In today’s dog-eat-dog world, change is constant and accelerating. Other countries are stealing our factories and jobs and are hungry for more. That is the new reality.
For example, in the 1990s, a California-based company called FormFactor developed a new and faster way to test semiconductors, the heart of today’s computers. Chipmakers needed assurance their products operate efficiently, consistently and have long-term durability.
FormFactor was founded by a Ukrainian immigrant named Igor Khandros, who was an IBM engineer. Khandros developed the device, found investors and manufactured it in California.
The company was profitable and cruising along until a Korean company, Phicom, copied the device and started making it cheaper. That undercut FormFactor sales. It sued Phicom for patent infringement, but lost in a Korean court.
For FormFactor to compete and survive, it needed to invest millions to develop a more advanced product. But like many companies it needed cash.