It's clear that the fabless model is not broken, but it's also clear that Intel is able to leverage their process technology to give them an advantage (a technology lead) over what their (fabless) competitors can deliver. I think Bohr was mainly targeting their chief competitor, AMD, with his remarks. Let's not forget that microprocessors are still Intel's core business and he knows that whatever he claims will be something that AMD has to deal with in their next investor/analyst call. It's just good business to hit your competition hard when you have an advantage. I'm not arguing that AMD doesn't have some advantages of their own, but so far Intel has been winning the race since AMD went fabless- and it looks like Intel is accelerating. From a process perspective I don't think that even TSMC can keep up- and that's really a financial argument, not based on the ability of the company or their people. Intel can use their microprocessor business, which is very high margin- and can tolerate a high cost for new processes- to fund their process development at every new node. They have more to spend and can do it better and faster than anybody. Let's not forget that anything within 5 years of release is no longer non-competitive, so at that point it isn't an eco-system, but individual cost to develop a new technology for manufacturing. Sure the common platform shares development, but TSMC isn't involved in that, they have to go it alone- Intel can spend more (than CP or TSMC or anybody else really), so they can afford to be the first with every new technology- and it looks like that is their game. TSMC may have plenty of revenue, but even Samsung, which processes more Si than Intel, doesn't have the cash to match Intel in development (look at Intel revenue vs. SS, and then remind yourself SS is actually processing more Si- memory is lower margin). Intel has a lead and for the foreseeable future it looks like they can keep it. But I really think they are just trying to stick it to AMD with their comments- it's a pretty clear ploy from that perspective- and TSMC doesn't really need to worry about it- they know their model works. AMD has to answer all the questions now- "Why'd you go fabless?" "Aren't you just falling farther behind?" " How can you catch up?" etc. I'm sure Bohr will somehow get a listen to that audio and have a good laugh.