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The semiconductor industry is known to be a volatile, fast-changing, cutthroat business, driven by the ruthless Moore's law dictating doubling of performance every two years. As a result, semiconductors can either reduce costs by 50% every 18-24 months, or for the same cost, they can double performance.

However, Moore's law is getting much more challenging to implement. The capital burden to build leading-edge facilities is growing up nonlinearly, and fewer and fewer players could actually scale in the Moore's law curve. The goal has shifted from doubling the performance every two years to bringing out incremental performance that people will pay for.

The biggest challenge of the whole semiconductor industry can be summed up in just five words:...

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