TSMC, and Samsung are both very glad at FAANG trying to "own the world" — more business for them!

I don't see Morris Chang running to open an advertising shop, webhosting company, or mine bitcoins, thought the later was much speculated.

I think this year has proven that TSMC does have a very dominant position in the industry.

I think your comment is being misunderstood because of the ambiguity of "this world".

I'm not quite sure I follow. I guess the same reason AMF isn't really much of a thing anymore? I don't think making a pinsetter would be a big deal now with ready access to parts and tools, but I'd imagine it was quite a feat in the 40's.

I think I need more description around "owning the world". Sure, those leisure focused companies are pocketing big dollars, good for them! But they don't really do much, they're only meaningful given the backdrop of the larger economy.

One reason I'd say is because there's an at best weak relationship between "hard" and "well-paid".

Coca Cola has a larger market cap than Pfizer. mRNA vaccines are definitely a lot harder to make than sugar water. At an individual level sales people are often paid more than the engineers in the org, despite the latter doing much more complex work and having specialized training.