Since the days of the Fairchild Eight, the semiconductor industry has grown into the $300B industry of today through a virtuous cycle of entrepreneurs starting new companies that either went public or were acquired by larger companies. Or so it did for the first 40 years or so.
In the first 20 years of the industry, giants like Intel, National, and AMD were borne from Fairchild and built around the IDM (independent device manufacturer) model with each company owning its own fab. These companies went on to spin out their own innovators into successful companies as shown in this nifty graphic.
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