is this a difficult problem to solve? Because it takes billions of dollars and many years to build chip manufacturing plants.
Taiwan, China, and South Korea combine for roughly 87% of the global foundry market.
TSMC, short for Taiwan Semiconductor Manufacturing Company, is by far the world’s largest chip manufacturer. It’s also the sixth most valuable company in the world with a market cap of over $600 billion, and supplies chips to the likes of Apple, Intel, and Nvidia.
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One Direct Democracy
The reality is that we have reached a point in time in our evolution where Representative Democracy no longer serves the will of the people and technology can solve the problems that made Direct Democracy impractical.
That's why I created One Direct Democracy. It's a movement for upgrading the global democratic system by taking the power away from politicians and putting it in the hands of the people by using Direct Democracy.
I've created the technology and a plan for how to make this work.