Money Talks: Opening gambit at Intel
Money Talks from The Economist
The Economist
4.4 • 1.2K Ratings
🗓️ 8 September 2021
⏱️ 25 minutes
🧾️ Download transcript
Summary
The notoriously insular American chipmaker wants to throw open the doors. Succeed or fail, this reversal will shake up a $600bn industry at the heart of the global economy. Plus, Harvard economist Edward Glaeser explains how the pandemic is transforming the world’s cities. And, as high streets and malls open, can the direct-to-consumer boom last? Patrick Lane hosts.
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Transcript
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| 0:00.0 | Imagine sweeping through green fields, floating five feet above ground, sun on your face as you slide by on track to your destination, not a car in the world, as you simply lean back. |
| 0:17.0 | And before you know it, you're there. |
| 0:20.0 | This is how travel should feel, and on our trains, it does. |
| 0:25.0 | Avanti West Coast, feel good travel. |
| 0:38.0 | America's ship-making champion, Intel, has a reputation for being hermetically sealed. |
| 0:45.0 | But a new boss is opening its gates and shaking up the industry in the process. |
| 0:55.0 | You're listening to money talks from the economist, our weekly podcast on the markets, the economy and the world of business. |
| 1:02.0 | I'm Patrick Lane. And also coming up on today's show, how the pandemic is transforming global cities. |
| 1:09.0 | What has seemed to me to be most robust is the human desire to be with other human beings. |
| 1:15.0 | And as bricks and mortar shops reopen, two eye-catching IPOs are a test for the direct to consumer industry. |
| 1:23.0 | What these farms could be set for a rude awakening. |
| 1:32.0 | It used to be that virtually all PCs ran on window software and chips made by Intel. |
| 1:41.0 | With that almighty partnership known as Wintel, for a long time Intel and Microsoft made a formidable pair. |
| 1:50.0 | But that insularity, and perhaps a touch of arrogance, also threatened to be their undoing. |
| 1:57.0 | So when Satin Adela took over as CEO of Microsoft in 2014, he started by opening up windows to competition from the likes of Linux. |
| 2:07.0 | It was part of a shake-up that helped Microsoft to a stunning revival and a market value of over $2 trillion. |
| 2:15.0 | Now, half a year in, Intel's new boss, Pat Gelsinger, wants to throw open some windows of his own. |
| 2:22.0 | It's a strategy that, whether it succeeds or fails, could reshape a $600 billion industry at the heart of the global economy. |
| 2:32.0 | When Intel is still and has been for a long time, the world's biggest maker of semiconductors. Not in volume, but they make the most money. |
| 2:41.0 | Ludwig Ziegler is our US technology editor. |
| 2:45.0 | Intel's recipe for success has been that it's an integrated device manufacturer. |
| 2:50.0 | That's the term of art in the chip industry. |
... |
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