"If you wait any longer, you may not have a chance." 3 lessons for you from the launch of the new book "The Autobiography of Chung-Mou Chang"

"If you wait any longer, you may be able to write better, but you may never have the chance again." TSMC founder Morris Chang said at the launch of the new book "The Autobiography of Chang Chung-Mou" that he once had a dream of being a writer because he read Hemingway's short story "The Snows of Kilimanjaro", the protagonist of the story is ill and about to die, and has no chance to write down the story he has always wanted to write. This was also the original intention of him starting to write his autobiography, which was finally published in 2024.

Morris Chang released the first volume of "The Autobiography of Chang Chung-Mou" in 1998, describing his experiences from childhood to his first entry into society, including his childhood when he experienced war in China, his baptism in the United States through Harvard University and MIT, and then his entry into Texas Instruments serves as the engineering supervisor.

The second volume of "The Autobiography of Chang Chung-Mou" continues the story of his promotion from Texas Instruments to the vice president of the company group and the founding of TSMC. "Going to Taiwan to found TSMC is a date with destiny."

Everyone is familiar with the story of TSMC, but what fewer people know is that before he founded TSMC at the age of 56, Chang had several ups and downs in the workplace. In "The Autobiography of Chang Chung-Mou," he wrote about his career development along the way. These stories can be condensed into 3 lessons, including the process of going from the grassroots level at TI to the vice president and running TSMC.

Lesson 1: Although setbacks are a blow, they also provide nutrients for the future.

Before founding TSMC, Zhang Zhongmou went through several setbacks. The most representative one was that he became the vice president of TI Group in 1972. The next step was to become the president. However, because of his different ideas from the top management, he was transferred repeatedly and was even dismissed. After being demoted, he believed that he had no room for further development in Teck Instruments, so he asked to leave in 1983.

After Texas Instruments, Zhang Zhongmou went to General Equipment as general manager. He did not agree with General Manager on how to solve the loss problem and was asked to resign. ITRI ​​was succeeded by the president. The American style was different from the Taiwanese bureaucracy. He vigorously promoted reforms (including allowing half of the funding to come from the private sector, allowing ITRI to connect with private industry, and retaining the 3% of colleagues with the highest performance). etc.) was difficult to practice, and finally resigned from the position of dean in 1988.

Looking back on three resignations in five years, "Resigning means admitting defeat! After resigning three times, I thought there was no way out." Although it was a big blow, looking back now, he believes that these experiences have brought nourishment, such as De Yi gave him world-class training, GM allowed him to see the financial side of the technology industry, and ITRI allowed him to understand Taiwan's people and sophistication, all of which were preparing him to start a world-class company.

Lesson 2: Be careful of short-term incentives and look at life with "long-term thinking"

Whether in business management or life planning, Morris Chang thinks from a long-term perspective to help himself go further. Just like one of the business philosophies written by Morris Chang for TSMC: "Pay attention to long-term strategies and pursue sustainable operations." He believes that running a business is a marathon, not a sprint.

This matter can be seen from when he was in Texas Instruments.

In the 1970s, computers had just been invented and welcomed by the market. At that time, TI executives thought that it would enter the consumer product market. However, Morris Chang felt that this was a wrong decision. Firstly, it had never been done before, and secondly, it would distract resources from focusing on semiconductors. Later, TI's senior management still insisted on entering the consumer market. The consumer products department suffered losses for several consecutive years, which also affected TI's revenue, which proved Morris Chang's foresight.

When it comes to life planning, he also takes a long-term perspective. In the early days of Texas Instruments, his supervisor offered him the opportunity to study for a Ph.D. at Stanford University. Doing so would mean giving up a short-term promotion opportunity, but he still chose to study at Stanford. When he returned, his subordinates and colleagues had already been promoted to positions higher than his. high position.

However, he was not discouraged. He believed that he had a better understanding of semiconductor physics and technology and still had great development opportunities in the workplace. Within 2 months after returning, he made great achievements and was promoted to the general manager of the Germanium Transistor Department.

Lesson 3: It's never too late to challenge! The golden age comes after 60 years old

Morris Chang believes that his golden age is between the ages of 60 and 85, which is the days after he founded TSMC. During this period, he stayed in good health, actively visited customers, and discussed national affairs with dignitaries from various countries (he once mentioned that one of the most important things for corporate executives is to bring the outside world into the company). He also believed that his professional skills Knowledge, experience and judgment are sufficiently mature.

More importantly, he was determined not to give up (he viewed resignation as admitting defeat and giving up). Generally speaking, entering the age of retirement is the beginning of Morris Chang's golden era. The experience accumulated in the past is fermented, which also brings different reflections to the public. It is never too late to challenge.

Looking back on his semiconductor career, Morris Chang finally said: "I don't have many good decisions. What I am more proud of is that I have not made any very bad decisions."