Semiconductors Industry: Going Deep with Mostly Borrowed Ideas (MBI) on TSMC, Texas Instruments, Nvidia, Intel, Hyperscalers, etc

On his eighth appearance on the podcast, MBI (🇧🇩🇺🇸) joins me to discuss one of humanity’s most impressive achievements: The semiconductor industry.Of course, we can’t talk about everything, and this isn’t meant to be a structured primer (for that, see below). It’s just a mostly unstructured conversation among friends, discussing whatever we find interesting in the space.We focus mostly on TSMC and Texas Instruments because that’s the two companies that MBI has researched more deeply, but we touch on ideas and concepts that apply more broadly.The goal is mostly to make you curious about this magic sand and encourage you to go down that rabbit hole too (we have book recommendations at the end if you don’t know where to start).We also brainstormed an interesting proposal to create a US alternative to TSMC (USSMC?). 📄🕵️‍♂️ MBI’s Semiconductor Deep Dives 🩻🔍* Semiconductors: "To see a World in a Grain of Sand" (sub required 🔐)* Texas Instruments: Leading the Analog Chips Industry (sub required 🔐)* TSMC: The Most Mission-Critical Company on Earth (sub required 🔐) This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit www.libertyrpf.com/subscribe

Here’s something a little different. A fun — but dark! — one.I’m a big fan of Denis Villeneuve, and I was due for a re-watch of ‘Sicario’ (2015, written by Taylor Sheridan).It was the perfect opportunity to nerd out about the film, so I recruited my OSV colleagues Ed William (🇬🇧) and Dylan O’Sullivan (🇮🇪) for that task. (You should follow them on Twitter, and while you’re at it, sign up for the OSV Substack so you don’t miss the cool stuff we’ve got coming.)The things you love are always better when you can share them with others and this is exactly what we do here. We go over every aspect of the film, from the writing, the acting, the cinematography, the music, the metaphors, and scene-by-scene analysis.But mostly, we have fun and I hope that you do too!If you’ve never seen the film, watch it before listening, as the podcast is one giant 🚨SPOILER🚨 — and if you’ve seen it but haven’t rewatched it, I hope we can convince you to do so and that you’ll notice a bunch of new cool details this time around.🎧 Listen on SpotifyIf you prefer to listen on Spotify, here’s the feed:* Liberty’s Highlights podcast feed on Spotify🎧 Listen on Apple PodcastsHere’s the podcast feed on Apple Podcasts:* Liberty’s Highlights podcast on Apple📺 More Film & TV Podcasts 🎥* 🎧 The Last of Us: Going Deep on HBO's Amazing Show with Matt Reustle and Tinkered Thinking 🍄* 🎧 'Severance' Season 1: Going Deep with Mostly Borrowed Ideas (MBI)* 🎧 David Senra on Deadwood (also: founders, entrepreneurs, civilization, Henry Singleton, Walt Disney, David Ogilvy, etc)💚 🥃 Enjoyed this? Want more? 👇You can become a paid supporter to get 1-2x additional editions/week + access to the private Discord + support the recording of more podcasts. This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit www.libertyrpf.com/subscribe

Today, I’m joined by my friend Trung Phan! He’s multi-talented, funny and smart, a great writer, podcaster, and just overall good dude 👍In this conversation, we cover a lot of things from the Trung Expanded Universe, from the network effect at companies like Twitter/X and Facebook to Chernobyl and partying in Vietnam, we talk about creating online and how he got so good at solving the Twitter puzzle, what we learned from Rick Rubin and our mutual love of Phoebe Waller-Bridge and Christopher Nolan, writing a newsletter, doing a podcast, how AI is changing things and why he’s building Bearly.AI, and how ambitions of becoming a screenwriter morphed into something else thanks to the permissionless internet.I had a lot of fun recording this, and I hope it translates when you listen! 💚 🥃Here’s the podcast with Bill Simmons that Trung recommends about 45 minutes into our conversation:* 🎧 How I Built This with Guy Raz — The Ringer: Bill Simmons🎙️ More from Trung 📩Make sure you subscribe to Trung’s newsletter (📩). It’s a mix of long-form features about various companies, products, technologies, entrepreneurs, and funny short-form memes and jokes.The same issue could cover both the science and engineering that went into making iPhone glass more shatter and scratch-resistant using space-age tech AND a meme about wealthy vampires because of compound interest.If you need even more Trung, please make sure to subscribe to ‘Not Investment Advice’, the hilarious and educational podcast that he co-hosts with Jack Butcher and Bilal Zaidi. This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit www.libertyrpf.com/subscribe

On his sixth appearance on the pod, MBI joins me to discuss the most polarizing of the Big Tech companies: Meta Platforms (the artist formerly known as Facebook).Of course, it’s impossible to talk about it without talking about Mark Zuckerberg, so we try to better understand how he thinks about the company that he founded when he was 19, and how he compares to other founders.There was a lot to cover, and I think we touched on most of the big things: Facebook, Messenger, Whatsapp, Instagram, Reality Labs (AR/VR), AI, Threads, regulators, competitors, high-variance founders, and even cage matches (😬)…It was a fun conversation for me, I hope you have as much fun listening to it (and learn a few things about Meta too)! 💚 🥃For more on Meta, check out MBI’s excellent coverage at MBI Deep Dives. He has 10 posts on the company, but I’m going to highlight 5 of them:📄 MBI Deep Dives — META Coverage 🔐* Meta's Moat* Meta's Achilles Heel(s)* Meta 2Q'23 Earnings Update* Meta Needs A Decade Of Efficiency* What’s embedded in Meta’s stock price? (2022)🗄 More podcasts with MBI 🕵️‍♂️* 🎧 Microsoft: Going Deep with Mostly Borrowed Ideas (MBI) 🕵️‍♂️🩻* 🎧 Big Tech Compensation: Going Deep with MBI* 🎧 Going Deep on Cloudflare and Datadog with Mostly Borrowed Ideas (MBI)* 🎧 Going deep on Payments with Mostly Borrowed Ideas (MBI): Adyen, PayPal, Stripe, Square, Amazon, Apple Pay, Google Pay, Visa, Mastercard!* 🎧 'Severance' Season 1: Going Deep with Mostly Borrowed Ideas (MBI)* 🎧 Going deep on Constellation Software with Mostly Borrowed Ideas (MBI) This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit www.libertyrpf.com/subscribe

I’m excited to share with you another fun conversation with my good friend MBI (💎🐕). This marks his sixth appearance on the podcast, putting him in the lead ahead of David Senra with four (not that anyone’s counting!).Our starting point is his Deep Dive on Microsoft, which I strongly recommend:* 📄 Microsoft: The Quintessential Technology Company (sub. required)It’s an excellent primer and even if you’ve been following Microsoft for a while, I bet you’ll learn a few things!In the podcast, we dive deep into Microsoft and draw parallels with other Big Tech companies and their founders. Particularly between Bill Gates and Mark Zuckerberg, but we also discuss Google, Meta, Amazon, and Apple.We also talk about the company’s history of spectacular profitable growth, the Gates era, the Ballmer era, and the ongoing Nadella era. We also look at how Microsoft is positioned in the cloud market against Amazon's AWS and Google’s GCP. ☁️☁️☁️ This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit www.libertyrpf.com/subscribe

Over the years, I have gotten to know Jim through one-on-one conversations and by listening to Infinite Loops and other podcasts where he was a guest.My goal with this podcast is to help you get to know Jim better, from his origin story to his early career in finance and quantitative investing, the writing of his influential book, all the way to the seeds of the idea that became O’Shaughnessy Ventures (OSV) where I now work (more on that below) and how we see the past and future of the Media space.I hope that you will enjoy our conversation and learn a few things even if you’ve been following Jim for years. If this is your introduction to him, I hope you’ll come out on the other side feeling like you have a good understanding of who he is, what his North Star is, and what he’s building. 🏗️🛠️For more context about my joining OSV, see this piece that I wrote about it:* Why I took the job of Head of Infinite Media at O'Shaughnessy Ventures! (OSV) 💡Also, make sure to add Infinite Loops to your podcast player and subscribe to the Infinite Loops substack to keep track of what comes next! This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit www.libertyrpf.com/subscribe

I had the great pleasure of talking with someone I admire a lot: Kevin Kelly!He not only influenced my life directly through his works & ideas but he’s also cited as an inspiration and influence by many of the people that I admire, so I’m sure there’s an indirect influence too!Among other things, we discuss his new book (order your copy today!), creativity, the impact of AI, how to create family traditions and rites of passage, Universal Personal Interns (UPIs), what is scarce in the universe, making friends with older and younger people, and more.Please enjoy my wide-ranging conversation with the inimitable K.K.! 💚 🥃 This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit www.libertyrpf.com/subscribe

🚨 SPOILERS SPOILERS SPOILERS 🚨 If you haven’t seen the show, bookmark this and come back after you’ve seen it. It’s a show worth seeing without spoilers!I’m very pleased that my friends Matt Reustle (🎧🎙️) and Tinkered Thinking (✍️📚) joined me to discuss what may very well turn out to be my favorite TV shows of the year.Above is one of my fave shots. I’m mad that I forgot to mention it in the podcast!Context: Joel wakes up in a panic because he fell asleep during his night watch. He turns around and Ellie is watching over him with the rifle.🎧 Listen on Spotify 🍄If you prefer to listen on Spotify, here’s the feed:* Liberty’s Highlights podcast feed on Spotify🎧 Listen on Apple Podcasts 🍄Here’s the podcast feed on Apple Podcasts:* Liberty’s Highlights podcast on Apple📺 Watch on Youtube 🍄💚 🥃 For more, please subscribe:🗄 More from the Archives 🍄* 🎧 David Senra and Jimmy Soni: 'The Founders' Book Club on the PayPal Mafia 📖* 🎧 Big Tech Compensation: Going Deep with MBI* 🎧 'Severance' Season 1: Going Deep with Mostly Borrowed Ideas (MBI)* 🎧 David Senra on Deadwood (also: founders, entrepreneurs, civilization, Henry Singleton, Walt Disney, David Ogilvy, etc)* 🎧 Interview with David Kim a.k.a. Scuttleblurb (2023 Edition: Exploration as a Service)* 🎧 Going Deep on the Energy Crisis and Nuclear Power with Mark Nelson (Part 1 of 2) 🔌⚡️💡* 🎧 Claude Shannon fan club with Jimmy Soni and David Senra 📖* 🎧 Podcast #6: Jimmy Soni on the PayPal Mafia (Musk, Thiel, Levchin, etc), startups, tech, the research process, and much more* 🎧 David Senra of Founders Podcast (Podcast #11)* 🎧 Cedric Chin: What Operators can Teach Investors, the Study of Expertise, Knowledge Shields, and More (Podcast #10)* 🎧 Going deep on Constellation Software with Mostly Borrowed Ideas (MBI)🐕🎠🕹️🌳🦒🦒 This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit www.libertyrpf.com/subscribe

I’m very happy to share with you this conversation with my two very good friends, Jimmy Soni (📚✍️) and David Senra (🎙📚).We discuss Jimmy’s excellent book The Founders: The Story of PayPal and the Entrepreneurs Who Shaped Silicon Valley, while taking 57 different tangents and detours into things that we find interesting or that are indirectly connected to the main story.I hope you enjoy this special Book Club edition!📃 Full transcript (human-corrected and everything!)* Transcript: David Senra and Jimmy Soni: 'The Founders' Book Club on the PayPal Mafia 📖🎙 Previous Book Club on Claude Shannon 📘📗📕🐁* 🎧 Claude Shannon fan club with Jimmy Soni and David Senra 📖💚 🥃 Enjoyed this? Want more? 👇You can become a paid supporter to get 2x additional editions/week + access to the private Discord + support the recording of more podcasts:Subscribe to Liberty’s Highlights This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit www.libertyrpf.com/subscribe

What could be more exciting than carefully reading through Big Tech proxy statements to look at management incentives, comparing them across companies to see what’s similar and different, what we like and don’t like, and how they rank from best to worst..?If this is not your bag, you’re in luck! MBI did this work for you and shared his findings in a post.But that’s just a starting point: In today’s episode, we go deep into Big Tech compensation, and MBI shares additional thoughts and analysis based on feedback he received after publishing his work. We discuss Apple, Google/Alphabet, Microsoft, Amazon, and Meta.For a lot more good stuff from Mostly Borrowed Ideas (💎🐕), sign up for MBI Deep Dives (now is the best time to sign up, because prices are going up on March 1st, 2023).🎧 Listen on SpotifyIf you prefer to listen on Spotify, here’s the feed:* Liberty’s Highlights podcast feed on Spotify🎧 Listen on Apple PodcastsHere’s the podcast feed on Apple Podcasts:* Liberty’s Highlights podcast on Apple📺 Watch on Youtube📃 Full transcript of the podcast* Transcript: Big Tech Compensation: Going Deep with MBI🎙 More podcasts with MBI:* 🎧 Going Deep on Cloudflare and Datadog with Mostly Borrowed Ideas (MBI)* 🎧 'Severance' Season 1: Going Deep with Mostly Borrowed Ideas (MBI)* 🎧 Going deep on Payments with Mostly Borrowed Ideas (MBI): Adyen, PayPal, Stripe, Square, Amazon, Apple Pay, Google Pay, Visa, Mastercard!* 🎧 Going deep on Constellation Software with Mostly Borrowed Ideas (MBI)🗄 More Podcasts from the Archives* 🎧 Interview with David Kim a.k.a. Scuttleblurb (2023 Edition: Exploration as a Service)* 🎧 Going Deep on the Energy Crisis and Nuclear Power with Mark Nelson (Part 1 of 2) 🔌⚡️💡* 🎧 Claude Shannon fan club with Jimmy Soni and David Senra 📖* 🎧 Podcast #6: Jimmy Soni on the PayPal Mafia (Musk, Thiel, Levchin, etc), startups, tech, the research process, and much more* 🎧 David Senra of Founders Podcast (Podcast #11)* 🎧 Cedric Chin: What Operators can Teach Investors, the Study of Expertise, Knowledge Shields, and More (Podcast #10)💚 🥃 Enjoyed this? Want more? 👇You can become a paid supporter to get 2 additional editions/week + access to the private Discord + support the recording of more podcasts: This is a public episode. If you’d like to discuss this with other subscribers or get access to bonus episodes, visit www.libertyrpf.com/subscribe