Carl: I like your analogy, it makes it very clear. To add to it, yes, the grass is green on the other side, but short cuts through quicksands are very dangerous, sometimes you actually do not come back up anymore. Furthermore, we are now facing a critical transition time (well over the next three years) to the 300 mm technology. The Fabs which in the last transition invested with the semicap to help the transition over, are not doing it this time around (they see the semicaps flush with money and tell them invest your own green stuff to get to the green grass). Because we are stuck in quicksands, we will not have the resources to fund that transition at TRKN. In other words, the competition was patient and built a bridge over the river, TRKN foolishly said "damn the torpedoes full speed ahead", and sank. The competition will simply get there first eat all the green grass leaving only scorched territory behind.
In this business, the balance sheet is just as important as the technology if not more.
Remember GAC
Zeev |
