Revised primer
The death of fabless capital efficiency?
The fabless model did not disappear. Its manufacturing capital migrated into commitments, prepayments, inventory, guarantees, and strategic relationships.
Read the primerResearch
Arguments that can be audited and disproven.
Long-form work connects the thesis to governed claims, downloadable data, visible caveats, and a public prediction baseline.
Evidence paths
Move from argument to record.
Inspect commitments, CapEx, PP&E, inventory, definitions, and downloads.
Open Evidence →See normalized snapshots, research notes, and explicit coverage gaps.
Browse Companies →Map the qualified layers that can stop a complete system.
Map Bottlenecks →Audit source grade, date, publisher, URL, and caveat notes.
Open Sources →