Insights from the 94-year-old tycoon on climbing the professional ladder
In the world of semiconductors, Morris Chang is a name synonymous with innovation and success. Born in China and raised in Taiwan, Chang spent two decades at Texas Instruments before embarking on a new journey at the age of 55.
Chang's key to success lay in achieving something significant in each role, including a dramatic increase in production yield. However, his decision to leave Texas Instruments earlier in his career was a pivotal moment that set the stage for his future achievements.
Chang founded the Taiwan Semiconductor Manufacturing Company (TSMC) before turning 65. TSMC, now a global leader in semiconductor manufacturing, works with major tech companies like Apple, Nvidia, and Qualcomm.
The learning curve or experience curve, as Chang often mentioned, is based on the idea that costs per unit decrease as more is produced. This principle was instrumental in the growth of TSMC, as the company concentrated production in one place, a strategy Chang advocated for, emphasising the importance of "learning by doing."
Chang's emphasis on quality customer service was another factor that contributed to TSMC's success. He believed that TSMC's reputation for quality customer service played a role in securing an iPhone contract with Apple over Intel. Chang often emphasised the importance of responding to every customer request, even if some were deemed crazy or irrational.
Despite earning less in Taiwan, Chang chose to found TSMC there because it was new and challenging. His belief that the opportunity would come to him if he didn't chase it proved to be true, as he now boasts a net worth of approximately $5.1 billion (€4.4 billion).
Chang's journey is a testament to his vision, determination, and unique approach to business. He is a legend in the semiconductor industry and a shining example of entrepreneurial spirit.
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Despite his success, Chang remains humble, often attributing his achievements to learning from his experiences. As he once said, "learning happens where you are." This philosophy, combined with his strategic vision and unwavering commitment to customer service, has made Morris Chang a true pioneer in the semiconductor industry.
