I think it’s a mistake to focus on ASML. Manufacturing silicon chips is incredibly complex, yes some of the complexity is handled by ASML but that’s one tool in a massive chain. Think about it partly in the same way as car manufacturers, point at a part in my car? Bosch probably made it. That doesn’t mean my car is a Bosch. TSMC is about bringing together the entire tool chain. To compare them to their biggest competitors- the reason Intel failed partly because they made a bet on technology for the next generation of chips and it didn’t pan out, but the underlying reason was their processes failed.