At the beginning of 2021, the chip giants have changed coaches one after another.
On January 5, American chip manufacturer Qualcomm announced that the company’s CEO Steve Molenkov will retire this year. The current president, Cristiano Amon, will succeed the CEO. The appointment will take effect on June 30.
Compared with the retirement handover that Qualcomm CEO notified in advance, Intel’s coaching change is a bit sudden. On January 13, Intel issued a statement stating that the current CEO Bob Swan will leave on February 15 and that Pat Kilsinger, CEO of VMware, a provider of cloud infrastructure and mobile commerce solutions, will become The eighth CEO of Intel Corporation.
Swann and Kilsinger represent two very different styles. Swan joined Intel in 2016 as CFO. In 2018, after the former CEO Ke Zaiqi announced his resignation, Swan was appointed by Intel’s board of directors as interim CEO, and he became “regular” on January 31, 2019.
During his tenure as CEO, Swann led Intel’s many commercial mergers and acquisitions, but the technical level did not achieve much. In the summer of 2020, Intel announced a delay in the release of 7-nanometer chips due to process defects, but in the same period, Samsung and TSMC have already completed the development of 7-nanometers and began to develop to 5 nanometers or even 3 nanometers. At the same time, AMD’s hot pursuit and major customer Apple began to adopt self-developed chips have brought an impact on Intel.
Kilsinger is a technical background. Prior to this, he worked at Intel for 30 years and was appointed as the first Chief Technology Officer (CTO) in Intel’s history in 2000. During Intel, he promoted the creation of key industry technologies such as USB and Wi-Fi, and played a key role in the Core and Xeon series. He left Intel to join EMC in 2007, and has served as the CEO of Verizon since 2012. During this period, he promoted the company’s growth in the areas of cloud infrastructure, corporate mobility and network security, which increased the company’s market value from approximately US$24 billion to US$56 billion.
”In the critical period of Intel’s transformation, it is necessary to make full use of Kilsinger’s technology and engineering expertise to develop.” Intel said. On the day of the announcement of the appointment, Intel’s stock price rose by 6.97%, while Wei Rui’s stock price fell by 6.79%.
Charlie Munger: Technology is an opportunity and a killer
In December 2020, Charlie Munger attended an in-depth interview held by the California Institute of Technology online and shared a lot of investment opinions. The following is part of the interview:
”75 years ago, the company I invested in invented a new type of telegraph. We thought it could change the world, but someone invented something called a tape and didn’t tell me, so when we put our When the telegraph machine was put into the market, we only sold 3, and only 3 nationally and globally. Technology is an opportunity but also a killer. My first entrepreneurial experience almost made me give up investment.
”In the long run, , (In the United States) corporate performance is more in line with the laws of biology. In nature, all individuals will die. It is only a matter of time. The foods that were popular when I was young are not available anymore. This is an issue that needs attention in long-term investment. Look at the names of the dead companies in the newspapers, the American Steel Company, John Rockefeller’s Standard Oil Company, which we lived in the shadow of them for the first half of our lives, this is the law of nature, and no company can resist.
”Everyone uses new technology, but it is also very important to have assets that cannot be replaced by technology. How would you transport the port of Los Angeles to Chicago without rail?
”A good investor is like a good chess player, almost innate. . They need to know a lot of knowledge, but to a large extent it is the character that is decisive. You need to delay gratification and be willing to wait. This is a strange and contradictory combination. Good investment requires patience and ambition at the same time, but not many people can do it.
”The most important thing to avoid mistakes is to know what you are good at and what you are not good at, and know the boundaries of your abilities. This is difficult to do because people naturally think they are smart.”