I was wondering how TSMC got approval to build in Arizona because of the water supply issues. They're building their own water reclamation plant: https://www.azfamily.com/2025/08/27/tsmc-breaks-ground-15-acre-arizona-water-reclamation-plant/

 

Jack Welch, the former General Electric’s CEO, whose management style became the Gospel to all the American CEOs who fawned and idolized him, proceeded to extract record profits from GE, while hollowing out its once mighty industrial plant.

He also famously said: “I hate electronics”. Because it requires to invest lots of capital and most importantly, invest in its workforce, with an uncertain return on the investment.

And where Jack Welch went, the rest of the US industry followed. And thus, here we are now, 35 years later, facing a hollowed-out US industrial base and a greatly diminished technical workforce.

 

TSMC's plan is nothing short of audacious. Hopefully it will bring them closer to U.S. tech clients.

 

Jack Welch, the former General Electric’s CEO

That guy sure could cook the books:

https://ritholtz.com/2012/10/ges-jack-welch-on-bls-book-cooking/

 

Find the book :
Lights Out: Pride, Delusion, and the Fall of General Electric
By Thomas Gryta and Ted Mann

EDIT: I just realized that my avatar has the GE logo on it.