Thank you for a great article. Just want to note that it is misleading to describe Toshiba Memory / Kioxia as "market leader" at the time of Bain takeover. I was an engineer at the Yokkaichi plant at the time, and it was clear that the company had lost its engineering edge long ago. Of course Bain takeover did not help, but the exodus of engineering talent started long before.
Also, KIOXIA's competitors are profitable in their DRAM/HBM businesses, whereas NAND business barely sustainable everywhere. KIOXIA is worse off because it does not have a DRAM branch...
Thank you for a great article. Just want to note that it is misleading to describe Toshiba Memory / Kioxia as "market leader" at the time of Bain takeover. I was an engineer at the Yokkaichi plant at the time, and it was clear that the company had lost its engineering edge long ago. Of course Bain takeover did not help, but the exodus of engineering talent started long before.
Also, KIOXIA's competitors are profitable in their DRAM/HBM businesses, whereas NAND business barely sustainable everywhere. KIOXIA is worse off because it does not have a DRAM branch...
Excellent — thank you for these real world insights ; many cheers ;-j