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"What's fascinating about all this is how much of it comes down, not to finance or technology, but to people and what they know. In that sense the FT's deep dive into TSMC's travails reminded me of a striking piece of research conducted decades ago by the philosopher of science Harry Collins when he was a PhD student. Collins was interested in how knowledge gets transferred and intrigued by a particular piece of technology, the TEA laser. This was a device that was comprehensively documented in the physics literature but which research laboratories were unable to replicate. What Collins discovered was that "nobody could make the laser work if they hadn't spent time in a laboratory that already had a working laser. There was very good information in the journals about how to build such a laser. But anybody who tried to put one together using written articles failed. They had something that looked like a laser on their bench, but it wouldn't lase.""