tag:blogger.com,1999:blog-28487784045726572272024-03-16T23:46:14.530-04:00Thomas D. JaySemiconductor Industry ConsultantThomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comBlogger45125tag:blogger.com,1999:blog-2848778404572657227.post-57781780568118617972024-02-21T03:21:00.016-05:002024-02-23T10:49:08.367-05:00The Chips and Technology Act – I’m from the government and I’m here to help you build a wafer fab. (Updated 2/23/24)<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiLdM9uTTTGDk9ssGz_6FPMO3BLDm2MrD0iU9D4eid2Rfjsj3zUN8vWRk3D3dixLC4f5vJUoknlmH3V-o6oTllNUWhNr9vv1HyQz8KPVnNhUmGHar-1_nFuJgEVRNKPpXXfeEpKk7khbbRcgdzbeF7ntGBPg9dPUrrgHn_n7XhGHhri4PCq9MTZgRzOeyO1/s1303/TDJ_TechnologyGroupLogo_01_21_2013.jpg" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="797" data-original-width="1303" height="122" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiLdM9uTTTGDk9ssGz_6FPMO3BLDm2MrD0iU9D4eid2Rfjsj3zUN8vWRk3D3dixLC4f5vJUoknlmH3V-o6oTllNUWhNr9vv1HyQz8KPVnNhUmGHar-1_nFuJgEVRNKPpXXfeEpKk7khbbRcgdzbeF7ntGBPg9dPUrrgHn_n7XhGHhri4PCq9MTZgRzOeyO1/w200-h122/TDJ_TechnologyGroupLogo_01_21_2013.jpg" width="200" /></a></div><span style="font-family: arial; font-size: x-large;">In 1986 President Reagan warned that adverse effects could result from misdirected government policy. His famous quote is preserved in the hope of guiding future generations of Americans. [1] "The nine most terrifying words in the English language are: I'm from the Government, and I'm here to help."</span><div><span style="font-family: arial; font-size: x-large;"><br /></span><div><span style="font-family: arial; font-size: x-large;">Some claim American semiconductor manufacturers have lost their competitive edge in the global market place. It’s a complex market to be sure. Semi manufacturers have been evaluating foreign investment opportunities seeking over seas tax shelters but for strategic marketing and national security interests, emphasis is now being placed on US based wafer fab/foundry construction and operation. Although American technology is cutting edge, complications encountered in US wafer fab construction have been compounded by the Chips and Technology Act. Intended as an incentive for investment in the technology sector, applicants seeking Chips Act funding can incur significant barriers to program entry. Participants can experience delays in the resolution of application and compliance issues, construction schedules and the timely release of granted funding. Further delays can be incurred resolving regulatory and zoning issues, immigration policy and skilled work force/ labor union issues. Election cycles and the prevailing political climate can also impact capital amortization timing and future program cost. </span></div><div><span style="font-family: arial; font-size: x-large;"><br />Some participants in the Chips Act program have experienced delays in the release of granted funding. Samsung’s new fab project near Taylor, Texas was scheduled to begin operation in late 2024 but has been delayed till 2025 awaiting the release of Chips Act funding and an improvement in the economy. Similarly, other fabs have been delayed (see Tom’s Hardware web site link: [2] <a href="https://www.tomshardware.com/tech-industry/semiconductors/us-govts-sluggish-chips-act-payouts-slam-the-breaks-on-samsungs-fab-company-delays-mass-production-at-texas-fab-to-await-further-chips-funding-report">https://www.tomshardware.com/tech-industry/semiconductors/us-govts-sluggish-chips-act-payouts-slam-the-breaks-on-samsungs-fab-company-delays-mass-production-at-texas-fab-to-await-further-chips-funding-report</a>.</span><div><span style="font-family: arial; font-size: x-large;"><br />A few industry pundits advocate US government intervention as a guiding force in strategic semi-industry program management. The automotive industry has already seen the unintended effect of government subsidies on electric vehicles. A glut of unsold EVs have auto manufacturers pondering a return to hybrid and gasoline vehicles until charging stations and the energy grid are complete. Auto makers will incur a huge loss in the interim. Ill advised political forces steering the Chips Act could similarly throw the semi industry out of sync. Multi $Billion delays in grant funding can result in the government defining semi market cycle timing. Given the size of the grants some may be content to await funding. The caveat: A government driven economy vs. a consumer economy. <br /><br /> Fabs and foundries have become multi-billion dollar projects with infrastructure and scale commensurate with the DOE. Semi industry management must be independent of undue US government influence on market strategy, finance or regulatory compliance requirements. At the same time we must consider the opportunity to secure funding on the scale required for tomorrow’s wafer fabs. Government grants are one such option provided they're in the best interest of the recipients.<br /><br />Semi Industry CEOs must navigate global and financial markets with great skill and diligence. We might explore the idea of modifying the Chips Act, and to expand the transparency of program grant applications and awards. Only then can we ensure the success of capital intensive projects and their critical completion timetables.<br /><br />That said, it’s important everyone understand the scale of the Chips Act and the positives/negatives of the program. I encourage you to click on this link to the Chips Act and study it in detail (all 78 pages). It's important to comprehend it’s scope, and potential to impact the semiconductor economy.<br /><br />[3] The Chips Incentive Program<br /><a href="https://www.nist.gov/system/files/documents/2023/06/23/CHIPS-Commercial%20Fabrication%20Facilities%20NOFO%20Amendment%201.pdf">https://www.nist.gov/system/files/documents/2023/06/23/CHIPS-Commercial%20Fabrication%20Facilities%20NOFO%20Amendment%201.pdf <br /></a><br />The semiconductor industry provides a strategic dual purpose product to the both the consumer and our military. American investors and capital markets have always sustained a robust and innovative US semi industry. Let’s stay the course and make sensible decisions for the future.<br /><br />Regards to all,<br /> <br />Thomas D. Jay<br />Semiconductor Industry Consultant<br /><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com</a><br /><a href="https://www.tdjtechnologygroup.com/">TDJ Technology Group.com</a><br /><a href="http://www.youtube.com/channel/UC8T5Lc8XntcOTYqgXLJbwig/featured">Thomas D. Jay YouTube Channel</a><br /><br /><a href="https://www.youtube.com/watch?v=vIiqAcGr614"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSWMtKeYNfjOtSoiP7siExh7qOgNlFKiS95eTocjrJHRyvhH8OFJxZftwFImbGmBt45OICDcSOQGcwl9o67XAcmSn0GFmSkCQjjSt3-oA1JaxUdhjfweu5JrIMuF8Mq9-9n738Q5Vv8yU7/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" /></a><br /><br />Corporate, private entities or publications referenced or linked in this article are the respective owners of their logos, trademarks, service marks, media content and intellectual property. Unless otherwise disclosed, Thomas D. Jay has no financial interest in companies referenced in blog articles or other published media communications. Thomas D. Jay is not a registered financial advisor. No representation is made to either buy or sell securities. Opinions expressed by Thomas D. Jay are his own. Thomas D. Jay does not employ or otherwise utilize/authorize third party agents to express his opinions, represent his interests or conduct business on his behalf except where formally contractually designated. Thomas D. Jay opts out of requests to share personal information or unidentifiable user data. Thomas D. Jay does not agree to indemnify or hold harmless vendors, clients or third parties to related contractual agreements and reserves the right to applicable legal remedies in lieu of arbitration. Thomas D. Jay retains all copyright and moral rights to his published material, content and brand marketing, and shall in no case be represented, depicted or characterized by parties/entities other than his published "About Thomas D. Jay" descriptor. Contractual agreements are to be written and interpreted in the English language and are subject to the laws of the United States. These terms and conditions shall supersede any conflicting agreement. Clients, vendors and concerned parties should check my blog site at <a href="http://www.thomasdalejay.blogspot.com/">www.thomasdalejay.blogspot.com</a> for periodic updates or changes to theses terms.<br /><br />References and acknowledgements:<br /><br />[1] </span><span style="font-family: arial; font-size: x-large;">Excerpt, Ronald Reagan Presidential Library <a href="https://www.reaganfoundation.org/ronald-reagan/reagan-quotes-speeches/news-conference-1/">https://www.reaganfoundation.org/ronald-reagan/reagan-quotes-speeches/news-conference-1/</a></span></div></div><div><span style="font-family: arial; font-size: x-large;"><br /></span><div><span style="font-family: arial; font-size: x-large;">[2] Tom's Hardware<br /><a href="https://www.tomshardware.com/tech-industry/semiconductors/us-govts-sluggish-chips-act-payouts-slam-the-breaks-on-samsungs-fab-company-delays-mass-production-at-texas-fab-to-await-further-chips-funding-report">https://www.tomshardware.com/tech-industry/semiconductors/us-govts-sluggish-chips-act-payouts-slam-the-breaks-on-samsungs-fab-company-delays-mass-production-at-texas-fab-to-await-further-chips-funding-report</a>.<br /><br />[3] The Chips Incentive Program, NIST<br /><a href="https://www.nist.gov/system/files/documents/2023/06/23/CHIPS-Commercial%20Fabrication%20Facilities%20NOFO%20Amendment%201.pdf">https://www.nist.gov/system/files/documents/2023/06/23/CHIPS-Commercial%20Fabrication%20Facilities%20NOFO%20Amendment%201.pdf<br /></a><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /></span><br /></div></div></div>Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-44201577786725154752023-03-26T21:05:00.003-04:002023-03-27T09:21:50.347-04:00A Tribute to Gordon E. Moore 1929-2023<div><br /></div><span style="font-family: arial; font-size: x-large;"><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhNPRs7rBqBozPC_B31D-nhe3p65QfV87RF1Sg4oyjWaVRlWmbfsFJb9GwKrmrnZqJhDXnonM6hvISiaBmemBbU6TdhmbksKfTD0yiJXFV8WdLdp2zovBdhKUeBUT0vyR3rUtAkP-P1tfING2Fv9Cpa64AN2oDcTDYPNygpNIKPmrvK_4vkbeoBi3qw8g/s1303/TDJ_TechnologyGroupLogo_01_21_2013.jpg" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="797" data-original-width="1303" height="122" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhNPRs7rBqBozPC_B31D-nhe3p65QfV87RF1Sg4oyjWaVRlWmbfsFJb9GwKrmrnZqJhDXnonM6hvISiaBmemBbU6TdhmbksKfTD0yiJXFV8WdLdp2zovBdhKUeBUT0vyR3rUtAkP-P1tfING2Fv9Cpa64AN2oDcTDYPNygpNIKPmrvK_4vkbeoBi3qw8g/w200-h122/TDJ_TechnologyGroupLogo_01_21_2013.jpg" width="200" /></a></div><div style="text-align: left;">This week the semiconductor industry mourns the passing of Gordon Moore, co-founder of Intel and credited with pioneering the computer chip industry and the miraculous transformation of all things electronic. Gordon and his industry compatriots conceived and began the manufacture of the integrated circuits we’ve come to know as computer chips. In the following years industry advancements in microlithography enabled a geometric progression in computing power while continually reducing device size and cost. This geometric expansion in computing power came to be known as Moore’s Law, a concept who’s limits have been extended as physical barriers and engineering challenges have been overcome.</div></div><div style="text-align: left;"><br /></div><div style="text-align: left;">How might we celebrate the life and contributions of Gordon and Moore’s Law in a way that adequately portrays the transformation of our industry and global society? A tough assignment, my best response below.</div><div style="text-align: left;"><br /></div><div style="text-align: left;">A few years ago I received a consultation request from an individual seeking background and discussion/implications of Moore’s Law. I enjoy engaging conversation on semi industry matters and contemplated how to best respond. I recalled an archived YouTube presentation by Gordon Moore himself titled “Behind the Ubiquitous Microchip” which was captured by University of California Television, UCTV. In my opinion the video is priceless. The early days of the semiconductor industry are recalled by Gordon along with the concept of what we now know as Moore’s Law. Gordon tells the story with great humility and whit conveying the human side of an industry equation we’ve all come to know. In a response email I declined the requested consultation but instead included a link to Gordon’s UCTV presentation. I couldn’t have told the story better that Gordon himself. I’ve never had the honor of meeting Gordon but after viewing this video I somehow feel I know him. For years I’ve had this video posted on my YouTube channel, the only item selection under my play lists. The video, “Behind the Ubiquitous Microchip” runs about twenty eight minutes in length. If you haven’t seen it, set aside some idle time to gain valuable insight on our industry and celebrate a well deserved tribute to Gordon Moore.</div><div style="text-align: left;"><br /></div><div style="text-align: left;">We’ll miss you Gordon.</div><div style="text-align: left;"><br /></div><div style="text-align: left;">[1] Click on the link for Gordon’s video here: <a href="https://www.youtube.com/watch?v=fxLnbVjKXmQ&list=PLVMW-w8WazD50xSLS0nUx8xREQCYabMqa">https://www.youtube.com/watch?v=fxLnbVjKXmQ&list=PLVMW-w8WazD50xSLS0nUx8xREQCYabMqa</a></div><div style="text-align: left;"><br /></div><div style="text-align: left;"><div><span style="font-family: arial; font-size: x-large;"><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif"><span face=""arial" , "helvetica" , sans-serif" style="font-size: x-large;">Regards to all,</span></span></span><br /><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif"><span face=""arial" , "helvetica" , sans-serif" style="font-size: x-large;"> </span><span face=""arial" , "helvetica" , sans-serif" style="font-size: x-large;"><br />Thomas D. Jay</span></span></span><br /><span face=""arial" , "helvetica" , sans-serif" style="font-size: x-large;">Semiconductor Industry Consultant<br /><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com</a><br /><a href="https://www.tdjtechnologygroup.com/" target="_blank">TDJ Technology Group.com</a><br /><a href="http://www.youtube.com/channel/UC8T5Lc8XntcOTYqgXLJbwig/featured">Thomas D. Jay YouTube Channel</a><br /><br /><a href="https://www.youtube.com/watch?v=vIiqAcGr614"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSWMtKeYNfjOtSoiP7siExh7qOgNlFKiS95eTocjrJHRyvhH8OFJxZftwFImbGmBt45OICDcSOQGcwl9o67XAcmSn0GFmSkCQjjSt3-oA1JaxUdhjfweu5JrIMuF8Mq9-9n738Q5Vv8yU7/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" /></a></span><br /><br /><span face=""arial" , "helvetica" , sans-serif" style="font-size: x-large;">Corporate, private entities or publications referenced or linked in this article are the respective owners of their logos, trademarks, service marks, media content and intellectual property. Unless otherwise disclosed, Thomas D. Jay has no financial interest in companies referenced in blog articles or other published media communications. Thomas D. Jay is not a registered financial advisor. No representation is made to either buy or sell securities. Opinions expressed by Thomas D. Jay are his own. Thomas D. Jay does not employ or otherwise utilize/authorize third party agents to express his opinions, represent his interests or conduct business on his behalf except where formally contractually designated. </span><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif"> Thomas D. Jay opts out of requests to share personal information or unidentifiable user data.</span></span><span face=""arial" , "helvetica" , sans-serif" style="font-size: x-large;"> Thomas D. Jay does not agree to indemnify or hold harmless vendors, clients or third parties to related contractual agreements and reserves the right to applicable legal remedies in lieu of arbitration<span face=""arial" , "helvetica" , sans-serif">. </span></span><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif">Thomas D. Jay retains all copyright and moral rights to his published material, content and brand marketing, and shall in no case be represented, depicted or characterized by parties/entities other than his published "About Thomas D. Jay" descriptor. Contractual agreements are to be written and interpreted in the English language and are subject to the laws of the United States. These terms and conditions shall supersede any conflicting agreement. Clients, vendors and concerned parties should check my blog site at <a href="http://www.thomasdalejay.blogspot.com/">www.thomasdalejay.blogspot.com</a> for periodic updates or changes to theses terms.</span></span><br /><br /><br /><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif"></span></span><b><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif">References and acknowledgements:</span></span></b><br /><br /><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif">[1] YouTube, Gordon Moore, </span></span></span>Behind the Ubiquitous Microchip”, 2006 University of California Television, UCTV. </div><div><a href="https://www.youtube.com/watch?v=fxLnbVjKXmQ&list=PLVMW-w8WazD50xSLS0nUx8xREQCYabMqa">https://www.youtube.com/watch?v=fxLnbVjKXmQ&list=PLVMW-w8WazD50xSLS0nUx8xREQCYabMqa</a></div><div><span style="font-family: arial; font-size: x-large;"><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif"><div><br /></div></span></span></span></div></div> <div style="text-align: left;"><br /></div><div style="text-align: left;"><br /></div> <div style="text-align: left;"><br /></div></span><div style="text-align: justify;"><br /></div>Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-47822181438042726572022-07-15T15:52:00.004-04:002022-07-15T22:00:03.837-04:00After a Three Year Covid Moratorium The Ultra Music Festival Returned to Miami in March 2022 - Your Weekend Assignment is to Catch Up on the Party <p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg1FyzVzQKan_XaselOevC9Jdk_j8G3ivByk4QmMiSI5ms0JcUdV1jOZup77GdubggnxGLxSIqDt5UBuxM08HvysbNQUJqqvj0ckFZKPWQ_tjeYng0OsY2ttRQ1p0hruJLxbhxObXQOeYZzX3Vw98fCW_oz67Ho_QWcrOiZ7zfyAmv_3czjjwUhvnq_qQ/s1303/TDJ_TechnologyGroupLogo_01_21_2013.jpg" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="797" data-original-width="1303" height="122" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg1FyzVzQKan_XaselOevC9Jdk_j8G3ivByk4QmMiSI5ms0JcUdV1jOZup77GdubggnxGLxSIqDt5UBuxM08HvysbNQUJqqvj0ckFZKPWQ_tjeYng0OsY2ttRQ1p0hruJLxbhxObXQOeYZzX3Vw98fCW_oz67Ho_QWcrOiZ7zfyAmv_3czjjwUhvnq_qQ/w200-h122/TDJ_TechnologyGroupLogo_01_21_2013.jpg" width="200" /></a></div> <span style="font-family: arial; font-size: x-large;">The Ultra Music Festival returned to Miami in March 2022 some 90 days ago. For those unable to attend, a highly anticipated video of the festival was recently released on YouTube. After a moratorium due to the Covid epidemic, disk jockey David Guetta and a host of others returned this year to test the Miami power grid. Guetta opened Miami's Ultra Music Festival with a multi-megawatt display of lasers, sound and excitement. Guetta’s performance (along with other veteran d-jays) wowed an audience who’d endured three years of Covid confinement. The resulting party is a must see (linked video at the bottom of this page). <br /><br />Semicon West concludes this week in San Francisco. As the leading global trade show for semiconductor equipment manufacturers SEMI companies enable the consumer, entertainment and broadcast industries. I noted this phenomenon in a previous music festival blog entry from 2015, <a href="https://thomasdalejay.blogspot.com/2015/12/a-photonic-finish-to-international-year.html">A Photonic Finish to the Year of Light 2015</a>. [1] As you view the 2022 music festival’s video link note the program time line at 3 minutes. With 4K resolution you can see small flashes of light emanating from within the crowd. Closer examination reveals the flashes to be multiple cell phone camera screens echoing light captured from the powerful strobes on the sound stage. I was amazed to note the resolution and sensitivity of imaging technology now available to consumers. Pretty cool. At 51:50 into the show an amazing laser display erupts (curious timing). <br /><br />The Ultra Music Festival is an international event with attendees from all over the world. Traditionally the festival returns to Miami every year in March. The representative audience surrounding the stage is typically replete with flags from many nations. David Guetta is from France and the tricolor is prominently displayed up front. This year our Ukrainian friends are recognized by large near-by buildings highlighted with blue and yellow light. <br /><br />The 2022 Ultra Music Festival signals a return to post Covid normalcy. Viewing the video you’ll note that no one is wearing a Covid mask. In free Florida masks are optional. It’s heartening to once again see thousands of smiling faces having a great time. There were no demonstrations, violence or discouraging distractions, just one big celebration of music and unity the way the world is supposed to be. <br /><br />I hope everyone had a successful week at Semicon West. Welcome home. Prop your feet up and enjoy David Guetta’s Ultra Music Festival performance. For best viewing you’ll need a large 4K display and surround sound headphones good for 20 Hz. I encourage you to sing along. It’s a fun concert. If you search you can find several YouTube links to other artists appearing at the festival.</span><p></p><p><span style="font-family: arial; font-size: x-large;">Be safe everyone. Enjoy the show and have a great weekend!</span></p><p><span style="font-family: arial; font-size: x-large;"><a href="https://www.youtube.com/watch?v=zFIikcWbFRc&list=PLVMW-w8WazD4ff7X0ZOG5iXLi27IJKfhG&index=14" target="_blank">Link to David Guetta at the Ultra Music Festival 2022</a>. [2] (brief foul language comments).</span></p><p><span style="font-family: arial;"><span style="font-size: x-large;">Regards to all,</span></span></p><div><span style="font-family: arial; font-size: x-large;"><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif"><span face=""arial" , "helvetica" , sans-serif" style="font-size: x-large;"> </span><span face=""arial" , "helvetica" , sans-serif" style="font-size: x-large;"><br />Thomas D. Jay</span></span></span><br style="font-size: medium;" /><span face=""arial" , "helvetica" , sans-serif" style="font-size: x-large;">Semiconductor Industry Consultant<br /><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com</a><br /><a href="https://www.tdjtechnologygroup.com/" target="_blank">TDJ Technology Group.com</a><br /><a href="http://www.youtube.com/channel/UC8T5Lc8XntcOTYqgXLJbwig/featured">Thomas D. Jay YouTube Channel</a><br /><br /><a href="https://www.youtube.com/watch?v=vIiqAcGr614"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSWMtKeYNfjOtSoiP7siExh7qOgNlFKiS95eTocjrJHRyvhH8OFJxZftwFImbGmBt45OICDcSOQGcwl9o67XAcmSn0GFmSkCQjjSt3-oA1JaxUdhjfweu5JrIMuF8Mq9-9n738Q5Vv8yU7/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" /></a></span><br style="font-size: medium;" /><br style="font-size: medium;" /><span face=""arial" , "helvetica" , sans-serif" style="font-size: x-large;">Corporate, private entities or publications referenced or linked in this article are the respective owners of their logos, trademarks, service marks, media content and intellectual property. Unless otherwise disclosed, Thomas D. Jay has no financial interest in companies referenced in blog articles or other published media communications. Thomas D. Jay is not a registered financial advisor. No representation is made to either buy or sell securities. Opinions expressed by Thomas D. Jay are his own. Thomas D. Jay does not employ or otherwise utilize/authorize third party agents to express his opinions, represent his interests or conduct business on his behalf except where formally contractually designated. </span><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif"> Thomas D. Jay opts out of requests to share personal information or unidentifiable user data.</span></span><span face=""arial" , "helvetica" , sans-serif" style="font-size: x-large;"> Thomas D. Jay does not agree to indemnify or hold harmless vendors, clients or third parties to related contractual agreements and reserves the right to applicable legal remedies in lieu of arbitration<span face=""arial" , "helvetica" , sans-serif">. </span></span><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif">Thomas D. Jay retains all copyright and moral rights to his published material, content and brand marketing, and shall in no case be represented, depicted or characterized by parties/entities other than his published "About Thomas D. Jay" descriptor. Contractual agreements are to be written and interpreted in the English language and are subject to the laws of the United States. These terms and conditions shall supersede any conflicting agreement. Clients, vendors and concerned parties should check my blog site at <a href="http://www.thomasdalejay.blogspot.com/">www.thomasdalejay.blogspot.com</a> for periodic updates or changes to theses terms.</span></span><br style="font-size: medium;" /><br style="font-size: medium;" /><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif"></span></span><b style="font-size: medium;"><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif">References and acknowledgements:</span></span></b><br /></span></div><div><span style="font-family: arial; font-size: x-large;"><br style="font-size: medium;" /><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif">[1] Thomas D. Jay, Blog Article</span></span></span></div><p><span style="font-family: arial; font-size: x-large;"></span></p><div><span style="font-family: arial; font-size: x-large;"><a href="https://thomasdalejay.blogspot.com/2015/12/a-photonic-finish-to-international-year.html">A Photonic Finish to the Year of Light 2015</a></span></div><p><span style="font-family: arial; font-size: x-large;">[2] YouTube, David Guetta, UMF TV</span></p><p><span style="font-family: arial; font-size: x-large;"><a href="https://www.youtube.com/watch?v=zFIikcWbFRc&list=PLVMW-w8WazD4ff7X0ZOG5iXLi27IJKfhG&index=14">https://www.youtube.com/watch?v=zFIikcWbFRc&list=PLVMW-w8WazD4ff7X0ZOG5iXLi27IJKfhG&index=14</a></span></p><p><span style="font-family: arial; font-size: x-large;"><br /><br /><br /> <br /></span><br /></p>Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-33342107958187436802022-05-20T08:39:00.000-04:002022-05-20T08:39:31.449-04:00It's Time for the Next Step in EUV Evolution<p><br /></p><span style="font-family: arial; font-size: x-large;"><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgnduMwwXrHxGtAPNEW6cx9s7s823EVwfPfLPKZJSLT1S80yEM91zXU_Vml_W03xntcXOLpQ5HWEI5UiUR_JIyWngX7uG9Gs1P3wBKYIDWe_ATASb-hJNptf9JOdTcxPBFfZBJq8DTcxqvINvGFmzHjQVQdfgFfJErENaEskA9pV8gp9GJrxImImLuhLA/s1303/TDJ_TechnologyGroupLogo_01_21_2013.jpg" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="797" data-original-width="1303" height="122" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgnduMwwXrHxGtAPNEW6cx9s7s823EVwfPfLPKZJSLT1S80yEM91zXU_Vml_W03xntcXOLpQ5HWEI5UiUR_JIyWngX7uG9Gs1P3wBKYIDWe_ATASb-hJNptf9JOdTcxPBFfZBJq8DTcxqvINvGFmzHjQVQdfgFfJErENaEskA9pV8gp9GJrxImImLuhLA/w200-h122/TDJ_TechnologyGroupLogo_01_21_2013.jpg" width="200" /></a></div>ASML plans to introduce a new generation of EUV lithography systems with High-NA (high numeric aperture) capabilities. The new system design will enhance resolution but will require higher EUV power levels. Higher power levels might be achieved with current LPP (Laser Produced Plasma) source technology but further power scaling might be problematic. As nanometer scale geometries shrink further, existing complications from tin and hydrogen contamination will become more acute. Price estimates on new High-NA systems are estimated at $400-500 Million. Given the price premium, now might be an excellent time to upgrade EUV system performance with FEL (Free Electron Laser) source technology. FEL source technology could provide required power and uptime levels while eliminating tin and hydrogen contamination.</div><br /><div style="text-align: center;"><b>Free Electron Laser Fundamentals</b></div><br />Imagine that we might adjust and control a laser's wavelength using a concept similar to a radio's Variable Frequency Oscillator but with a different set of physics. By electronically tuning a laser's wavelength, we can produce EUV illumination while eliminating the need for specialized crystalline, gaseous or other lazing materials (such as tin currently used in EUV systems) and operate outside the spectral wavelength segments they are physically limited to. FEL technology can produce tunable wavelengths of light throughout the microwave, visible spectrum and x-ray regime. <a href="https://www.blogger.com/blog/post/edit/2848778404572657227/8916421064690686940#">A free electron laser</a> [1] is comprised of a large beamline/electron source which accelerates electrons to near the speed of light. On opposite sides of the electron beam line are interposed field coils of opposing polarity called undulators or "wigglers", which when energized establish a transverse sinusoidal field across the beam path. Electrons accelerated into the transverse field produce incoherent photons in a mixed assortment of sinusoidal wavelengths sometimes referred to as “bunches”, emitting photons at wavelengths determined by their acceleration and the transverse field strength (synchrotron radiation). By adjusting the electron beam energy or the magnetic field strength of the undulators, the wavelength of the emitted photons can be tuned selectively to produce coherent light. Variations on this concept have evolved as follows: <br /><br /><div style="text-align: center;"><b>A Tunable SASE FEL</b></div><br /> A SASE FEL is able to produce laser light over a broad range of spectrum without the requirement for conventional lazing materials such as ruby crystal or argon fluoride etc. In a tunable SASE (Self Amplified Spontaneous Emission) FEL, high energy source electrons passing through an undulator can produce an assortment of incoherent photons (initially at randomly different wavelengths) which become bunched in the transverse sine wave and interact via constructive or destructive interference, producing incidental derivative wavelengths (spontaneous emission). That is to say the bunched photons add and subtract their wavelength values from one another producing new sum/difference valued photons at the mathematically resulting wavelengths. When tuned to a specific wavelength of interest by adjusting the electron beam energy or the magnetic field strength of the undulators, such subsequently produced photons arrive in phase (at the same wavelength) and cumulatively intensify to release high energy coherent laser light (self amplification). While a very useful concept for a variety of applications, the spontaneous emission in a SASE FEL can propagate statistical artifacts resulting from the inherent mathematical sum/difference phenomenon, and consequently can produce a beam exhibiting limited shot to shot reproducibility. As such, the utility of a SASE FEL might be limited in applications which require extremely accurate dosimetry. The limited shot to shot reproducibility might also contribute to the dosimetry phenomenon known as “shot noise”. <br /><br /><div style="text-align: center;"><b>A Tunable HGHG FEL</b></div><br /> FEL performance can be modified and improved by utilizing an external seed laser as a source wavelength. The seed laser is a conventional laser utilizing a material such as ruby crystal (one example) to produce a monochromatic feed source of photons. In an HGHG (High Gain Harmonic Generation) FEL, the seed laser interacts with the electron beam as it propagates through the first undulator (called a modulator), tuned to the seed laser's wavelength. The resulting interaction with the seed laser induces coherent modulation of the electron beam energy, creating photon bunching as well as consequential harmonic propagation (photons which are the mathematical multiples of the seed laser's wavelength). The micro-bunched beam of photons are then injected into a long undulator tuned to the desired harmonic wavelength. The desired wavelength comprised of harmonically produced photons arrive in phase and cumulatively intensify to release high energy coherent light at the newer, shorter wavelength of interest. The high purity monochromatic spectra of an HGHG seed laser improves the system's shot to shot repeatability as its mode of operation does not incur the statistical deviation phenomena found in spontaneous emission spectra typically observed in a SASE FEL. As such, an HGHG FEL might be more advantageous for use in EUV applications requiring highly precise dosimetry, possibly reducing shot noise phenomenon. <br /><br /><div style="text-align: center;"><b>The EUV Source Challenge Ahead</b></div><br />Large scale projects are underway to build FEL systems to accommodate a wide range of wavelengths and scientific applications. FEL is next generation laser technology and perhaps the best candidate to replace current LPP/EUV source designs. As ASML pursues High-NA system designs, higher EUV source power might be met with FEL source technology. The replacement of LPP (Laser Produced Plasma) could eliminate the process concerns with tin contamination, reactive hydrogen plasma and increase system uptime. Progress is being made on FEL designs for a wide range of applications. <a href="https://thomasdalejay.blogspot.com/2016/06/future-euvfel-strategy-beam-line.html" target="_blank">It’s time for the next step in EUV evolution.</a> [2]</span><div><span style="font-family: arial; font-size: x-large;"><br /></span></div><div><span style="font-family: arial; font-size: x-large;"><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif"><span face=""arial" , "helvetica" , sans-serif" style="font-size: x-large;">Regards to all,</span></span></span><br style="font-size: medium;" /><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif"><span face=""arial" , "helvetica" , sans-serif" style="font-size: x-large;"> </span><span face=""arial" , "helvetica" , sans-serif" style="font-size: x-large;"><br />Thomas D. Jay</span></span></span><br style="font-size: medium;" /><span face=""arial" , "helvetica" , sans-serif" style="font-size: x-large;">Semiconductor Industry Consultant<br /><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com</a><br /><a href="https://www.tdjtechnologygroup.com/" target="_blank">TDJ Technology Group.com</a><br /><a href="http://www.youtube.com/channel/UC8T5Lc8XntcOTYqgXLJbwig/featured">Thomas D. Jay YouTube Channel</a><br /><br /><a href="https://www.youtube.com/watch?v=vIiqAcGr614"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSWMtKeYNfjOtSoiP7siExh7qOgNlFKiS95eTocjrJHRyvhH8OFJxZftwFImbGmBt45OICDcSOQGcwl9o67XAcmSn0GFmSkCQjjSt3-oA1JaxUdhjfweu5JrIMuF8Mq9-9n738Q5Vv8yU7/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" /></a></span><br style="font-size: medium;" /><br style="font-size: medium;" /><span face=""arial" , "helvetica" , sans-serif" style="font-size: x-large;">Corporate, private entities or publications referenced or linked in this article are the respective owners of their logos, trademarks, service marks, media content and intellectual property. Unless otherwise disclosed, Thomas D. Jay has no financial interest in companies referenced in blog articles or other published media communications. Thomas D. Jay is not a registered financial advisor. No representation is made to either buy or sell securities. Opinions expressed by Thomas D. Jay are his own. Thomas D. Jay does not employ or otherwise utilize/authorize third party agents to express his opinions, represent his interests or conduct business on his behalf except where formally contractually designated. </span><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif"> Thomas D. Jay opts out of requests to share personal information or unidentifiable user data.</span></span><span face=""arial" , "helvetica" , sans-serif" style="font-size: x-large;"> Thomas D. Jay does not agree to indemnify or hold harmless vendors, clients or third parties to related contractual agreements and reserves the right to applicable legal remedies in lieu of arbitration<span face=""arial" , "helvetica" , sans-serif">. </span></span><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif">Thomas D. Jay retains all copyright and moral rights to his published material, content and brand marketing, and shall in no case be represented, depicted or characterized by parties/entities other than his published "About Thomas D. Jay" descriptor. Contractual agreements are to be written and interpreted in the English language and are subject to the laws of the United States. These terms and conditions shall supersede any conflicting agreement. Clients, vendors and concerned parties should check my blog site at <a href="http://www.thomasdalejay.blogspot.com/">www.thomasdalejay.blogspot.com</a> for periodic updates or changes to theses terms.</span></span><br style="font-size: medium;" /><br style="font-size: medium;" /><br style="font-size: medium;" /><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif"></span></span><b style="font-size: medium;"><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif">References and acknowledgements:</span></span></b><br style="font-size: medium;" /><br style="font-size: medium;" /><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif">[1] Wikipedia</span></span></span></div><div><span style="font-family: arial; font-size: x-large;"><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif"><a href="https://en.wikipedia.org/wiki/Free-electron_laser" target="_blank">https://en.wikipedia.org/wiki/Free-electron_laser . </a></span></span><br style="font-size: medium;" /><br style="font-size: medium;" /><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif">[2] Thomas D. Jay, Blog Article</span></span></span></div><div><span style="font-family: arial; font-size: x-large;"><span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif"><a href="https://thomasdalejay.blogspot.com/2016/06/future-euvfel-strategy-beam-line.html">https://thomasdalejay.blogspot.com/2016/06/future-euvfel-strategy-beam-line.html</a></span></span><br style="font-size: medium;" /><span style="font-family: "Times New Roman"; font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif"></span></span><br style="font-family: "Times New Roman"; font-size: medium;" /></span></div>Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-7981769150144026062020-04-05T10:08:00.000-04:002020-04-06T14:52:33.416-04:00Social Isolation at the Speed of Light - Ham Radio Operators Undeterred During Spring Contests<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF8KTOwBuW_qiHlPReAtB2UENNQbR5xm1VSGaarJlawEel2m9pwYVGzsNsJNKZyt5auBanm_iKnUUn2BHILlgBM3ePTSTniM_NxrSiyRNWe9qd4ZXyg1vSSP2R98hno_MaBQ2nmJtGtxbg/s1600/TDJ_TechnologyGroupLogo_01_21_2013.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="797" data-original-width="1303" height="121" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF8KTOwBuW_qiHlPReAtB2UENNQbR5xm1VSGaarJlawEel2m9pwYVGzsNsJNKZyt5auBanm_iKnUUn2BHILlgBM3ePTSTniM_NxrSiyRNWe9qd4ZXyg1vSSP2R98hno_MaBQ2nmJtGtxbg/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" width="200" /></a></div>
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">After weeks of news media frenzy on the Covid-19 epidemic we’re all weary of the social isolation imposed on friends and families. Many stay connected via television, and social media but another social network remains unseen to most. Amateur radio operators (known colloquially as ham operators) populate their FCC licensed radio spectrum sandwiched between commercial radio and TV channels. There are over 730,000 federally licensed hams in the US, with several million internationally. In spite of Covid-19, the global ham radio community remains actively social, communicating long distance wirelessly. </span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">By day I’m an investor, writer and technology consultant. After hours the large computer screen on my desk becomes an SDR display for my amateur radio station (SDR is Software Defined Radio). Last night I tuned in to monitor several ham radio contest events. The month of April features many Spring season “QSO parties”. A QSO party is a contest in which hams make radio contact with as many other stations as possible in a predetermined time period (usually a day or two). <a href="https://www.contestcalendar.com/index.html">WA7BNM (Bruce Horn) publishes a comprehensive list of ham radio contest schedules with eight events scheduled this April.</a> [1] Thanks Bruce for a great resource. </span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">As a hobby, amateur radio has evolved to a new level of sophistication. SDR is Software Defined Radio. Recent adaption of FPGAs (Field Programmable Gate Arrays, a specialized ASIC device technology, (Application Specific Integrated Circuits) found in communications electronics now provide a graphic view of the RF spectrum and its radio signal inhabitants. Utilizing “direct RF (Radio Frequency) sampling” techniques, ASIC technology extracts a radio’s received spectral data and displays it on a computer screen much as an integer number line, or in this case a spectral line extending above and below the zero point frequency (with zero referencing the radio’s tuning dial pointer). SDR graphic displays have revealed that as ham radio operators, we also comprise a real life “Matrix”. Hams populating their FCC allocated radio spectrum can be seen as individual signal traces along the spectral line. The signal traces scroll over time on a “water fall” display leaving after image “foot prints” behind. <a href="https://youtu.be/fMkHVz23lkw" target="_blank">Run the embedded YouTube video I’ve prepared and you can see the spectral display I’ve described (approx 2 minutes run time).</a> [2] The signals you can hear are captured by the tuner centered on the spectral display. Switching display modes can also provide an oscilloscope view of the signal’s audio envelope. In the past, radio receiver display technology was little more than a box with an inscribed tuning dial. SDR technology was first seen in military applications but now enabling ASIC device technology is also utilized in many automotive and consumer products. The display images in my video were taken from my Icom IC-7610 transceiver. Icom’s first SDR radio the IC-7300 features an Altera EP4CE55F23I7N Cyclone IV E running at 200MHz) which facilitates simultaneous audio processing and graphic display of this information. Advanced specifications aside, SDR has helped enhance the “social” aspect of our hobby. At a glance hams can “see” live radio spectrum to quickly identify lone signals or clustered contest/network activity. Tuning the radio is simplified. Point at a signal trace on the graphic display and a mouse click will tune there instantly, minimal dial tweaking necessary.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Ham radio contest enthusiasts empowered by SDR have infused the community with new interest. Many of these social contest events feature highly coveted award certificates. A few examples are: The DX Century Club award, (DX meaning distance) is presented to operators confirming contact with one hundred international stations. Similarly there’s a Worked All Countries award, Worked All States award and Worked All Counties Award (challenging as you must confirm radio contact with hams populating every state county in the US). </span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">In spite of the Covid-19 epidemic amateur radio remains a vibrant, socially active hobby connecting hams globally. In times of emergency, natural disasters, or communications outages, hams provide a volunteer base of highly skilled communications operators with global reach. Although there’s been no call for ham radio communications during the current Covid-19 epidemic, a valuable volunteer resource stands ready. In the interim, social distancing at light speed is great fun. Dropping out of warp now. See you on the web.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">For additional background on SDR technology see my March 2017 article <a href="https://thomasdalejay.blogspot.com/2017/03/new-trends-in-field-programmable-gate.html">“New Trends in The Field Programmable Gate Array Market - Software Defined Radio”. </a> [3]</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">For additional information on Amateur Radio see the <a href="http://arrl.org/">American Radio Relay League</a> web site. [4] </span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Stay safe out there. <span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"> </span></span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Regards to all,</span></span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br />Thomas D. Jay</span></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Semiconductor Industry Consultant<br /><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com</a><br /><a href="https://thomasdalejay.blogspot.com/" target="_blank">ThomasDaleJay.blogspot.com</a><br /><a href="http://www.youtube.com/channel/UC8T5Lc8XntcOTYqgXLJbwig/featured">Thomas D. Jay YouTube Channel</a><br /><br /><a href="https://www.youtube.com/watch?v=vIiqAcGr614"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSWMtKeYNfjOtSoiP7siExh7qOgNlFKiS95eTocjrJHRyvhH8OFJxZftwFImbGmBt45OICDcSOQGcwl9o67XAcmSn0GFmSkCQjjSt3-oA1JaxUdhjfweu5JrIMuF8Mq9-9n738Q5Vv8yU7/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" /></a></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Corporate,
private entities or publications referenced or linked in this article
are the respective owners of their logos, trademarks, service marks,
media content and intellectual property. Unless otherwise disclosed,
Thomas D. Jay has no financial interest in companies referenced in blog
articles or other published media communications. Thomas D. Jay is not a
registered financial advisor. No representation is made to either buy
or sell securities. Opinions expressed by Thomas D. Jay are his own.
Thomas D. Jay does not employ or otherwise utilize/authorize third party
agents to express his opinions, represent his interests or conduct
business on his behalf except where formally contractually designated. </span><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> Thomas D. Jay opts out of requests to share personal information or unidentifiable user data.</span></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">
Thomas D. Jay does not agree to indemnify or hold harmless vendors,
clients or third parties to related contractual agreements and reserves
the right to applicable legal remedies in lieu of arbitration<span style="font-family: "arial" , "helvetica" , sans-serif;">. </span></span><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Thomas D. Jay retains all copyright and moral rights to his published
material, content and brand marketing, and shall in no case be
represented, depicted or characterized by parties/entities other than
his published "About Thomas D. Jay" descriptor. Contractual agreements
are to be written and interpreted in the English language and are
subject to the laws of the United States. These terms and conditions
shall supersede any conflicting agreement. Clients, vendors and
concerned parties should check my blog site at <a href="http://www.thomasdalejay.blogspot.com/">www.thomasdalejay.blogspot.com</a> for periodic updates or changes to theses terms.</span></span><br />
<br />
<br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"></span></span><b><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">References and acknowledgements:</span></span></b><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">[1] WA7BNM, Bruce Horn web site. </span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="https://www.contestcalendar.com/index.html">https://www.contestcalendar.com/index.html </a> </span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">[2] Thomas D. Jay, YouTube Channel Video </span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="https://youtu.be/fMkHVz23lkw">https://youtu.be/fMkHVz23lkw</a></span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></span> <span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">[3] Thomas D. Jay, Blog article, New Trends in Field Programmable Gate Arrays</span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="https://thomasdalejay.blogspot.com/2017/03/new-trends-in-field-programmable-gate.html">https://thomasdalejay.blogspot.com/2017/03/new-trends-in-field-programmable-gate.html</a> </span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">[4] American Radio Relay League web site</span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="http://arrl.org/">arrl.org</a></span></span><br />
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Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-20190197577974447942020-03-27T18:22:00.000-04:002020-03-30T14:23:17.393-04:00A Work at Home Update<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF8KTOwBuW_qiHlPReAtB2UENNQbR5xm1VSGaarJlawEel2m9pwYVGzsNsJNKZyt5auBanm_iKnUUn2BHILlgBM3ePTSTniM_NxrSiyRNWe9qd4ZXyg1vSSP2R98hno_MaBQ2nmJtGtxbg/s1600/TDJ_TechnologyGroupLogo_01_21_2013.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="797" data-original-width="1303" height="121" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF8KTOwBuW_qiHlPReAtB2UENNQbR5xm1VSGaarJlawEel2m9pwYVGzsNsJNKZyt5auBanm_iKnUUn2BHILlgBM3ePTSTniM_NxrSiyRNWe9qd4ZXyg1vSSP2R98hno_MaBQ2nmJtGtxbg/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" width="200" /></a></div>
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="https://www.youtube.com/watch?v=XxI9lBae90Y" target="_blank">My work at home video greeting.</a> Like most of you I've been working at home this past week. Working at home is nothing new to me. It's been a routine for many years as I've managed sales and marketing organizations in the semiconductor equipment industry. I've lived in Florida for over ten years now. It's similar to silicon valley as we have palm trees and warm weather year round. We have hurricanes here but no earth quakes. Business wise it can be quite different as the aerospace industry and NASA have been established in Florida for many years. There are a few wafer fabs but nothing like Silicon Valley. On a positive note the cost of living is significantly lower and technology companies are everywhere. There's no state income task and energy is inexpensive. If you're a technologist seeking a new challenge or if you're retired, you should consider Florida for relocation. I moved here years ago after a divorce hoping to start a new family. If you're fortunate enough to have a faithful lady bring her with you. Florida is a great place to raise a family. </span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Be safe everyone. Have a great weekend!</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Regards to all,</span></span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br />Thomas D. Jay</span></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Semiconductor Industry Consultant<br /><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com</a><br /><a href="https://thomasdalejay.blogspot.com/" target="_blank">ThomasDaleJay.blogspot.com</a><br /><a href="http://www.youtube.com/channel/UC8T5Lc8XntcOTYqgXLJbwig/featured">Thomas D. Jay YouTube Channel</a><br /><br /><a href="https://www.youtube.com/watch?v=vIiqAcGr614"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSWMtKeYNfjOtSoiP7siExh7qOgNlFKiS95eTocjrJHRyvhH8OFJxZftwFImbGmBt45OICDcSOQGcwl9o67XAcmSn0GFmSkCQjjSt3-oA1JaxUdhjfweu5JrIMuF8Mq9-9n738Q5Vv8yU7/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" /></a></span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Corporate,
private entities or publications referenced or linked in this article
are the respective owners of their logos, trademarks, service marks,
media content and intellectual property. Unless otherwise disclosed,
Thomas D. Jay has no financial interest in companies referenced in blog
articles or other published media communications. Thomas D. Jay is not a
registered financial advisor. No representation is made to either buy
or sell securities. Opinions expressed by Thomas D. Jay are his own.
Thomas D. Jay does not employ or otherwise utilize/authorize third party
agents to express his opinions, represent his interests or conduct
business on his behalf except where formally contractually designated. </span><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> Thomas D. Jay opts out of requests to share personal information or unidentifiable user data.</span></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">
Thomas D. Jay does not agree to indemnify or hold harmless vendors,
clients or third parties to related contractual agreements and reserves
the right to applicable legal remedies in lieu of arbitration<span style="font-family: "arial" , "helvetica" , sans-serif;">. </span></span><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Thomas D. Jay retains all copyright and moral rights to his published
material, content and brand marketing, and shall in no case be
represented, depicted or characterized by parties/entities other than
his published "About Thomas D. Jay" descriptor. Contractual agreements
are to be written and interpreted in the English language and are
subject to the laws of the United States. These terms and conditions
shall supersede any conflicting agreement. Clients, vendors and
concerned parties should check my blog site at <a href="http://www.thomasdalejay.blogspot.com/">www.thomasdalejay.blogspot.com</a> for periodic updates or changes to theses terms.</span></span><br />
<br />
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<br />Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-89813609324378752202020-03-26T10:45:00.000-04:002020-03-31T13:50:46.984-04:00Using Semiconductor Manufacturing Technique to Combat Covid-19<div style="line-height: 100%; margin-bottom: 0in;">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF8KTOwBuW_qiHlPReAtB2UENNQbR5xm1VSGaarJlawEel2m9pwYVGzsNsJNKZyt5auBanm_iKnUUn2BHILlgBM3ePTSTniM_NxrSiyRNWe9qd4ZXyg1vSSP2R98hno_MaBQ2nmJtGtxbg/s1600/TDJ_TechnologyGroupLogo_01_21_2013.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="797" data-original-width="1303" height="121" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF8KTOwBuW_qiHlPReAtB2UENNQbR5xm1VSGaarJlawEel2m9pwYVGzsNsJNKZyt5auBanm_iKnUUn2BHILlgBM3ePTSTniM_NxrSiyRNWe9qd4ZXyg1vSSP2R98hno_MaBQ2nmJtGtxbg/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" width="200" /></a></div>
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Containing the Covid-19 virus has been an unexpected challenge. Many business and retail stores are closing or reducing hours in an attempt to halt the spread of the illness. In particular, local restaurants and fast food chains are grappling with losses. The food service industry is particularly vulnerable to Covid-19 as the virus can be easily propagated during food preparation and service/delivery to customers. Given this epidemic, we might utilize already established semiconductor industry technique to address and minimize this concern.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Keeping Products Clean and Isolated During Transport</span></span></div>
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Semiconductor manufacturing systems destined for a clean room wafer fab are assembled in a clean environment and specially wrapped prior to shipment. Typically systems are triple wrapped in a protective plastic covers. After arrival and offloading at the wafer fab, the first protective layer is removed and discarded along with any dust contaminants collected during shipping. The system is moved again to a prep and clean area where the second protective layer is removed. Finally after positioning in the wafer fab, the third protective layer is removed from the system. This procedure ensures the maintenance of a clean environment in the wafer fab and the particle integrity of the process tool.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Food Service Product Cleanliness During Transport/Delivery</span></span></div>
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Most consumer products are commonly wrapped or otherwise packaged in containers of some sort. In combating the Covid-19 virus, the concept of triple wrapping might be transferred to the food service industry. Bulk lot food transport and fast food delivery to customers could benefit from this concept. Food products would remain isolated/protected during transport with the final protective layer removed by the customer. Similarly this concept can be implemented for pharmaceuticals, medications and other consumer products. </span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"></span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Multi-layer plastic packaging might also address other concerns. The shelf life for consumer products in plastic packaging varies. The plastic bottles used for water and soft drink packaging provide an approximate one year shelf life. Tested with a helium mass spectrometer most plastics have an equivalent air leak rate approximating 1x10-6 standard cc/sec. (about one year). To be safe I dispose of bottled drinks with packaging dates exceeding one year. Plastic bottles wrapped in plastic might provide another layer of protection against exposure to hazardous materials. Reuse of the very thin plastic bags we encounter in retail and grocery stores should be avoided. Get a new one.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Larger Scale Decontamination/Clean Room Procedures</span></span></div>
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">The semiconductor industry is unique in that computer chips are manufactured in an ultra- clean environment. A single microscopic speck of dust can contaminate and ruin a microprocessor or memory chip. To ensure the wafer fab (the computer chip factory) remains ultra clean, workers in the fab are dressed in hooded clean room suits. Covered head to toe, protective face masks and gloves also prevent dust particles from reaching process tools and product devices. Entering a wafer fab approximates the decontamination procedure seen in the movie “The Andromeda Strain”. After donning a clean room suit (a bunny suit) workers enter a secure, enclosed load locked entrance. After the entrance door locks behind them, bunny suited workers are particle decontaminated with a cluster of filtered high pressure air jets (an air shower) which spray them to remove clinging dust particles and debris. During this process workers rotate themselves in the air shower to expose all of their suited surface area for effective cleaning while a particle counter in the load lock measures the dust particle count per cubic foot. When the particle count is acceptable, workers can enter the wafer fab through the load lock exit door. If the particle spec is not met you can’t get in. The entrance to the fab remains locked, and the air shower cycle repeats until the particle count is acceptable. Only then will the fab entrance open. If this seems a bit extreme take heart in the knowledge that the isolation imposed by the bunny suit is offset by the thought of air showering with a friend. </span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">A similar clean room protocol might be utilized for food service/other industries if the public health threat of viral contamination persists. Although viral organisms are very small (some of them only angstroms in size) conventional clean room procedures can greatly reduce their propagation by using effective isolation and packaging techniques during manufacturing and transport.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Kudos to Intel Corporation for donating clean room suits during the current Covid-19 epidemic. It might be possible to adapt other semiconductor resources and technique in the fight against the current epidemic.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Be safe everyone. See my video update below.</span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></span>
<a href="https://www.youtube.com/watch?v=XxI9lBae90Y"><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">https://www.youtube.com/watch?v=XxI9lBae90Y</span></span></a><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Regards to all,</span></span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br />Thomas D. Jay</span></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Semiconductor Industry Consultant<br /><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com</a><br /><a href="https://thomasdalejay.blogspot.com/" target="_blank">ThomasDaleJay.blogspot.com</a><br /><a href="http://www.youtube.com/channel/UC8T5Lc8XntcOTYqgXLJbwig/featured">Thomas D. Jay YouTube Channel</a><br /><br /><a href="https://www.youtube.com/watch?v=vIiqAcGr614"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSWMtKeYNfjOtSoiP7siExh7qOgNlFKiS95eTocjrJHRyvhH8OFJxZftwFImbGmBt45OICDcSOQGcwl9o67XAcmSn0GFmSkCQjjSt3-oA1JaxUdhjfweu5JrIMuF8Mq9-9n738Q5Vv8yU7/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" /></a></span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Corporate,
private entities or publications referenced or linked in this article
are the respective owners of their logos, trademarks, service marks,
media content and intellectual property. Unless otherwise disclosed,
Thomas D. Jay has no financial interest in companies referenced in blog
articles or other published media communications. Thomas D. Jay is not a
registered financial advisor. No representation is made to either buy
or sell securities. Opinions expressed by Thomas D. Jay are his own.
Thomas D. Jay does not employ or otherwise utilize/authorize third party
agents to express his opinions, represent his interests or conduct
business on his behalf except where formally contractually designated. </span><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> Thomas D. Jay opts out of requests to share personal information or unidentifiable user data.</span></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">
Thomas D. Jay does not agree to indemnify or hold harmless vendors,
clients or third parties to related contractual agreements and reserves
the right to applicable legal remedies in lieu of arbitration<span style="font-family: "arial" , "helvetica" , sans-serif;">. </span></span><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Thomas D. Jay retains all copyright and moral rights to his published
material, content and brand marketing, and shall in no case be
represented, depicted or characterized by parties/entities other than
his published "About Thomas D. Jay" descriptor. Contractual agreements
are to be written and interpreted in the English language and are
subject to the laws of the United States. These terms and conditions
shall supersede any conflicting agreement. Clients, vendors and
concerned parties should check my blog site at <a href="http://www.thomasdalejay.blogspot.com/">www.thomasdalejay.blogspot.com</a> for periodic updates or changes to theses terms.</span></span><br />
<br />
<b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Disclosure: </span></b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">I currently own shares of Intel.</span><b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"> </span></b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">I purchased these shares prior to the Covid-19 epidemic and am invested for the long term. </span><br />
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<br />Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-62322375172523440212020-03-23T12:11:00.000-04:002020-03-27T08:05:10.733-04:00During the 1990 Persian Gulf War Kuwait Existed on the Web - We can Work at Home<div align="left">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF8KTOwBuW_qiHlPReAtB2UENNQbR5xm1VSGaarJlawEel2m9pwYVGzsNsJNKZyt5auBanm_iKnUUn2BHILlgBM3ePTSTniM_NxrSiyRNWe9qd4ZXyg1vSSP2R98hno_MaBQ2nmJtGtxbg/s1600/TDJ_TechnologyGroupLogo_01_21_2013.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="797" data-original-width="1303" height="121" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF8KTOwBuW_qiHlPReAtB2UENNQbR5xm1VSGaarJlawEel2m9pwYVGzsNsJNKZyt5auBanm_iKnUUn2BHILlgBM3ePTSTniM_NxrSiyRNWe9qd4ZXyg1vSSP2R98hno_MaBQ2nmJtGtxbg/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" width="200" /></a></div>
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"></span></span><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">This morning the New York Stock Exchange and NASDAQ opened electronically for the first time with a minimal complement of personnel on the floor. Traders are working remotely, and it appears that some of CNBC’s broadcast personalities are operating in isolation mode. I trade from home and am tracking market activity as I type this blog post. This is nothing new for me, I’ve worked remotely for many years. For many the concept requires some adjustment.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Also this morning the Federal Reserve announced it would purchase treasuries, and mortgage backed securities in the amount needed to sustain the economy. While this unprecedented injection of liquidity is welcome news, many business leaders remain tasked with ensuring efficient operations and logistics with a remote work force. While a remote work force can be effective acrossed many business platforms there is no substitute for brick and mortar infrastructure producing and delivering critical tangible product. The challenge is daunting but can be manageable. This morning on CNBC business news, Ken Langone [1], founder of Home Depot announced that competitor, Lowe’s had made its critical inventory available to Home Depot for distribution. It is this spirit of cooperation that must be replicated among our industrial base if we are to succeed in an unprecedented global crisis. Thank you Mr. Langone for your inspiring example and a rousing pep talk.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">As my blog title suggests, we might look to Kuwait’s excellent example of how to manage an economy while providing for its citizens remotely. During the first Persian gulf conflict there was an exodus of Kuwait's displaced population to London, Europe and the United States. Perhaps historically, the Kuwaitis took their country with them. With electronic access to their country's wealth and the international banking system, Kuwait continued to function as a country and business entity in the cloud. For the first time in the world's history a nation existed and functioned electronically in hyperspace, untethered from its physical geography. Kuwait's political existence extended to its world wide connectivity with banking institutions, embassies and the United Nations. Similarly, Kuwait's finances and trading activities were all remotely accessible through the stock exchanges and SWIFT computers connecting the international banking system. Many of Kuwait's displaced citizens abroad established temporary residency in Europe and the U.S. aided by the continued financial support of their Kingdom which was fully functional on the web. This impressive logistical feat was managed remotely from London hotel suites and conference rooms with laptop computers and direct access to major financial institutions outside the middle east. See the link to an archived New York Times story [2]: <a href="http://www.nytimes.com/1990/09/12/business/kuwaiti-bank-serves-an-economy-in-exile.html">http://www.nytimes.com/1990/09/12/business/kuwaiti-bank-serves-an-economy-in-exile.html</a></span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Given today’s environment, the Kuwaiti example also underscores the strategic </span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">necessity of implementing a secure 5G network in the United States. Equally import are the trusted foundries (DOD certified computer chip manufacturers) required to produce secure, highly reliable and radiation hardened 5G components. The Covid-19 crisis illustrates the need for our maintenance of a US based infrastructure.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">For additional background on our global connectivity you can link to my November 2013 article, <a href="https://thomasdalejay.blogspot.com/2013/11/the-cloud-of-nations.html">The Cloud of Nations</a>.[3]</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">Be safe everyone.</span></span><br />
<br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Regards to all,</span></span></span><br />
<br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Thomas D. Jay</span></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Semiconductor Industry Consultant<br /><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com</a><br /><a href="https://thomasdalejay.blogspot.com/" target="_blank">ThomasDaleJay.blogspot.com</a><br /><a href="http://www.youtube.com/channel/UC8T5Lc8XntcOTYqgXLJbwig/featured">Thomas D. Jay YouTube Channel</a><br /><br /><a href="https://www.youtube.com/watch?v=vIiqAcGr614"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSWMtKeYNfjOtSoiP7siExh7qOgNlFKiS95eTocjrJHRyvhH8OFJxZftwFImbGmBt45OICDcSOQGcwl9o67XAcmSn0GFmSkCQjjSt3-oA1JaxUdhjfweu5JrIMuF8Mq9-9n738Q5Vv8yU7/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" /></a></span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Corporate,
private entities or publications referenced or linked in this article
are the respective owners of their logos, trademarks, service marks,
media content and intellectual property. Unless otherwise disclosed,
Thomas D. Jay has no financial interest in companies referenced in blog
articles or other published media communications. Thomas D. Jay is not a
registered financial advisor. No representation is made to either buy
or sell securities. Opinions expressed by Thomas D. Jay are his own.
Thomas D. Jay does not employ or otherwise utilize/authorize third party
agents to express his opinions, represent his interests or conduct
business on his behalf except where formally contractually designated.</span><span style="font-size: x-large;"><span style="font-family: Arial, Helvetica, sans-serif;"> Thomas D. Jay opts out of requests to share personal information or unidentifiable user data. </span></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"> Thomas D. Jay does not agree to indemnify or hold harmless vendors,
clients or third parties to related contractual agreements and reserves
the right to applicable legal remedies in lieu of arbitration<span style="font-family: "arial" , "helvetica" , sans-serif;">. </span></span><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Thomas D. Jay retains all copyright and moral rights to his published
material, content and brand marketing, and shall in no case be
represented, depicted or characterized by parties/entities other than
his published "About Thomas D. Jay" descriptor. Contractual agreements
are to be written and interpreted in the English language and are
subject to the laws of the United States. These terms and conditions
shall supersede any conflicting agreement. Clients, vendors and
concerned parties should check my blog site at <a href="http://www.thomasdalejay.blogspot.com/">www.thomasdalejay.blogspot.com</a> for periodic updates or changes to theses terms.</span></span><br />
<br />
<b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">References and acknowledgements:</span></b><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">[1] CNBC business news 3/23/2020, guest commentator Ken Langone, Founder/Cofounder Home Depot .</span></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">[2] New York Times Article, Kuwati Bank Serves an Economy in Exile, Stephen Prokesch 9/12/1990</span></span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="http://www.nytimes.com/1990/09/12/business/kuwaiti-bank-serves-an-economy-in-exile.html">http://www.nytimes.com/1990/09/12/business/kuwaiti-bank-serves-an-economy-in-exile.html</a></span></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">[3] Thomas D. Jay, Blog Article, The Cloud of Nations, 11/28/2013</span></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;"><a href="https://thomasdalejay.blogspot.com/2013/11/the-cloud-of-nations.html">https://thomasdalejay.blogspot.com/2013/11/the-cloud-of-nations.html</a></span></span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span></span>Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-49146292176077273492020-03-20T10:22:00.000-04:002020-03-27T08:06:00.569-04:00A Covid-19 Advisory and a Message to Students<div style="line-height: 100%; margin-bottom: 0in;">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF8KTOwBuW_qiHlPReAtB2UENNQbR5xm1VSGaarJlawEel2m9pwYVGzsNsJNKZyt5auBanm_iKnUUn2BHILlgBM3ePTSTniM_NxrSiyRNWe9qd4ZXyg1vSSP2R98hno_MaBQ2nmJtGtxbg/s1600/TDJ_TechnologyGroupLogo_01_21_2013.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="797" data-original-width="1303" height="121" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF8KTOwBuW_qiHlPReAtB2UENNQbR5xm1VSGaarJlawEel2m9pwYVGzsNsJNKZyt5auBanm_iKnUUn2BHILlgBM3ePTSTniM_NxrSiyRNWe9qd4ZXyg1vSSP2R98hno_MaBQ2nmJtGtxbg/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" width="200" /></a></div>
<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">Another day of Corona virus pandemonium (Coronavirus, Covid-19). In spite of the many warnings by medical professionals and government officials it seems the student population has largely ignored advisories to self isolate and halt the spread of the virus. Recently, many television news outlets featured video clips of spring break students assembled on Florida’s beaches. Many of our younger generation are determined to party and object to the thought of social isolation (is there an ISO spec for this?). It might be difficult to criticize students for their spring break enthusiasm the day after (the permitted) election primary in Florida. Students are questioning the double standard of logic imposed by government officials. By now we should recognize the double standard concept can extend beyond political boundaries and propagate a real public health emergency (political viruses aside).</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">By nature, students are social creatures. Colleges and universities are tasked with imparting both knowledge and social skills. The appearance of a pandemic on the scale of Covid-19 could be unprecedented and we might take a different approach in communicating a “party in place” message to the student community.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">As I mentioned in my blog post yesterday, our Korean friends have excelled in their efforts to contain Covid-19. A tour of Military service is compulsory in Korean society. It’s likely that student participation in the Korean Armed Forces has instilled a greater sense of discipline among their youth. This social discipline may be responsible for Koreans’ success in more effectively containing Covid-19. How might we communicate this discipline to our students in the US?</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">A popular music video I found on YouTube might be inadvertently useful in communicating the concept of “party in place” (see the video link below). An industrial site was chosen for the video shoot. While not an optimal party setting, it provides an example of how we might socialize with minimal personal contact. It’s interesting to note that there are less than ten performers in the group. Some are wearing protective face masks, others are not, but all maintain a distance of at least six feet among them. As they move about the factory setting and emerge outdoors the discipline of their spacing and formation is maintained. Note the formation found at video/frame time index 2:27.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;"><a href="https://www.youtube.com/watch?v=BT05GiMlY4g&list=PLVMW-w8WazD4dw2EDmpGbhK-FnFSGnWdB&index=95&t=0s">https://www.youtube.com/watch?v=BT05GiMlY4g&list=PLVMW-w8WazD4dw2EDmpGbhK-FnFSGnWdB&index=95&t=0s</a></span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">While you might be critical of this example, (after all it's not a military drill) it seems to fit the current specification for social gatherings (someone needs to create an ISO/MiSO spec for this). Placing limitations on student gatherings has always been problematic. If you've ever told an American how to party you might be in big trouble. It's our nature. Unnecessary examples: Don't mess with Texas, Don't mess with the US. Our country began with a great party in Boston Harbor. Given the Covid-19 epidemic, there's a real public health threat to consider. Clear the deck, party inside and be safe. </span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">Students: Covid-19 can be life threatening to yourself and others (really). Be responsible and act accordingly.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">I hope you find this blog post useful. Besides, MiSO's has a really cool party video. Be safe everyone. Have a great week end.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">Thanks MiSo. We love you!</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Regards to all,</span></span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br />Thomas D. Jay</span></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Semiconductor Industry Consultant<br /><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com</a><br /><a href="https://thomasdalejay.blogspot.com/" target="_blank">ThomasDaleJay.blogspot.com</a><br /><a href="http://www.youtube.com/channel/UC8T5Lc8XntcOTYqgXLJbwig/featured">Thomas D. Jay YouTube Channel</a><br /><br /><a href="https://www.youtube.com/watch?v=vIiqAcGr614"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSWMtKeYNfjOtSoiP7siExh7qOgNlFKiS95eTocjrJHRyvhH8OFJxZftwFImbGmBt45OICDcSOQGcwl9o67XAcmSn0GFmSkCQjjSt3-oA1JaxUdhjfweu5JrIMuF8Mq9-9n738Q5Vv8yU7/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" /></a></span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Corporate,
private entities or publications referenced or linked in this article
are the respective owners of their logos, trademarks, service marks,
media content and intellectual property. Unless otherwise disclosed,
Thomas D. Jay has no financial interest in companies referenced in blog
articles or other published media communications. Thomas D. Jay is not a
registered financial advisor. No representation is made to either buy
or sell securities. Opinions expressed by Thomas D. Jay are his own.
Thomas D. Jay does not employ or otherwise utilize/authorize third party
agents to express his opinions, represent his interests or conduct
business on his behalf except where formally contractually designated.</span><span style="font-size: x-large;"><span style="font-family: Arial, Helvetica, sans-serif;"> Thomas D. Jay opts out of requests to share personal information or unidentifiable user data. </span></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Thomas D. Jay does not agree to indemnify or hold harmless vendors,
clients or third parties to related contractual agreements and reserves
the right to applicable legal remedies in lieu of arbitration<span style="font-family: "arial" , "helvetica" , sans-serif;">. </span></span><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Thomas D. Jay retains all copyright and moral rights to his published
material, content and brand marketing, and shall in no case be
represented, depicted or characterized by parties/entities other than
his published "About Thomas D. Jay" descriptor. Contractual agreements
are to be written and interpreted in the English language and are
subject to the laws of the United States. These terms and conditions
shall supersede any conflicting agreement. Clients, vendors and
concerned parties should check my blog site at <a href="http://www.thomasdalejay.blogspot.com/">www.thomasdalejay.blogspot.com</a> for periodic updates or changes to theses terms.</span></span><br />
<br />
<b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">References and acknowledgements:</span></b><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">[1] </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">YouTube: MiSO music video. </span><b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"> </span></b><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;"><a href="https://www.youtube.com/watch?v=BT05GiMlY4g&list=PLVMW-w8WazD4dw2EDmpGbhK-FnFSGnWdB&index=95&t=0s">https://www.youtube.com/watch?v=BT05GiMlY4g&list=PLVMW-w8WazD4dw2EDmpGbhK-FnFSGnWdB&index=95&t=0s</a></span></span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;"></span></span>Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-31400979125161061222020-03-19T13:10:00.000-04:002020-03-27T08:07:11.376-04:00In Times of Uncertainty Keep a Positive Attitude<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF8KTOwBuW_qiHlPReAtB2UENNQbR5xm1VSGaarJlawEel2m9pwYVGzsNsJNKZyt5auBanm_iKnUUn2BHILlgBM3ePTSTniM_NxrSiyRNWe9qd4ZXyg1vSSP2R98hno_MaBQ2nmJtGtxbg/s1600/TDJ_TechnologyGroupLogo_01_21_2013.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="797" data-original-width="1303" height="121" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF8KTOwBuW_qiHlPReAtB2UENNQbR5xm1VSGaarJlawEel2m9pwYVGzsNsJNKZyt5auBanm_iKnUUn2BHILlgBM3ePTSTniM_NxrSiyRNWe9qd4ZXyg1vSSP2R98hno_MaBQ2nmJtGtxbg/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" width="200" /></a></div>
<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">If you’ve been monitoring news updates on the Corona virus and our economy you’re aware of the speculation and uncertainty promulgated in the media. Some business news “contributors”, fund managers and trading firms are expressing uncertainty while others encourage us to stand fast and weather the storm.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">Seek Informed Insight </span></span></div>
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">Rather than dwell on conjecture, a calmer voice in the storm was heard today. Ginny Rometti, IBM Chairman and CEO was interviewed on CNBC business news this morning and provided a more optimistic perspective. In spite of current economic volatility, IBM’s employee pension fund remains economically sound and it was reported the corporation is well positioned for the challenges ahead. IBM is also a valuable asset in combating the Corona virus. In addition to Watson’s advanced medical diagnostics, IBM is providing data clearing house resources intended to facilitate the coordination of Corona virus analytics on a global level. IBM is one example. Many corporations contribute to the stability of our economy and are similarly active in the global fight against the Corona virus.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">Keep an Eye on Personal Finance </span></span></div>
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">Financial concerns still abound. Many have recently lost money in the stock market. Before you panic and sell at a loss, consult your financial advisor or broker (I am neither). If your stock’s price has plunged, you might want to hold on and consider purchasing additional shares at a lower price. The new average share price will be much lower. When stock market prices rise again (they do eventually) you’ll be better positioned to recover. Using this technique I’ve reduced the average price of my stock holdings by over $5.00 per share. Consult your financial advisor to discuss tactics you might utilize to mitigate any loss.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">Stay Current on Corona Virus Updates </span></span></div>
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">As I type this post, I’m listening to President Trump on Fox News. President Trump and his team are doing an excellent job of managing a complex economy encumbered by a global health emergency. Stay informed and follow health guidelines provided by medical professionals. What ever your persuasion, put politics aside. Let’s work together to make a better world.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">Speaking globally, our Korean friends seem to be doing better than most in containing the Corona virus. Kudos to team Korea in this difficult time.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">Stay Upbeat </span></span></div>
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">As we all self isolate (sounds ominous) take frequent breaks and keep your spirit up. As I consider the American right to the pursuit of happiness I’m reminded of a popular Korean song (globalism I suppose). I ‘ll leave you with a link to Red Velvet’s “<a href="https://www.youtube.com/watch?v=JFgv8bKfxEs" target="_blank">Happiness</a>” music video.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">Be safe everyone.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Regards to all,</span></span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br />Thomas D. Jay</span></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Semiconductor Industry Consultant<br /><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com</a><br /><a href="https://thomasdalejay.blogspot.com/" target="_blank">ThomasDaleJay.blogspot.com</a><br /><a href="http://www.youtube.com/channel/UC8T5Lc8XntcOTYqgXLJbwig/featured">Thomas D. Jay YouTube Channel</a><br /><br /><a href="https://www.youtube.com/watch?v=vIiqAcGr614"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSWMtKeYNfjOtSoiP7siExh7qOgNlFKiS95eTocjrJHRyvhH8OFJxZftwFImbGmBt45OICDcSOQGcwl9o67XAcmSn0GFmSkCQjjSt3-oA1JaxUdhjfweu5JrIMuF8Mq9-9n738Q5Vv8yU7/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" /></a></span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Corporate,
private entities or publications referenced or linked in this article
are the respective owners of their logos, trademarks, service marks,
media content and intellectual property. Unless otherwise disclosed,
Thomas D. Jay has no financial interest in companies referenced in blog
articles or other published media communications. Thomas D. Jay is not a
registered financial advisor. No representation is made to either buy
or sell securities. Opinions expressed by Thomas D. Jay are his own.
Thomas D. Jay does not employ or otherwise utilize/authorize third party
agents to express his opinions, represent his interests or conduct
business on his behalf except where formally contractually designated.</span><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> Thomas D. Jay opts out of requests to share personal information or unidentifiable user data. </span></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"> Thomas D. Jay does not agree to indemnify or hold harmless vendors,
clients or third parties to related contractual agreements and reserves
the right to applicable legal remedies in lieu of arbitration<span style="font-family: "arial" , "helvetica" , sans-serif;">. </span></span><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Thomas D. Jay retains all copyright and moral rights to his published
material, content and brand marketing, and shall in no case be
represented, depicted or characterized by parties/entities other than
his published "About Thomas D. Jay" descriptor. Contractual agreements
are to be written and interpreted in the English language and are
subject to the laws of the United States. These terms and conditions
shall supersede any conflicting agreement. Clients, vendors and
concerned parties should check my blog site at <a href="http://www.thomasdalejay.blogspot.com/">www.thomasdalejay.blogspot.com</a> for periodic updates or changes to theses terms.</span></span><br />
<br />
<b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">References and acknowledgements:</span></b><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">[1] </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">CNBC business news 3/19/2020, guest commentator Ginny Rometti, Chairman and CEO, IBM.</span></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;"><br /></span></span></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">[2] "Happiness" Red Velvet music video, YouTube <a href="https://www.youtube.com/watch?v=JFgv8bKfxEs">https://www.youtube.com/watch?v=JFgv8bKfxEs</a></span></span></span>Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-26178060422770390222020-03-18T12:23:00.000-04:002020-03-27T08:08:15.923-04:00The Corona Virus and the Work at Home Environment<div style="line-height: 100%; margin-bottom: 0in;">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF8KTOwBuW_qiHlPReAtB2UENNQbR5xm1VSGaarJlawEel2m9pwYVGzsNsJNKZyt5auBanm_iKnUUn2BHILlgBM3ePTSTniM_NxrSiyRNWe9qd4ZXyg1vSSP2R98hno_MaBQ2nmJtGtxbg/s1600/TDJ_TechnologyGroupLogo_01_21_2013.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="797" data-original-width="1303" height="121" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF8KTOwBuW_qiHlPReAtB2UENNQbR5xm1VSGaarJlawEel2m9pwYVGzsNsJNKZyt5auBanm_iKnUUn2BHILlgBM3ePTSTniM_NxrSiyRNWe9qd4ZXyg1vSSP2R98hno_MaBQ2nmJtGtxbg/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" width="200" /></a></div>
<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">In observing recent news media and LinkedIn chatter, reaction to the Corona virus pandemic has been mixed. In the business sector of our economy the severity of of reactions range from calm, measured statements of guidance to varying levels of uncertainty sometimes punctuated in panic. Similarly, reactive response by LinkedIn netizens has ranged across the board. In response to the recent work at home/quarantine mantra I’m most surprised by professionals’ postings expressing reservations/displeasure about working at home. Many broadcast media personalities (and LinkedIn netizens) now appear on camera in informal attire in a home office environment (or in front of a green screen). We might interpret this as adaptive bravado or a genuine attempt to illustrate the realities imposed by work at home isolation. The Corona virus epidemic is real and must be effectively managed. If you are able to work at home make the most of this advantage. Many working in factories or public/retail venues are not as fortunate as they face the possibility/reality of layoffs.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">As a career sales and marketing professional in the semiconductor industry (I’m now semi-retired) I spent much of my work week visiting customers. On the road travel was the norm. With sales responsibility for most of North America I commuted by air on a regular basis. Closer to home I spent many hours in my company car. Office? My brief case, cell phone and laptop were my office most of the week. At home I had a well equipped office from which I managed a multi-million dollar sales territory and several other remote professionals. As a regional team we met on conference calls, customer visits, trade shows and often got in a quick wave as we traversed airports. If you’re a sales and marketing road warrior you’re familiar with this work day norm.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">Working at Home</span></span></div>
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">Many professionals are quite comfortable with a mixed itinerary of travel and a home office/office at home environment. Working from home requires discipline. If the idea of working at home alone is new to you, I’ll provide some friendly but essential advice.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">- I’ll forego the obvious concerns with children, pets and family. Make the best possible arrangements and accommodations.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">- Be properly equipped; phones/fax, computer/video cam etc. Maintain a dedicated a work area if possible, ideally a separate room where a closed door provides privacy and a quite environment. If possible/convenient, forward your office work phone to your home office or cell phone.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">- Rise early and be dressed for the business day. Be prepared to receive visitors (at home) or leave at a moments notice. You might be called to your company’s business office or customer site unexpectedly. If you receive a video call you’ll be camera ready. If you’re dressed for business you’ll feel and be more effective and professional. Wear a neck tie when required (on camera or customer site).</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">- Contract essential services. My company contracted a local travel agent a few miles from my home. When needed the agent could deliver airline tickets/boarding passes to my home within minutes enabling a quick escape to customer sites.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">- Contract an air courier, Fed-X, UPS, or DHL for home pick up service and delivery. Be prepared to send/receive important documents any time.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">- Telephone answering service or answering machine? One of my reps hired a remote telephone receptionist to take messages. The receptionist was a very pleasant lady and seemed very efficient. A few weeks later he canceled the answering service. While she was a gracious voice on the phone, she had difficulty transcribing the highly technical messages left by our customers. When transcripted, terms like molecular beam epitaxy and electron beam lithography became hopelessly garbled. We laughed and agreed an answering machine might be better suited for our communications. Make the choice best suited for your profession.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">- Be proactive. Keep in constant phone contact with your customers. Call to advise them you’re working at home in spite of the Corona virus concern. Assure them of your availability and your company’s services. An advisory phone call to your customer also provides an opportunity to update your sales forecast, shipment schedule or other important information.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">- If it’s after 5:00 PM eastern time, call your customers in the central time zone and work westward until 5:00 PM there (or west to east). I would frequently receive phone calls from the Santa Clara factory after 5:00 PM my time. If the phone rang I answered as I often received important shipment information for my customers. Amusingly, some at the factory would grumble if I called there after 5:00 PM west coast time (8:00 PM my time). Set your own best guidelines on telephone hours. If my customers called I answered 24/7.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">- Lunch and food. I don’t eat breakfast but have one cup of coffee in the morning. Lunch is thirty minutes including prep time. Your lunch menu and habits may vary but don’t be distracted while working. Dinner is after 5:00 PM. With much to do there should be no idle time.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">- I’ll conclude with my commentary on video calls and conferencing. Video calls can be very useful. Example: a hardware customer with a smart phone and Wi-Fi can show you his problem; if process equipment you can see dials, gauges and abnormal mechanical behavior. If a personal call it can be advantageous to better read/assure your customer while negotiating contracts or sales/service issues. Unfortunately many feel uncomfortable on camera (as a TV and radio production student in college I don’t). Many aren’t camera ready and feel self conscious (bad hair day, make up etc.). In addition, with the proliferation of nonsense on the internet many are afraid of being “Skyped”. The definition of the term ”Skyped” varies, some positive some negative or humorous. Resultingly many are uncertain enough that they call using audio only. Unfortunate. After years of Star Trek and the futuristic video calling depicted in movies many are reluctant to communicate via video or the “Skype apparatus”. Be comfortable and professional what ever your choice.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">- Multi-task. As I type this post, I’m listening to CNBC audio. I maintain diversity by also surfing Fox News, Fox Business News, Bloomberg and C-Span. Be informed. They might eliminate the Corona virus and you’ll have to go to the office. </span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">Gotta go and check email/LinkedIn. It’s lunch time!</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">Be safe everyone.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Regards to all,</span></span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br />Thomas D. Jay</span></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Semiconductor Industry Consultant<br /><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com</a><br /><a href="https://thomasdalejay.blogspot.com/">https://ThomasDaleJay.blogspot.com</a><br /><a href="http://www.youtube.com/channel/UC8T5Lc8XntcOTYqgXLJbwig/featured">Thomas D. Jay YouTube Channel</a><br /><br /><a href="https://www.youtube.com/watch?v=vIiqAcGr614"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSWMtKeYNfjOtSoiP7siExh7qOgNlFKiS95eTocjrJHRyvhH8OFJxZftwFImbGmBt45OICDcSOQGcwl9o67XAcmSn0GFmSkCQjjSt3-oA1JaxUdhjfweu5JrIMuF8Mq9-9n738Q5Vv8yU7/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" /></a></span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Corporate,
private entities or publications referenced or linked in this article
are the respective owners of their logos, trademarks, service marks,
media content and intellectual property. Unless otherwise disclosed,
Thomas D. Jay has no financial interest in companies referenced in blog
articles or other published media communications. Thomas D. Jay is not a
registered financial advisor. No representation is made to either buy
or sell securities. Opinions expressed by Thomas D. Jay are his own.
Thomas D. Jay does not employ or otherwise utilize/authorize third party
agents to express his opinions, represent his interests or conduct
business on his behalf except where formally contractually designated.</span><span style="font-size: x-large;"><span style="font-family: Arial, Helvetica, sans-serif;"> Thomas D. Jay opts out of requests to share personal information or unidentifiable user data. </span></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Thomas D. Jay does not agree to indemnify or hold harmless vendors,
clients or third parties to related contractual agreements and reserves
the right to applicable legal remedies in lieu of arbitration<span style="font-family: "arial" , "helvetica" , sans-serif;">. </span></span><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Thomas D. Jay retains all copyright and moral rights to his published
material, content and brand marketing, and shall in no case be
represented, depicted or characterized by parties/entities other than
his published "About Thomas D. Jay" descriptor. Contractual agreements
are to be written and interpreted in the English language and are
subject to the laws of the United States. These terms and conditions
shall supersede any conflicting agreement. Clients, vendors and
concerned parties should check my blog site at <a href="http://www.thomasdalejay.blogspot.com/">www.thomasdalejay.blogspot.com</a> for periodic updates or changes to theses terms.</span></span>Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-19295076151859091782020-03-17T11:39:00.001-04:002020-04-02T06:00:37.466-04:00Will Moore’s Law Accelerate a Cure for the Corona Virus?<div style="line-height: 100%; margin-bottom: 0in;">
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<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF8KTOwBuW_qiHlPReAtB2UENNQbR5xm1VSGaarJlawEel2m9pwYVGzsNsJNKZyt5auBanm_iKnUUn2BHILlgBM3ePTSTniM_NxrSiyRNWe9qd4ZXyg1vSSP2R98hno_MaBQ2nmJtGtxbg/s1600/TDJ_TechnologyGroupLogo_01_21_2013.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="797" data-original-width="1303" height="121" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF8KTOwBuW_qiHlPReAtB2UENNQbR5xm1VSGaarJlawEel2m9pwYVGzsNsJNKZyt5auBanm_iKnUUn2BHILlgBM3ePTSTniM_NxrSiyRNWe9qd4ZXyg1vSSP2R98hno_MaBQ2nmJtGtxbg/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" width="200" /></a></div>
<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">This morning on CNBC business news, guest commentator Thomas L. Friedman, Foreign Affairs Columnist for the New York Times suggested that Moore’s Law might hasten a cure for disease such as the Corona virus. He suggested that advances in medicine aided by computer technology might replicate the phenomenon predicted by Gordon Moore of Intel, that the number of transistors on a computer chip would double every twenty four months. Extending this analogy to medical research Mr. Friedman reasoned that compounding the rate of analytics could similarly empower medical research, hence a more rapid delivery of pharmaceutical response to disease (and possibly the Corona virus).</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">We must thank Mr. Friedman for his recognition of the computer industry and the enabling foundation of semiconductor chip manufacturers. Advanced analytics now proliferate the medical industry thanks to new technology. Powered by next generation semiconductor devices, IBM has tasked their Watson computer platform to provide medical researchers and doctors with more rapid analysis and diagnosis for a wide range of medical maladies. Drawing upon a huge base of medical data, Watson’s accuracy and response time exceeds that of human doctors and researchers saving and extending the lives of many. While Mr. Friedman’s observations are well considered, Moore’s Law is more an abstract in this medical scenario. Given the many advances in computer technology, Vaccines and medications still take significant time to develop. Enabled by advances in molecular biology newly developed medications and vaccines must still undergo testing for effectiveness and undesired side effects. Human testing is required and is time consuming. As applicable technologies evolve further we might some day abbreviate drug/vaccine trial testing or eliminate it all together. We’re not there yet but in the interim we have many tools previously unavailable and some common sense behavior might assist.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">A Mean Free Path to Eliminating the Corona Virus Epidemic</span></span></div>
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<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">While we await the arrival of more advanced and effective medications we can use some common sense physics to slow the spread of the Corona Virus. An atmospheric phenomenon known to scientists and engineers is defined as “mean free path”. In a given atmospheric environment, the mean free path is the average distance between gas molecules. This average distance can change with rapid molecular motion caused by pressure, temperature, gas composition, humidity etc. The mean free path at sea level is such that gas molecules are densely packed and collide frequently; we might compare this to an overcrowded room at a party. In outer space the mean free path can extend to several miles. That is to say a molecule of gas must travel several miles before it randomly collides with another. As humans we function in our dense atmosphere and if not careful can propagate germs and viruses very quickly. While we can’t live in the vacuum of outer space, we can reduce the spread of germs (and the Corona virus) by increasing our personal mean free path. </span></span><br />
<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;"></span></span><br />
<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">President Trump and health professionals have recommended we slow the spread of the Corona virus by avoiding personal contact and maintaining a distance from others. In other words, increase your mean free path. Work at home, party in place, avoid unnecessary travel and contact with others (but don’t be mean about it). For many experienced working from home the concept is not difficult but might require some adjustment in a more crowded home environment. </span></span><br />
<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;"></span></span><br />
<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">Another isolation concept/analogy we might adapt from a wafer fab environment is the reduction in pressure/mean free path by cryo-pumping. In advanced process equipment, cryopumps reduce pressure by freezing and trapping gas molecules on super cold/cryogenic surfaces at liquid nitrogen or liquid helium temperatures. If gas molecules can be trapped and held in place the measured pressure is reduced. Similarly, you can reduce the spread of the Corona virus by chilling out at home. Stay put and eliminate unnecessary contact and travel. Enough physics for today. Be safe everyone.</span></span><br />
<span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;"><br /></span></span>
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Regards to all,</span></span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br />Thomas D. Jay</span></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Semiconductor Industry Consultant<br /><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com</a><br /><a href="https://thomasdalejay.blogspot.com/">https://ThomasDaleJay.blogspot.com</a><br /><a href="http://www.youtube.com/channel/UC8T5Lc8XntcOTYqgXLJbwig/featured">Thomas D. Jay YouTube Channel</a><br /><br /><a href="https://www.youtube.com/watch?v=vIiqAcGr614"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSWMtKeYNfjOtSoiP7siExh7qOgNlFKiS95eTocjrJHRyvhH8OFJxZftwFImbGmBt45OICDcSOQGcwl9o67XAcmSn0GFmSkCQjjSt3-oA1JaxUdhjfweu5JrIMuF8Mq9-9n738Q5Vv8yU7/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" /></a></span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Corporate,
private entities or publications referenced or linked in this article
are the respective owners of their logos, trademarks, service marks,
media content and intellectual property. Unless otherwise disclosed,
Thomas D. Jay has no financial interest in companies referenced in blog
articles or other published media communications. Thomas D. Jay is not a
registered financial advisor. No representation is made to either buy
or sell securities. Opinions expressed by Thomas D. Jay are his own.
Thomas D. Jay does not employ or otherwise utilize/authorize third party
agents to express his opinions, represent his interests or conduct
business on his behalf except where formally contractually designated.</span><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> Thomas D. Jay opts out of requests to share personal information or unidentifiable user data. </span></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"> Thomas D. Jay does not agree to indemnify or hold harmless vendors,
clients or third parties to related contractual agreements and reserves
the right to applicable legal remedies in lieu of arbitration<span style="font-family: "arial" , "helvetica" , sans-serif;">. </span></span><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Thomas D. Jay retains all copyright and moral rights to his published
material, content and brand marketing, and shall in no case be
represented, depicted or characterized by parties/entities other than
his published "About Thomas D. Jay" descriptor. Contractual agreements
are to be written and interpreted in the English language and are
subject to the laws of the United States. These terms and conditions
shall supersede any conflicting agreement. Clients, vendors and
concerned parties should check my blog site at <a href="http://www.thomasdalejay.blogspot.com/">www.thomasdalejay.blogspot.com</a> for periodic updates or changes to theses terms.</span></span><br />
<br />
<b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">References and acknowledgements:</span></b><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">[1] </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><span style="font-size: x-large;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">CNBC business news 3/17/2020, guest commentator Thomas L. Friedman, Foreign Affairs Columnist for the New York Times</span></span></span><br />
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<br />Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-21113017932448683802019-09-05T08:56:00.000-04:002020-03-27T08:11:16.546-04:00The Federal Reserve, Interest Rates and Trade War - What's the Best Response?<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF8KTOwBuW_qiHlPReAtB2UENNQbR5xm1VSGaarJlawEel2m9pwYVGzsNsJNKZyt5auBanm_iKnUUn2BHILlgBM3ePTSTniM_NxrSiyRNWe9qd4ZXyg1vSSP2R98hno_MaBQ2nmJtGtxbg/s1600/TDJ_TechnologyGroupLogo_01_21_2013.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="797" data-original-width="1303" height="121" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF8KTOwBuW_qiHlPReAtB2UENNQbR5xm1VSGaarJlawEel2m9pwYVGzsNsJNKZyt5auBanm_iKnUUn2BHILlgBM3ePTSTniM_NxrSiyRNWe9qd4ZXyg1vSSP2R98hno_MaBQ2nmJtGtxbg/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" width="200" /></a></div>
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">The trade war with China and recent inversion of interest rates for short term vs. long term bonds has elevated debate within the Federal Reserve on how to adjust interest rates. Responding to President Trump’s tariff increase China recently devalued its currency to make its exported products less expensive for US markets. President Trump has been critical of Fed Chairman Powell and maintains that interest rates should be lowered to counter currency manipulation by China and to continue stimulation of the US economy. The adjustment of interest rates by the Federal Reserve has traditionally been used as a means of controlling US inflation, stimulating production/consumption and thus stabilize/enhance economic growth and employment. This concept is not new. Government intervention in market economies results from theory pioneered by British economist John Maynard Keynes during the 1930s. Known as Keynesian economics the technique of active money/market management is employed by the Federal Reserve and central banking systems throughout the world. <br /><br />To date the Federal reserve has adjusted interest rates to maintain the US economy but has resisted rate adjustments as a means of responding to global currency manipulators and tariff/trade issues. Chairman Powell should consider the expansion of the Fed’s interest rate tool set to address trade/tariff issues providing a more dynamic response to both domestic and global economic environments. Greater control of process parameters is a good thing. <br /> </span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">As for criticism of Chairman Powell by President Trump; maintain the Fed’s independence but get used to the heat. The President is criticized daily by the media and Congress. If someone has a better idea speak up. </span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Best regards to all,</span></span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br />Thomas D. Jay</span></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Semiconductor Industry Consultant<br /><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com</a><br /><a href="https://thomasdalejay.blogspot.com/">https://ThomasDaleJay.blogspot.com</a><br /><a href="http://www.youtube.com/channel/UC8T5Lc8XntcOTYqgXLJbwig/featured">Thomas D. Jay YouTube Channel</a><br /><br /><br /><a href="https://www.youtube.com/watch?v=vIiqAcGr614"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSWMtKeYNfjOtSoiP7siExh7qOgNlFKiS95eTocjrJHRyvhH8OFJxZftwFImbGmBt45OICDcSOQGcwl9o67XAcmSn0GFmSkCQjjSt3-oA1JaxUdhjfweu5JrIMuF8Mq9-9n738Q5Vv8yU7/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" /></a></span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Corporate,
private entities or publications referenced or linked in this article
are the respective owners of their logos, trademarks, service marks,
media content and intellectual property. Unless otherwise disclosed,
Thomas D. Jay has no financial interest in companies referenced in blog
articles or other published media communications. Thomas D. Jay is not a
registered financial advisor. No representation is made to either buy
or sell securities. Opinions expressed by Thomas D. Jay are his own.
Thomas D. Jay does not employ or otherwise utilize/authorize third party
agents to express his opinions, represent his interests or conduct
business on his behalf except where formally contractually designated. </span><span style="font-size: x-large;"><span style="font-family: Arial, Helvetica, sans-serif;">Thomas D. Jay opts out of requests to share personal information or unidentifiable user data. </span></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Thomas D. Jay does not agree to indemnify or hold harmless vendors,
clients or third parties to related contractual agreements and reserves
the right to applicable legal remedies in lieu of arbitration.</span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><span style="background-color: white; color: #222222;"> </span></span><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> Thomas D. Jay retains all copyright and moral rights to his published material, content and brand marketing, and shall in no case be represented, depicted or characterized by parties/entities other than his published "About Thomas D. Jay" descriptor. Contractual agreements are to be written and interpreted in the English language and are subject to the laws of the United States. These terms and conditions shall supersede any conflicting agreement. Clients, vendors and concerned parties should check my blog site at <a href="http://www.thomasdalejay.blogspot.com/">www.thomasdalejay.blogspot.com</a> for periodic updates or changes to theses terms.</span></span>Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-22209444713458024672019-04-02T17:00:00.001-04:002019-04-02T18:04:18.946-04:002020 Approaches - Augmented Unreality and Entertainment<div style="line-height: 100%; margin-bottom: 0in;">
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Recent events in the technology industry remind us that research and development are progressing at an ever accelerating rate. Specifically, the recent SPIE Advanced Lithography conference in San Francisco, ASML joined the eBeam Initiative and SXSW (the South by South West show in Austin, TX). The examples I mention here illustrate the progression of new technologies being deployed, sometimes in advance of our expectations. More critical observers might complain that the newest technologies have yet to be deployed. While we wait anxiously for new high tech toys, we might also take notice of the social trends shaping our society. We’ve seen examples of how human culture and lifestyle change when infused with smart phones and instant access to almost everything. Our language is becoming more technical and our culture is evolving.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Today’s technology/social curve is such that we ask if culture emulates technology or does technology emulate our culture? The question has become familiar cliche. Watching TV one evening my smart phone spoke spontaneously. It was the Google gal who quipped, “I didn’t get that. Did you say something?” I laughed aloud when I realized the Google gal (my name for her) had been listening all along and was responding to a key word she heard on the TV. After a brief laugh of amusement I turned her listening mode off and changed settings to require a keyboard awakening. Tweaking hardware has become more complex. Computer graphics overlaid on real time video screens now appear as heads up displays in our cars and on our smart phones. Such applications are limited only by our imagination and have been marketed as “augmented reality.”</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"></span></span><b><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Augmented Unreality</span></span></b></div>
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">If we examine current trends we begin to see augmented unreality. Special effects and graphic overlays can now seamlessly enhance computer generated unreality and make us question our sensory perceptions. The motion picture “Avatar” is a great example. </span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><br />For many years I’ve been a fan of Asian pop music. Several weeks ago I discovered a collection of music videos produced by the Japanese pop group “Perfume”. A three girl group, Nocchi, Kashiyuka and A-Chan are very popular in Japan and are known for their techno-pop music genre. In sampling their video collection I discovered their live 2015 SXSW stage performance of “Story” which I’ve termed augmented unreality. As the show opens the stage and audience are overlaid with a three dimensional projection which convincingly displaces the immediate surroundings. Accompanied by a high tech sound track the unique effects were unexpected and rewarded with howls of approval by the audience. A 3D change in visual perspective was achieved by rotating the overlay and clever use of layered projection screens on the stage. Studying the video several times it appears that at least two layers of the screen panels are fabricated from optically switched glass such that alternate states of transparency and translucence are used to create a dynamically altered visual display. The technique is used to maximum effect as Nocchi, Kashiyuka and A-Chan maneuver among the panels changing their positioning and perspective on the fly. As if to tease the audience the visually obscured girls suddenly emerge from behind the panels as if to say “Yes, we’re really here.” The crowd roared again. I blinked my eyes several times to confirm my perception and found myself laughing in amazement at the illusion. Perfume’s performance is awesome and beyond verbal description. See for yourself on YouTube. Perfume’s “Story”</span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="https://www.youtube.com/watch?v=zZiPIgCtIxg" target="_blank">https://www.youtube.com/watch?v=zZiPIgCtIxg </a><br /> </span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">In March of 2018, Japanese television network NHK featured another live performance by Perfume. The title for this event is billed as “Reframe, Fusion, Perfume x Technology.” In actually it’s an elaborately repackaged version of “Story.” As an abstract performance it’s difficult to describe but is a must see. It artistically emulates a life/story portrayal in high tech fashion. The final segment “Interlude” exudes technology and seems to embody the physics of optics, memory, metrology and electron beams. Watch the video and decide for yourself. I found my self amazed at the visuals. Perfume has the assistance of skilled technologists required to produce their imaginatively sophisticated videos. We must pay tribute to their off stage effects team. Great Stuff! I highly recommend you view the music video “Reframe, Fusion, Perfume x Technology” but set aside thirty minutes for viewing as you’ll likely re-run segments of interest. See Perfume’s “Reframe, Fusion, Perfume x Technology” video here: <a href="https://www.youtube.com/watch?v=5WQZ_Q8e_pU">https://www.youtube.com/watch?v=5WQZ_Q8e_pU</a> <br /> </span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">A closing thought prompted by Perfume. Years ago I became interested in stained glass art. I bought some colorful glass pieces and made a few items for practice, one of them a small blue pyramid. For years I kept it on my dresser top as a decorative item. A few days ago I ran across another timely music video by Perfume, "Tokyo Girl.” It reminded me of the small glass pyramid I had made. The video opens with Tokyo Tower in the foreground which becomes dwarfed by a high rise computer crafted spire created for the video. Now, where's that pyramid I made? Watch and enjoy. <a href="https://www.youtube.com/watch?v=vxl4gsvgEQY">https://www.youtube.com/watch?v=vxl4gsvgEQY</a></span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> <br />It's inspiring to see technologists advancing the state of the art (and artists) such that inspiration and emulation create new vistas in entertainment. 2020 Should prove interesting.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Get real everyone. Spring time approaches!</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Best regards to all,</span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br />Thomas D. Jay</span></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Semiconductor Industry Consultant<br /><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com</a><br /><a href="https://thomasdalejay.blogspot.com/">https://ThomasDaleJay.blogspot.com</a><br /><a href="http://www.youtube.com/channel/UC8T5Lc8XntcOTYqgXLJbwig/featured">Thomas D. Jay YouTube Channel</a><br /><br />Thomas D. Jay is a member of SPIE and IEEE.<br /><br /><a href="https://www.youtube.com/watch?v=vIiqAcGr614"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSWMtKeYNfjOtSoiP7siExh7qOgNlFKiS95eTocjrJHRyvhH8OFJxZftwFImbGmBt45OICDcSOQGcwl9o67XAcmSn0GFmSkCQjjSt3-oA1JaxUdhjfweu5JrIMuF8Mq9-9n738Q5Vv8yU7/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" /></a></span><br />
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<b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">References and acknowledgements:</span></b><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">[1] Perfume Music Video SXSW "Story" YouTube <a href="https://www.youtube.com/watch?v=zZiPIgCtIxg">https://www.youtube.com/watch?v=zZiPIgCtIxg</a></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">[2]</span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"> Perfume Music Video </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">“Reframe, Fusion, Perfume x Technology” YouTube <span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="https://www.youtube.com/watch?v=5WQZ_Q8e_pU">https://www.youtube.com/watch?v=5WQZ_Q8e_pU</a></span></span> </span></span></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">[3] </span></span></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Perfume Music Video "Tokyo Girl" YouTube </span></span></span></span><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="https://www.youtube.com/watch?v=vxl4gsvgEQY">https://www.youtube.com/watch?v=vxl4gsvgEQY</a></span></span>Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-13622538509718148392018-07-29T15:59:00.001-04:002018-10-24T22:49:28.828-04:00New 4.1% GDP Growth Proves Trump’s Success, Obama’s Failures<div class="separator" style="clear: both; text-align: center;">
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Economic news on July 27, 2018 reported the US has achieved GDP growth (Gross Domestic Product) of 4.1%. In a speech by President Trump on Friday, he announced the new 4.1% GDP data and confirmed the sustained momentum of the US economy. The financial markets and broader US economy are poised to reach new highs. The projected growth should provide sufficient revenue to support recent tax cuts and military spending. <br /> </span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">In addition to positive GDP data, FRED (the Federal Reserve Bank of St. Louis) also reported the fourth consecutive increase in both M1 and M2 velocity, the rate at which US currency changes hands. (take a minute to read the “Background on economic Velocity” below). After FRED’s previous report on velocity in May 2018 (see my earlier blog post) I predicted the recovery begun by President Trump was sustainable based three previously consecutive quarterly increases in velocity.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">See the FRED graphs below: </span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Note the sustained downward trend in M1 and M2 velocity during the eight years of the Obama administration and recovery after President Trump taking office.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Federal Reserve Bank of St. Louis</span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Velocity of M1 Money Stock - July 29, 2018 </span></span><br />
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" 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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Federal Reserve Bank of St. Louis</span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Velocity of M2 Money Stock - July 29, 2018 </span></span><br />
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width="640" /><br /> </span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">While the good news was eagerly reported by the Trump administration, the President’s detractors did their best to discredit the data citing residual recovery trends from the Obama administration (untrue as I will illustrate). Over the years I’ve found that velocity data reported by FRED provides the most telling indicator of the US economy as it mirrors the mood of the broader US population’s spending and savings habits. Because velocity data are reported quarterly (and their meaning/existence obscure to most) they are rarely discussed in financial news reporting. The media more actively observes the myopic daily DOW and NASDAQ market closings and ignores the long time constant required for more accurate quarterly data collection and reporting (such as M1, M2 velocity). <br /><br /> In celebrating President Trump’s recent economic success (confirmed by velocity data forecasting and current GDP reporting) it occurred to me the same velocity data provides a glaring illustration of the complete failure of Barack Obama’s economic policy. In the years preceding Barack Obama the excursions of M1 and M2 velocity tracked (and often anticipated) the rise and fall of the US economy. Note that during Obama’s presidency, both M1 and M2 velocities began a steep sustained decline (for eight consecutive years) until the election of President Trump. Upward movement in Obama era economic and stock market performance (along with its approximated < 1.9% GDP) is more attributable to the acumen of the major Wall Street investment firms, corporate America and their leadership. Wall Street firms utilizing programmed trading and investment in global markets outside the US played all segments of the market to optimize returns for their investors. Unfortunately the average consumer/homeowner didn’t share in this financial market success and experienced the larger downturn in the US economy. In my opinion, during his presidency Mr. Obama hijacked prevailing Wall Street successes and labeled them as his own. <br /><br /> In a separate observation Mr. Obama’s economic policies doubled our national debt during his presidency. An accurate illustration of this might be to assemble previous US Presidents 1 through 43 on one side of a number line with Obama positioned on the opposite side. During his eight year term of office Mr. Obama singularly doubled the national debt over the previous 43 presidents combined. Not an easy task. <br /><br /> President Trump’s critics claim his recent tax cuts and increased military spending have boosted the deficit further, but the current and projected increase in GDP (well above 4.1%) should soon offset this concern and ultimately lower our national debt. President Trump’s strategy for economic recovery and prosperity have been enormously successful. The continued support of his policies and allied candidates during the mid term elections will assure the continued recovery and future success of the US.</span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b><br /></b></span></span>
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"></span></span><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Background on Economic Velocity </b></span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><br />As an important economic indicator, M1 and M2 velocity of the money supply requires your attention. I’ll again review the fundamentals of economic velocity for your reference and further study. <br /> </span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>As defined by FRED (the Federal Reserve Bank of St. Louis): </b><br /><br /> “The velocity of money is the frequency at which one unit of currency is used to purchase domestically produced goods and services within a given time period. In other words, it is the number of times one dollar is spent to buy goods and services per unit of time. If the velocity of money is increasing, then more transactions are occurring between individuals in an economy. The frequency of currency exchange can be used to determine the velocity of a given component of the money supply, providing some insight into whether consumers and businesses are saving or spending their money. There are several components of the money supply,: M1, M2, and MZM (M3 is no longer tracked by the Federal Reserve); these components are arranged on a spectrum of narrowest to broadest. Consider M1, the narrowest component. M1 is the money supply of currency in circulation (notes and coins, traveler’s checks [non-bank issuers], demand deposits, and checkable deposits). A decreasing velocity of M1 might indicate fewer short term consumption transactions are taking place. We can think of shorter term transactions as consumption we might make on an everyday basis. The broader M2 component includes M1 in addition to saving deposits, certificates of deposit (less than $100,000), and money market deposits for individuals. Comparing the velocities of M1 and M2 provides some insight into how quickly the economy is spending and how quickly it is saving.” <br /><br /> Source: Federal Reserve Bank of St. Louis, Velocity of M2 Money Stock [M2V], retrieved from FRED, Federal Reserve Bank of St. Louis; <a href="https://fred.stlouisfed.org/series">https://fred.stlouisfed.org/series</a></span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">In addition President Trump has recently taken many additional steps to boost our economy further.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">1. Tax cuts which increase individual income.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">2. Eliminating the Obama health care penalty mandate.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">3. Eliminated many Obama imposed regulations on businesses and new construction, encouraging new investment.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">4. Eliminated many environmental regulations which inhibit business expansion (new oil pipeline construction).</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">5. Restored the coal industry inclusive of the clean coal initiative.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">6. Challenging unfair excessive tariffs on US goods shipped overseas.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">7. Repatriated US investments from overseas markets to the US. (Apple, Microsoft and others)</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">8. Protected strategic industries with tariffs to encourage domestic development (steel, agriculture, etc.)</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">9. Challenged unfair tariffs on US exports to China.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">10. Signed an agreement with the European Union to establish free trade/no tariff markets.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">11. Signed agreements encouraging Asian based manufacturers to invest in the US (Foxconn and others ).</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">12. Encouraging the Federal Reserve to temper interest rate increases to encourage investment and business expansion.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">13. Eliminating regulations and encouraging investment in LNG distribution (Liquefied Natural Gas) making the US an energy exporter to Europe and the world.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">14. Invoking penalties on IP (Intellectual Property) theft and unfair tariffs imposed on US companies.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">15. President Trump has proposed a second round of tax cuts for consumers soon to be proposed to congress.</span></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></span>
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">16. Larger scale defense funding now provides a more efficient economy of scale on volume purchases effectively reducing military costs as growth continues.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">17. President Trump's insistence that NATO member nations meet their own commitment to 2% investment of their GDP will ultimately reduce US costs over time.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">18. In addition to reducing prescription drug costs a new health care plan is being drafted to make better, less expensive health care available to all. </span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Given time President Trump believes these initiatives (and others) have real potential to boost our GDP above and beyond current 4.1% levels to 8 or 9%. Given the short term success in raising our GDP in record time it would seem President Trump's projected growth forecast for the economy is achievable.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Please join me in congratulating President Trump and his administration for this record economic achievement. Let's ensure this success story continues as the mid term elections approach.</span></span><br />
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<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Best regards,</span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br />Thomas D. Jay</span></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Semiconductor Industry Consultant<br /><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com</a><br /><a href="https://thomasdalejay.blogspot.com/">https://ThomasDaleJay.blogspot.com</a><br /><a href="http://www.youtube.com/channel/UC8T5Lc8XntcOTYqgXLJbwig/featured">Thomas D. Jay YouTube Channel</a><br /><br />Thomas D. Jay is a member of the IEEE.<br /><br /><a href="http://www.linkedin.com/in/thomasdjay/"><img src="https://static.licdn.com/scds/common/u/img/webpromo/btn_myprofile_160x33.png" /></a><br /><br /><a href="https://www.youtube.com/watch?v=vIiqAcGr614"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSWMtKeYNfjOtSoiP7siExh7qOgNlFKiS95eTocjrJHRyvhH8OFJxZftwFImbGmBt45OICDcSOQGcwl9o67XAcmSn0GFmSkCQjjSt3-oA1JaxUdhjfweu5JrIMuF8Mq9-9n738Q5Vv8yU7/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" /></a><br /></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Corporate,
private entities or publications referenced or linked in this article
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or sell securities. Opinions expressed by Thomas D. Jay are his own.
Thomas D. Jay does not employ or otherwise utilize/authorize third party
agents to express his opinions, represent his interests or conduct
business on his behalf except where formally contractually designated. </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="background-color: white; color: #222222; display: inline; float: none; font-style: normal; font-weight: 400; letter-spacing: normal; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;">By default Thomas D. Jay opts out of requests to share personal information or incidentally collected unidentifiable user data.</span></span>
Thomas D. Jay does not agree to indemnify or hold harmless vendors,
clients or third parties to related contractual agreements and reserves
the right to applicable legal remedies in lieu of arbitration. </span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;"><span style="background-color: white; color: #222222;">Contractual agreements are to be written and interpreted in the English language and are subject to the laws of the United States. Clients, vendors and concerned parties should check my blog site at </span><a href="http://www.thomasdalejay.blogspot.com/" style="background-color: white;" target="_blank">www.thomasdalejay.blogspot.com</a><span style="background-color: white; color: #222222;"> for periodic updates or changes to theses terms.</span></span><br />
<br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span><b><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">References and acknowledgements:</span></b><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">[1] </span><span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Federal Reserve Bank of St. Louis, Velocity of M2 Money Stock [M2V], retrieved from FRED, Federal Reserve Bank of St. Louis; <a href="https://fred.stlouisfed.org/series">https://fred.stlouisfed.org/series</a></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">[2] <a href="http://whitehouse.gov/">whitehouse.gov</a></span><br />
<span style="font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> <br /><br /> <br /> </span></span>Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-81884301758219215822018-05-21T13:07:00.000-04:002018-07-16T14:50:33.691-04:00Fair Trade -The Good War That Wasn’t<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjIzjrqbUZqRHbk0Uhr3uLwhrgI5H4BF3QGvymXx9v_AEPY7uJbdm3kaVt0XsdGiuJIPROrnKWUXrh6dMcVMX2RiM72AyKnxfqTCbVlpEz1c1KGSmrJtHZAP5Cv7ESUaypbZLTArlACqSRO/s1600/TDJ_TechnologyGroupLogo_01_21_2013.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="797" data-original-width="1303" height="121" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjIzjrqbUZqRHbk0Uhr3uLwhrgI5H4BF3QGvymXx9v_AEPY7uJbdm3kaVt0XsdGiuJIPROrnKWUXrh6dMcVMX2RiM72AyKnxfqTCbVlpEz1c1KGSmrJtHZAP5Cv7ESUaypbZLTArlACqSRO/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" width="200" /></a></div>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">In a vocal response to President Trump’s trade diplomacy media outlets have been rife with fears of trade war with China and other global markets. In spite of the doom and gloom forecast by media mavens, the market’s tech sector rallied this morning (May 21, 2018) rising 300 points to put the DOW at 25,000 [1]. The trade war predicted by major media outlets has been put on hold as cooler heads prevail among both Chinese and US negotiators. Agreements have been reached on US agricultural products (and other sectors). President Trump was correct in observing the gross imbalance of trade with China conceding the fault was US based. Prior US administrations have failed to effectively represent US trade interests in the past. The tough Chinese negotiating position was anticipated but was surprisingly tempered when President Trump acknowledged the difficult situation facing Chinese based telecom giant ZTE. ZTE has been in the news for violating trade sanctions by shipping technology products to Iran and North Korea. The violation of sanctions resulted in a $1.3B fine for ZTE but the alleged theft of US intellectual property was also exacerbated by potential network/back door security concerns. </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /> In a surprise negotiating position, President Trump conceded that the punitive moves placed an extraordinary financial hardship on ZTE, jeopardized the employment of thousands there and threatened ZTE’s viability as a major player in the Chinese technology landscape. Perhaps the Chinese negotiators recognized President Trump’s position; that threats to large scale employment for either the US or China should be avoided. President Trump and Chinese President Xi Jinping agreed to a change in ZTE management and restored access to critical US components with provisions safeguarding US intellectual property and network security concerns. The ZTE scenario exemplifies the challenges our semiconductor and semi equipment industry will face as Chinese ambitions expand to include a larger scale semiconductor manufacturing economy. <br /><br />In spite of the constructive overture to ZTE and the Chinese, an unrelenting discussion of President Trump’s trade tactics consumed the weekend. In a recent discussion on CNBC, many traders expressed their objection to a Trump imposed trade war encompassing a spectrum of consumer and industrial products. Most predicted conflict in the world markets as tariffs are discussed during trade negotiations. I cheered and waved a thumbs up at my TV screen as veteran CNBC commentator Rick Santelli [2] correctly defended President Trump’s position by noting that previous administrations had conceded the trade war years ago and had lost. President Trump is now picking up the pieces, negotiating from the ground up and creating a viable trade platform from which we might establish a fair and equitable balance of international trade. <br /><br /> Comprehensive trade negotiations with China (and the rest of the world) will take time. Preconditioned to operate from an IP Free trade zone (no Intellectual Property protection) without concerns for trade inequities, kleptocrats the world over must accept the new reality of US trade policies. US based corporations and politicians might defer trade discussions as President Trump and his administration do the heavy lifting and negotiate for our economic well being. <br /><br /> In a new world of balanced trade policy US companies should be bolstered by effective new standards protecting intellectual property and best business practices.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Best regards,</span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br />Thomas D. Jay</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Semiconductor Industry Consultant<br /><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com</a><br /><a href="https://thomasdalejay.blogspot.com/">https://ThomasDaleJay.blogspot.com</a><br /><a href="http://www.youtube.com/channel/UC8T5Lc8XntcOTYqgXLJbwig/featured">Thomas D. Jay YouTube Channel</a><br /><br />Thomas D. Jay is a member of the IEEE.<br /><br /><a href="http://www.linkedin.com/in/thomasdjay/"><img src="https://static.licdn.com/scds/common/u/img/webpromo/btn_myprofile_160x33.png" /></a><br /><br /><a href="https://www.youtube.com/watch?v=vIiqAcGr614"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSWMtKeYNfjOtSoiP7siExh7qOgNlFKiS95eTocjrJHRyvhH8OFJxZftwFImbGmBt45OICDcSOQGcwl9o67XAcmSn0GFmSkCQjjSt3-oA1JaxUdhjfweu5JrIMuF8Mq9-9n738Q5Vv8yU7/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" /></a><br /><br />Corporate, private entities or publications referenced or linked in this article are the respective owners of their logos, trademarks, service marks, media content and intellectual property. Unless otherwise disclosed, Thomas D. Jay has no financial interest in companies referenced in blog articles or other published media communications. Thomas D. Jay is not a registered financial advisor. No representation is made to either buy or sell securities. Opinions expressed by Thomas D. Jay are his own. Thomas D. Jay does not employ or otherwise utilize/authorize third party agents to express his opinions, represent his interests or conduct business on his behalf except where formally contractually designated. </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="background-color: white; color: #222222; display: inline; float: none; font-style: normal; font-weight: 400; letter-spacing: normal; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;">By default Thomas D. Jay opts out of requests to share personal information or incidentally collected unidentifiable user data.</span></span> Thomas D. Jay does not agree to indemnify or hold harmless vendors, clients or third parties to related contractual agreements and reserves the right to applicable legal remedies in lieu of arbitration. These terms are subject to change. Concerned parties should check this blog site for periodic updates.</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">References and acknowledgements:</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Note: This article was updated May 27, 2018 to reflect a recently negotiated agreement on ZTE by President Trump and Chinese President Xi Jinping.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">[1] CNBC News</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">[2] CNBC News Rick Santelli comments (paraphrased)</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span>Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-85213304545769964252018-05-15T19:47:00.000-04:002018-05-15T19:57:57.357-04:00May 15, 2018 - What’s Happening With The US Economy an Update<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjIzjrqbUZqRHbk0Uhr3uLwhrgI5H4BF3QGvymXx9v_AEPY7uJbdm3kaVt0XsdGiuJIPROrnKWUXrh6dMcVMX2RiM72AyKnxfqTCbVlpEz1c1KGSmrJtHZAP5Cv7ESUaypbZLTArlACqSRO/s1600/TDJ_TechnologyGroupLogo_01_21_2013.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="797" data-original-width="1303" height="121" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjIzjrqbUZqRHbk0Uhr3uLwhrgI5H4BF3QGvymXx9v_AEPY7uJbdm3kaVt0XsdGiuJIPROrnKWUXrh6dMcVMX2RiM72AyKnxfqTCbVlpEz1c1KGSmrJtHZAP5Cv7ESUaypbZLTArlACqSRO/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" width="200" /></a></div>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">After President Trump took office economists and market watchers observed the stock market make a steady climb upward. Many pundits were critical of the fanfare as fundamental economic indicators seemed positive but had not yet shown sustained upward momentum. A key economic indicator I’ve been tracking has recently demonstrated three consecutive quarters of upward momentum. The Federal Reserve’s Economic Data as tracked by the Federal Reserve Bank of St. Louis (FRED) regularly reports on the M2 Money supply of US Dollars as well as its velocity.<br /> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">As defined by FRED:<br /> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">“ [1]The velocity of money is the frequency at which one unit of currency is used to purchase domestically produced goods and services within a given time period. In other words, it is the number of times one dollar is spent to buy goods and services per unit of time. If the velocity of money is increasing, then more transactions are occurring between individuals in an economy. The frequency of currency exchange can be used to determine the velocity of a given component of the money supply, providing some insight into whether consumers and businesses are saving or spending their money. There are several components of the money supply,: M1, M2, and MZM (M3 is no longer tracked by the Federal Reserve); these components are arranged on a spectrum of narrowest to broadest. Consider M1, the narrowest component. M1 is the money supply of currency in circulation (notes and coins, traveler’s checks [non-bank issuers], demand deposits, and checkable deposits). A decreasing velocity of M1 might indicate fewer short term consumption transactions are taking place. We can think of shorter term transactions as consumption we might make on an everyday basis. The broader M2 component includes M1 in addition to saving deposits, certificates of deposit (less than $100,000), and money market deposits for individuals. Comparing the velocities of M1 and M2 provides some insight into how quickly the economy is spending and how quickly it is saving.”<br /> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Source: Federal Reserve Bank of St. Louis, Velocity of M2 Money Stock [M2V], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/M2V, November 8, 2016.<br /> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">On November 6, 2016, I reviewed the FRED M2 Velocity graph which illustrated a sustained and worrysome downward trend (see my previous blog post from November 6, 2016).</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><a href="https://thomasdalejay.blogspot.com/2016/11/pre-election-special-whats-really.html">https://thomasdalejay.blogspot.com/2016/11/pre-election-special-whats-really.html</a><br /> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">That year we continued to see news stories about Wall Street gains along with monthly cheers for small, incremental increases in the employment rate while still puzzling over our economic stagnation. The Obama administration had ceased the larger publication of the complete scale of unemployment data publishing only the U3 component (<a href="https://www.bls.gov/webapps/legacy/cpsatab15.htm">although table A15 citing tables U1–U6 is still published</a>). With almost 10% of our nation unemployed we had a serious problem. Then Federal Reserve Chair Janet Yellen correctly observed and reported the unemployment dilemma immediately after taking office. As the inflation rate was in single digits, Yellen continued economic stimulus of the M2 money supply but was reluctant to raise interest rates for fear of stalling the M2 velocity further and crashing our still fragile consumer economy. Obama Care and regulatory policies had crippled the US economy, placing greater financial burdens on employers and individuals by discouraging the hire of new, full time employees.<br /> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">The current May 15, 2018 Federal Reserve Bank of St. Louis, Velocity of M2 Money Stock chart is displayed below. Note the recovery since Q2 2017 and sustained upward trajectory of the M2 velocity through Q1 2018. Although data can be collected and displayed rapidly many factors reported by FRED are trends reflecting time constants inherent in a complex economy. Improvement in economic trend lines as expressed by consumer spending can sometimes manifest itself in a slow upward ramp as a large population builds its confidence in market conditions over time.<br /> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">The May 2018 Federal Reserve M2 Velocity Chart Shows 3 Consecutive Quarters of Growth</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhUkCiVhPfCw6PxLqsuYnNiafAcJaBXaz9FYvH0CNahf-yrnOlG981PF9ze0Hk_rDotNlp0iP9Fu_Cso-tvNq9cEe1dGKbs_Fc0SxXoSR6p6-t67huRIf7bYz2ILatIpI-Yq_lYXkbwgmlE/s1600/fredgraph.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="470" data-original-width="1168" height="257" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhUkCiVhPfCw6PxLqsuYnNiafAcJaBXaz9FYvH0CNahf-yrnOlG981PF9ze0Hk_rDotNlp0iP9Fu_Cso-tvNq9cEe1dGKbs_Fc0SxXoSR6p6-t67huRIf7bYz2ILatIpI-Yq_lYXkbwgmlE/s640/fredgraph.png" width="640" /></a></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><a href="https://www.federalreserve.gov/newsevents/pressreleases/other20180205a.htm">Jerome H. Powell was sworn in as Federal Reserve Chairman on February 5, 2018.</a> Appointed by President Trump he succeeds Janet Yellon. As the economy improves Chairman Powell has resumed Yellon’s watch on interest rates as spending increases and business expands.<br /> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Three major factors restored the M2 velocity and broader economic trends:<br /> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">1. The Obama Care tax penalty mandate was recently recinded by congress (tax penalties for those who couldn’t afford the premium payments).<br /> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">2. President Trump’s tax cut passed by congress was a major boon to employers resulting in large scale bonuses and wage hikes for many hourly employees.<br /> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">3. President Trump removed many of the regulations imposed on business during the Obama years. The coal industry was almost completely destroyed by zealous regulators who championed solar power as an alternative rather than complementary asset to our traditional coal energy resources.</span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">President Trump continues to champion US business by addressing unfair trade deficit issues with the international community. In addition, President Trump plans to pursue additional tax cuts which should further stimulate the economy. The repatriation of $Trillions in US business cash assets from overseas banks and the return of outsourced manufacturing to the US mainland should help sustain US job growth.<br /> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">A final note: After years of trending downward I saw the M2 Velocity move upward for the first time a few months ago and was eager to report the news. As a former trader on the NYSE and NASDAQ and as a career semiconductor industry executive/strategist, caution tempered my enthusiasm. It seemed prudent to observe a few quarters of sustained upward momentum before reporting what I consider to be a significant inflection point in the US economy.<br /> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">I add my voice to the many who have already declared our economy is experiencing real recovery which should sustain itself throughout President Trumps term of office and influence.<br /> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Best regards,<br /> </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br />Thomas D. Jay</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Semiconductor Industry Consultant<br /><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com</a><br /><a href="https://thomasdalejay.blogspot.com/">https://ThomasDaleJay.blogspot.com</a><br /><a href="http://www.youtube.com/channel/UC8T5Lc8XntcOTYqgXLJbwig/featured">Thomas D. Jay YouTube Channel</a><br /><br />Thomas D. Jay is a member of SPIE and IEEE<br /><br /><a href="http://www.linkedin.com/in/thomasdjay/"><img src="https://static.licdn.com/scds/common/u/img/webpromo/btn_myprofile_160x33.png" /></a><br /><br /><a href="https://www.youtube.com/watch?v=vIiqAcGr614"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSWMtKeYNfjOtSoiP7siExh7qOgNlFKiS95eTocjrJHRyvhH8OFJxZftwFImbGmBt45OICDcSOQGcwl9o67XAcmSn0GFmSkCQjjSt3-oA1JaxUdhjfweu5JrIMuF8Mq9-9n738Q5Vv8yU7/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" /></a><br /><br />Corporate, private entities or publications referenced or linked in this article are the respective owners of their logos, trademarks, service marks, media content and intellectual property. Unless otherwise disclosed, Thomas D. Jay has no financial interest in companies referenced in blog articles or other published media communications. Thomas D. Jay is not a registered financial advisor. No representation is made to either buy or sell securities. Opinions expressed by Thomas D. Jay are his own. Thomas D. Jay does not employ or otherwise utilize/authorize third party agents to express his opinions, represent his interests or conduct business on his behalf except where formally contractually designated. Thomas D. Jay does not agree to indemnify or hold harmless vendors, clients or third parties to related contractual agreements and reserves the right to applicable legal remedies in lieu of arbitration. These terms are subject to change. Concerned parties should check this blog site for periodic updates.</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">References and acknowledgements:</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">[1] Federal Reserve Bank of St. Louis, Velocity of M2 Money Stock [M2V], retrieved from FRED, Federal Reserve Bank of St. Louis; <a href="https://fred.stlouisfed.org/series/M2V">https://fred.stlouisfed.org/series/M2V</a></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">[2] Thomas D. Jay blog post November 6, 2016 <a href="https://thomasdalejay.blogspot.com/2016/11/pre-election-special-whats-really.html">https://thomasdalejay.blogspot.com/2016/11/pre-election-special-whats-really.html</a></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br />[3] US Bureau of Labor Statistics web site</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><a href="https://www.bls.gov/webapps/legacy/cpsatab15.htm">although table A15 citing tables U1–U6 is still published</a></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">[4] </span><span style="font-family: arial, helvetica, sans-serif; font-size: x-large;">Federal Reserve Bank of St. Louis</span><br />
<span style="font-family: arial, helvetica, sans-serif; font-size: x-large;"><a href="https://fred.stlouisfed.org/graph/?id=M2V,#0">https://fred.stlouisfed.org/graph/?id=M2V,#0</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">[5] Jerome H. Powell</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"> </span> Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-45004381811316566262018-03-24T18:53:00.000-04:002018-03-25T16:24:12.340-04:00Quantum Assisted Metrology for Semiconductor Lithography<br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Unfortunately I was unable to attend the 2018 SPIE Advanced Lithography Conference but I continue to follow the subject of EUV Lithography with great interest. Having reviewed the many articles published after the conference, I have summarized my own thoughts and observations.<br /><br />When I first entered the semiconductor market place, half micron CDs were the state of the art and the world anticipated the arrival of 0.2 micron geometries. Metrology mapping systems rapidly proliferated and provided visualization of critical resistivity, film thickness and lithography parametrics. Equally important, SPC (Statistical Process Control) enabled the effective management of complex multi-layer devices which became ever more challenging over time. Available metrology capabilities captured data collected from up to 625 sites (imagine) on a wafer’s process layer creating mountains of data for SPC analysis. I remember customer sites where process engineers crowded around metrology tools waiting for wafer maps to appear. Given the 286 microprocessor technology at the time, several agonizing minutes were required to compile and display wafer maps. Impatient process engineers were quickly rewarded with more rapid analysis as 386 and 486 microprocessors arrived. One day we were all stunned as a newly installed Pentium equipped work station displayed maps instantly with no wait time. Surplus processor speeds further advanced metrology by enabling statistical enhancement and stochastic analysis on the fly. With idle CPU time it became possible to dwell over a single test site, make multiple measurements and statistically treat the data enhancing accuracy and precision. Wafer maps comprised of such data yielded superior process control and set expectations for future device designs.<br /><br />Fast forward to ten years ago. Enhancements in CPU speed and metrology went on to enable computational lithography. As it turns out, what you see is not always what you get from a mask design. Unanticipated effects can occur when mask design combined with local physical effects yield distorted images when printed on a wafer. In these instances lithography tool characteristics and mask metrology data can be utilized to compute an optical correction for the mask. Computational lithography can yield an altered mask structure which appears malformed but prints the intended image when corrected for distorting influences. <br /><br />The benefits of computational lithography are best obtained in a data rich environment; tool data obtained from focus exposure plots, TIS data, physical interactions of materials and other well understood process variables. The current challenge posed by EUVL is the absence of information required for analysis. Even with advanced computer algorithms smoothing stochastic/random data a sufficiently accurate distribution of process/event related phenomenon are not available in the absence of a photon rich environment. EUV photon densities which can be counted on one hand yield process uncertainties you can drive a Mack truck through (I hear this is being worked on). These observations have been discussed extensively at prior conferences; CD uniformity, LER (Line Edge Roughness) often thought to be primarily dosimetry related can be caused by other influential factors. Having studied many conference materials published by the eBeam Initiative, it seemed advanced ebeam shot tasking algorithms provided the best pattern generation abilities, providing precise control of beam energy/current, dwell time over target and beam spot size. In spite of precise control of these critical variables, ebeam lithography can still benefit from computational lithography analysis.</span><br />
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<br />It would seem the 2018 SPIE conference has brought us full circle, resuming prior discussions on available EUV source power and compensation for its absence. We are again discussing resist materials for use with less than optimal EUV power; their sensitivities to secondary emissions and related cause/effect variables. It would seem we must pursue three strategies in the continued quest for EUVL.<br /><br />1. QAM (Quantum Assisted Metrology). The number of structures resulting from 5 nm design rules in High Volume Manufacturing continue to grow geometrically. Given fifty or more mask levels it will be challenging to fabricate trillions of critical device structures, all of which must be perfectly formed to achieve anticipated process yields. The lithography challenge here remains significant as it is reported that EUV masks are not yet interchangeable among EUV steppers. The metrology required for analysis and SPC of such devices is currently insufficient to the task as any measurement speed improvements are offset by the sheer volume of CDs to be measured. QAM (Quantum Assisted Metrology) providing parallel processing of data distributed among multiple logic states would seem to be a priority pursuit in extending the viability of EUVL. <br /><br />2. QA-IMF (Quantum Assisted - In-situ Metrology Fabrication). Assuming the successful implementation of QAM, a future EUVL strategy might entail a QAM module providing real time feedback of metrology/process control information to QA-IMF (Quantum Assisted - In-situ Metrology Fabrication tools). Metrology data fed back to optimize fabrication/lithography tool accuracy is not a new concept but when considered for use with EUVL on 5 nm structures we must similarly consider the implementation of Quantum computed data to make the concept viable. E beam systems are being proposed featuring In-situ metrology providing feed back to enhance write accuracy. Similarly implemented in EUVL, such systems could benefit from this design approach and greatly improve speed, accuracy and precision for advanced maufacturing.<br /><br />3. Continued development of a high power/uptime EUV light source. I will not elaborate here other than to say we are all aware we will need an abundance of EUV photons to adequately address future EUVL requirements.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">In conclusion, I continue to follow the EUV program and the contributions of many with great interest. It would seem the application of quantum computing might provide the best approach to any demanding semiconductor problem set inclusive of EUVL. [1] <a href="https://youtu.be/yy6TV9Dntlw" target="_blank">IBM seems a likely candidate to assist in providing an accelerated path adapting quantum computation to semiconductor applications.</a></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">We will see what the future brings. <br /><br />Regards to all,</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Thomas D. Jay<br />Semiconductor Industry Consultant<br /><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com</a><br /><a href="https://thomasdalejay.blogspot.com/">https://ThomasDaleJay.blogspot.com</a><br /><a href="http://www.youtube.com/channel/UC8T5Lc8XntcOTYqgXLJbwig/featured">Thomas D. Jay YouTube Channel</a><br /><br />Thomas D. Jay is a member of SPIE and IEEE<br /><br /><a href="http://www.linkedin.com/in/thomasdjay/"><img src="https://static.licdn.com/scds/common/u/img/webpromo/btn_myprofile_160x33.png" /></a><br /><br /><a href="https://www.youtube.com/watch?v=vIiqAcGr614"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSWMtKeYNfjOtSoiP7siExh7qOgNlFKiS95eTocjrJHRyvhH8OFJxZftwFImbGmBt45OICDcSOQGcwl9o67XAcmSn0GFmSkCQjjSt3-oA1JaxUdhjfweu5JrIMuF8Mq9-9n738Q5Vv8yU7/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" /></a><br /><br />Corporate, private entities or publications referenced or linked in this article are the respective owners of their logos, trademarks, service marks, media content and intellectual property. Unless otherwise disclosed, Thomas D. Jay has no financial interest in companies referenced in blog articles or other published media communications. Thomas D. Jay is not a registered financial advisor. No representation is made to either buy or sell securities. Opinions expressed by Thomas D. Jay are his own. Thomas D. Jay does not employ or otherwise utilize/authorize third party agents to express his opinions, represent his interests or conduct business on his behalf except where formally contractually designated. Thomas D. Jay does not agree to indemnify or hold harmless vendors, clients or third parties to related contractual agreements and reserves the right to applicable legal remedies in lieu of arbitration. These terms are subject to change. Concerned parties should check this blog site for periodic updates.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">References and acknowledgements:</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">[1] IBM web site</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><a href="https://youtu.be/yy6TV9Dntlw">https://youtu.be/yy6TV9Dntlw</a></span><br />
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Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-23313560637257383842018-01-12T22:52:00.000-05:002018-07-19T23:47:45.265-04:00Net Neutrality and Cable Broadcasting in the Public Interest<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br /></span>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">On December 14, 2017 the FCC voted to rescind US Internet access rules termed “Net Neutrality”. Simply stated, Net Neutrality ensured common carrier/equal access to the Internet without regard to infrastructure ownership or incidental third party network traffic. By rescinding net neutrality rules FCC Chairman, Ajit Pai encouraged major network players to invest in new infrastructure without concern for the incidental subsidization of competition carried on their privately owned networks. Network owners can now slow or block competitive traffic on their systems and prioritize their own services or programming. While a controversial move, the ruling removes the on-going inhibitions of key industry players contemplating expansive investment in new Internet/network technologies. Passage of President Trump’s Tax Reform legislation further prompted major industry players AT&T, Comcast and Time Warner to proceed with planned capital investments in their networks. After the tax bill was signed, major cable system providers announced their intentions to invest in new Internet infrastructure. As the affirmation of owner/operator control of the Internet displaces the common carrier philosophy of Barack Obama, Internet capacity should expand at an accelerating rate as new technologies displace aging hardware. With the US government rescinding net neutrality and facilitating capital investment, the Internet’s evolution toward privately owned infrastructure will foment new efficiencies of scale as well as future challenges to the treatment of public interest policy.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><b>Broadcasting in the Public Interest</b></span></div>
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<br />For the purpose of this discussion we must first consider the current market segmentation of publicly available Internet based communication services (including cell phones), entertainment programming (cable and satellite carriers) along with on-the-air broadcast of TV news and programming. In the early days of broadcasting the <a href="https://en.wikipedia.org/wiki/Communications_Act_of_1934#cite_note-15">Communications Act of 1934</a> established rules for the broadcast of radio and TV programming. The FCC assigned radio and TV channels to commercial broadcast operators with the understanding they operate in the public interest. Public interest programming standards ensured family friendly program content, and reinforced established cultural mores (limiting profanity and program content). Network censors monitored commercial broadcasts and “bleeped out” inappropriate content during live programming while recorded programming was subject to censor review and edited as required prior to broadcast. News and information programming was reviewed for accuracy and ethical treatment of subject matter. Today, on-the-air programming is similarly monitored and subject to standards which have evolved over the years. However the emergence of the non-broadcast cable industry has radically changed programming and network news content and requires we rethink the concept of broadcasting in the public interest.<br /><br />Cable distribution of television programming has evaded the FCC's “public interest” regulations as the transmission of programming is made on a closed commercially owned system available by encrypted subscription only. As such the prevailing FCC broadcast rules which set standards for family friendly content may not apply. Hence the popularity and distribution of the many racy programs popular on cable networks. The <a href="https://transition.fcc.gov/Reports/tcom1996.pdf" target="_blank">Telecommunications Act of 1996</a> establishes more current guide lines for programming and media content. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><b>A Possible Solution – Create a Two Tier Public/Private Internet System for the US</b></span></div>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br />That said, we must consider the advantage/necessity of restoring unhindered access to the Internet as per net neutrality rules. Given unhindered access, we must also address concerns and ensure services and programming provide a safe, family friendly environment. On January 8, 2018 President Trump signed an <a href="https://www.whitehouse.gov/presidential-actions/presidential-memorandum-secretary-interior/">executive order</a> providing broadband service for rural communities. We should urge President Trump and the FCC to establish standards for two systems; a commercial system owned and operated by private operators such as Comcast and Time Warner as well as a net neutral system sponsored/subsidized by the US government and private/commercial sponsors. Under such an arrangement, paid private cable subscription programming could continue in its current form while a second publicly available net neutral system could provide both public access to the Internet and ensure a trustworthy conduit for family friendly programming operating under the FCC’s "Public Interest” rules. The details of such an arrangement would require a rethink by the FCC and the cable industry and might require new authorizations and funding by congress. It would seem a one size fits all Internet system requires a two tier approach to accommodate a large US based private/public market place.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Best regards,</span><br />
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<b><span style="font-size: medium;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Thomas D. Jay</span></span></b><br />
<b><span style="font-size: medium;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Semiconductor Industry Consultant</span></span></b><br />
<span style="font-size: medium;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com</a></span></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Thomas D. Jay is a member of SPIE and IEEE</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Corporate, private entities or publications referenced or linked in this article are the respective owners of their logos, trademarks, service marks, media content and intellectual property. Unless otherwise disclosed, Thomas D. Jay has no financial interest in companies referenced in blog articles or other published media communications. Thomas D. Jay is not a registered financial advisor. No representation is made to either buy or sell securities. Opinions expressed by Thomas D. Jay are his own. Thomas D. Jay does not employ or otherwise utilize/authorize third party agents to express his opinions, represent his interests or conduct business on his behalf except where formally contractually designated. Thomas D. Jay does not agree to indemnify or hold harmless vendors, clients or third parties to related contractual agreements and reserves the right to applicable legal remedies in lieu of arbitration. These terms are subject to change. Concerned parties should check this blog site for periodic updates.</span><br />
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<span style="font-size: medium;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">[1] <a href="https://en.wikipedia.org/wiki/Communications_Act_of_1934#cite_note-15" target="_blank">Communications Act of 1934</a></span></span><br />
<span style="font-size: medium;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Wikipedia</span></span><br />
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<span style="font-size: medium;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">[2] <a href="https://transition.fcc.gov/Reports/tcom1996.pdf" target="_blank">Telecommunications Act of 1996</a></span></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">FCC.gov</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br />[3] <a href="https://www.whitehouse.gov/presidential-actions/presidential-memorandum-secretary-interior/">President Trump Executive Order January 8, 2018</a><br />White House.gov</span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /></span>
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Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-29111508687961806612017-03-28T13:19:00.003-04:002021-07-22T21:05:54.692-04:00New Trends in The Field Programmable Gate Array Market - Software Defined Radio<div style="line-height: 100%; margin-bottom: 0in;">
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<span style="font-size: x-large;"><span face="Arial, Helvetica, sans-serif" style="font-family: arial;">The latest trend in radio electronic communication is SDR or "Software Defined Radio". What is SDR? SDR emulates radio hardware and function in computer based software. That is to say that many functions of the radio; tuning, bandpass, filtering and graphic displays are accomplished in software rather than hardware. As these hardware functions are emulated in software, greater computational power is required to accomplish these tasks in real/near real time. Up until recently the SDR market has been limited to advanced military applications such as Joint Stars. However, the market is evolving with the aid of personal computers and FPGA technology. As an FCC licensed amateur radio operator, I recently purchased a new radio tranceiver made by a well known Japanese manufacturer called Icom. The Icom IC-7300 tranceiver is the first implementation of an FPGA (Field Programmable Gate Array) in non-military consumer/ham radio equipment. Such high performance SDR radios now feature "water fall displays", a scrolling graphic representation of spectral data spanning an entire frequency band, effectively providing a "radar scope" like view of radio stations populating the dial. </span></span><div><span style="font-family: arial; font-size: x-large;"><br /></span></div><div><div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEitURFfp2NstlBNY3VFJ2U8Zm8oMNd3t7Ea_IdImxZ82HbO9ABL52iTn6I59KVmU8Vfh5nXR1mHsr8nmXp10dHO7Yi_KoZUDePp250ZhoZ32XZ2AeSP5wI_crxUhdk96thhcLKHqbI25vnD/s2048/DSC_0132.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: arial; font-size: x-large;"><img border="0" data-original-height="2048" data-original-width="1152" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEitURFfp2NstlBNY3VFJ2U8Zm8oMNd3t7Ea_IdImxZ82HbO9ABL52iTn6I59KVmU8Vfh5nXR1mHsr8nmXp10dHO7Yi_KoZUDePp250ZhoZ32XZ2AeSP5wI_crxUhdk96thhcLKHqbI25vnD/w362-h640/DSC_0132.JPG" width="362" /></span></a></div></div><div><span style="font-size: x-large;"><span face="Arial, Helvetica, sans-serif" style="font-family: arial;"><br /></span></span></div><div><span style="font-size: x-large;"><span face="Arial, Helvetica, sans-serif" style="font-family: arial;">Top image; Yaesu FTM-400XDR with conventional display. Middle and bottom images; Icom IC-7300 and </span></span></div><div><span style="font-size: x-large;"><span face="Arial, Helvetica, sans-serif" style="font-family: arial;">IC-7610 SDR transceiver displays.</span></span></div><div><span style="font-family: arial; font-size: x-large;"><br /></span></div><div><span style="font-family: arial; font-size: x-large;">The initial introduction of SDR required a high performance computer coupled to radio transmitter/receiver hardware at cost points higher than traditionally found in the radio tranceiver market. The problem with SDR software implementation in stand alone radios (without a dedicated computer) has been insufficient CPU power to present the user with both the graphic scope display, tuning data and audio in real time. The first delivery of stand alone SDR tranceivers permitted a choice of two modes; a graphic "water fall display", with on screen tuning data, or received real time audio. You had to switch modes to hear audio or see specific display data of interest. To solve this problem, Icom employed an FPGA in the system (an Altera EP4CE55F23I7N Cyclone IV E running at 200MHz) which facilitates simultaneous audio processing and graphic display of this information. With this enablement you can now tune in on a graphic radar-like "blip of interest" (a radio station) instead of moving the tuning dial to see what might be there. The Icom product web site provides a block diagram illustrating the incorporation of an FPGA (scroll down the page) in the transmit and receive circuits. As SDR is more widely adapted among many new products, we will see an evolutionary gain in consumer product cost/performance.</span></div><div>
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<span><span face="Arial, Helvetica, sans-serif">Publicly posted data on The MarketsandMarkets web site estimates the collective SDR radio market to be $16.24 Billion in 2016, and projected to reach $29.12 Billion by 2021. Utilizing 2015 as the base year for its study, MarketsandMarkets further estimates expansion of the SDR market at a compound annual growth rate of 12.39% from 2016 to 2021. For more information on SDR market projections see the MarketsandMarkets web link below.</span></span><br /><br /><span><span face="Arial, Helvetica, sans-serif">Acknowledgments and Reference Links</span></span><br />
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<span><span face="Arial, Helvetica, sans-serif">See the Icom brochure link: <a href="http://www.icomamerica.com/en/products/amateur/hf/7300/default.aspx">http://www.icomamerica.com/en/products/amateur/hf/7300/default.aspx</a></span></span><br /><br />
<span><span face="Arial, Helvetica, sans-serif">MarketsandMarkets public web site data on SDR market sector growth:</span></span><br />
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<span><span face="Arial, Helvetica, sans-serif"><a href="http://www.marketsandmarkets.com/Market-Reports/software-defined-radios-market-138946173.html?gclid=Cj0KEQjwk-jGBRCbxoPLld_bp-IBEiQAgJaftaNvaYpUv_WuONzcL5iM4a7k0O9spPRs62Z4L63eMxMaAvVj8P8HAQ">http://www.marketsandmarkets.com/Market-Reports/software-defined-radios-market-138946173.html?gclid=Cj0KEQjwk-jGBRCbxoPLld_bp-IBEiQAgJaftaNvaYpUv_WuONzcL5iM4a7k0O9spPRs62Z4L63eMxMaAvVj8P8HAQ</a> </span></span><br /><br />
<span><span face="Arial, Helvetica, sans-serif">Best Regards,</span></span><br /><br />
<span><span face="Arial, Helvetica, sans-serif">Thomas D. Jay</span></span><br /><span><span face="Arial, Helvetica, sans-serif">Semiconductor Industry Consultant</span></span><br /><br />
<span><span face="Arial, Helvetica, sans-serif"><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com</a></span></span><br />
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<span><span face="Arial, Helvetica, sans-serif"></span></span><br /><span><span face="Arial, Helvetica, sans-serif">Corporate, private entities or publications referenced or linked in this article are the respective owners of their logos, trademarks, service marks, media content and intellectual property. Unless otherwise disclosed, Thomas D. Jay has no financial interest in companies referenced in blog articles or other published media communications. Thomas D. Jay is not a registered financial advisor. No representation is made to either buy or sell securities. Opinions expressed by Thomas D. Jay are his own. Thomas D. Jay does not employ or otherwise utilize/authorize third party agents to express his opinions, represent his interests or conduct business on his behalf except where formally contractually designated. Thomas D. Jay does not agree to indemnify or hold harmless vendors, clients or third parties to related contractual agreements and reserves the right to applicable legal remedies in lieu of arbitration. These terms are subject to change. Concerned parties should check this blog site for periodic updates.</span></span><br />
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<span style="font-size: x-large;"><span face=""arial" , "helvetica" , sans-serif"></span></span></div></div>Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-77190701558950317242016-11-06T16:28:00.000-05:002016-11-08T10:47:44.910-05:00Pre Election Special - What’s Really Happening With The US Economy<br />
<span style="clear: left; float: left; font-family: "arial" , "helvetica" , sans-serif; font-size: large; margin-bottom: 1em; margin-right: 1em; text-align: justify;"><img height="122" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgq2xrTRNirxwPjCNv9c3LPkAy7FP_o6BWLL16yFItKBynJbZVntjUCc1j4CDyOx2fkF0WKSlJ0Ge28yVULb2dCoT8m1RjZUMkLW_cnqjNbq7HGzwKdE2eHbnEqahGePaK4Nh6oSuGhacAB/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" width="200" /></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">As a former full time trader on the NYSE and NASDAQ, I'm surprised an important observation on our economy has not been discussed openly in the financial news media. Most of my compatriots in the semiconductor industry are avid statisticians and share similar backgrounds in statistical process control, business planning and economic forecasting. However, I suspect many have not have seen data on the velocity of our economy (I've not seen this discussed). Here's the problem in plain sight (if you know where to look). The M2 money supply is steadily increasing as the Federal Reserve attempts to stimulate the economy.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">See the FRED M2 Money Supply chart below:</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">(click on chart to enlarge)</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">Source: Federal Reserve Economic Data</span></div>
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<br /> As the money supply is increasing, its velocity is decreasing and headed for a crash (this phenomenon is not being discussed). What is velocity? The M2 velocity is the rate at which money changes hands. Currently, when consumers receive a pay check, most earnings stay in the bank after essential monthly bills are paid. Velocity increases with discretionary spending; the purchase of consumer goods, dining out, entertainment etc. (these activities stimulate the economy and velocity). The M2 Velocity is in an alarming dive as consumers continue to loose more of their discretionary income. The bulk of the money supply increase is being consumed by Wall Street which explains the rise in the stock market and the decline of middle class (and low income) households. As such, there is no real economic recovery in progress as reality is being masked by Wall Street prosperity. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;">See the FRED M2 velocity chart below:</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><br /> We continue to see news stories about Wall Street gains along with monthly cheers for small, incremental increases in the employment rate while puzzling over our economic stagnation. The Obama administration recently ceased the publication of the complete scale of unemployment data publishing only the U3 component which approximates 4.9%. The current, actual U6 unemployment component which totals all unemployed and those who would like to work, approximates 9.5% (see the Bureau of Labor Statistics Table A-15 for the full data set which is still published) . With almost 10% of our nation unemployed we have a serious problem. Federal Reserve Chair Janet Yellen correctly observed and reported the unemployment dilemma immediately after taking office. Interestingly, I've not seen her discuss the M2 Velocity problem. The economy is stalled like an airplane with insufficient speed to remain airborne. As the inflation rate is in single digits, Yellen is reluctant to raise interest rates for fear of stalling the M2 velocity further and crashing our consumer economy even though Wall Street continues to benefit from the economic stimulus of the M2 money supply. Click <a href="http://www.bls.gov/news.release/empsit.t15.htm">here</a> to see the current (complete) unemployment data chart from the US Bureau of Labor Statistics.Obama Care has crippled the economy, placing greater financial burdens on employers and individuals alike by discouraging the hire of new, full time employees and increasing health care insurance premiums and deductibles. We need to restore a competitive economic environment (on many fronts) and secure full employment for all Americans if we are to again achieve economic prosperity for our nation. For more Federal Reserve Economic Data (FRED) visit <a href="https://fred.stlouisfed.org/%C2%A0" target="_blank">https://fred.stlouisfed.org/ </a></span></div>
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<span style="font-family: arial, helvetica, sans-serif; font-size: x-large;">Be sure to vote on November 8.</span><br />
<span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;"><br /></span><b><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;">Corrections and clarification:</span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;"><br /></span></b><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;"><br /></span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;">In reviewing this post I must correct/clarify/qualify my excerpted statements below:</span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;"><br /></span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;"><br /></span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;">“<i>Currently, when consumers receive a pay check, most earnings stay in the bank after essential monthly bills are paid</i>.”</span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;"><br /></span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;"><br /></span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;">“<i>The M2 Velocity is in an alarming dive as consumers continue to loose more of their discretionary income</i>.”</span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;"><br /></span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;"><br /></span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;">While the M2 is in an alarming dive, the fact is that currently reported FRED data indicates an incremental increase in discretionary income and consumer spending. I made the above statements based on widely reported observations and anticipation that discretionary income will likely decrease given the anticipated FY 2017 increase in costs for Obama care and related health care insurance for consumers. </span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;">While these observations may prove to be true if health care expenses increase next year as anticipated, we must use currently available data for discussion purposes. FRED defines M1 and M2 velocity data as follows:</span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;"><br /></span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;"><br /></span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;">“The velocity of money is the frequency at which one unit of currency is used to purchase domestically produced goods and services within a given time period. In other words, it is the number of times one dollar is spent to buy goods and services per unit of time. If the velocity of money is increasing, then more transactions are occurring between individuals in an economy. The frequency of currency exchange can be used to determine the velocity of a given component of the money supply, providing some insight into whether consumers and businesses are saving or spending their money. There are several components of the money supply,: M1, M2, and MZM (M3 is no longer tracked by the Federal Reserve); these components are arranged on a spectrum of narrowest to broadest. Consider M1, the narrowest component. M1 is the money supply of currency in circulation (notes and coins, traveler’s checks [non-bank issuers], demand deposits, and checkable deposits). A decreasing velocity of M1 might indicate fewer short term consumption transactions are taking place. We can think of shorter term transactions as consumption we might make on an everyday basis. The broader M2 component includes M1 in addition to saving deposits, certificates of deposit (less than $100,000), and money market deposits for individuals. Comparing the velocities of M1 and M2 provides some insight into how quickly the economy is spending and how quickly it is saving.”<br /> </span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;"><br /></span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;">Source: Federal Reserve Bank of St. Louis, Velocity of M2 Money Stock [M2V], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/M2V, November 8, 2016.</span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;"><br /></span><br />
<span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;">My apologies for any confusion concerning this data.</span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;"><br /></span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;"><br /></span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;">Thomas D. Jay 11/8/2016</span><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-large;"><br /></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><b>Thomas D. Jay<br />Semiconductor Industry Consultant</b><br /><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com</a><br /><a href="https://thomasdalejay.blogspot.com/">https://ThomasDaleJay.blogspot.com</a><br /><a href="http://www.youtube.com/channel/UC8T5Lc8XntcOTYqgXLJbwig/featured">Thomas D. Jay YouTube Channel</a><br /><br />Visit my new Amateur Radio blog at:<br /><a href="http://www.wa2hxr.blogspot.com/">www.WA2HXR.blogspot.com</a><br /><br /><a href="http://www.linkedin.com/in/thomasdjay/"><img src="https://static.licdn.com/scds/common/u/img/webpromo/btn_myprofile_160x33.png" /></a><br /><br /><a href="https://www.youtube.com/watch?v=vIiqAcGr614"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSWMtKeYNfjOtSoiP7siExh7qOgNlFKiS95eTocjrJHRyvhH8OFJxZftwFImbGmBt45OICDcSOQGcwl9o67XAcmSn0GFmSkCQjjSt3-oA1JaxUdhjfweu5JrIMuF8Mq9-9n738Q5Vv8yU7/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" /></a><br /><br /><br /><a href="http://www.spie.org/"><img border="0" height="69" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeHeggTQb8DABoIOiCiAFoAIakJ6M7QVtyDn-NZLwWyzlQbI6t49GoPqTppTafjbir9sEj8jtwaSX7yBlceLgMLd4kBIyF6zBYFA_uEC9K9DkirCg7E_BQFsBMgRkM5fQDxwb8iDEnm23f/s200/SPIE-logo-reverse.png" width="200" /></a></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large; font-weight: normal;">Corporate, private entities or publications referenced or linked in this article are the respective owners of their logos, trademarks, service marks, media content and intellectual property. Unless otherwise disclosed, Thomas D. Jay has no financial interest in companies referenced in blog articles or other published media communications. Thomas D. Jay is not a registered financial advisor. No representation is made to either buy or sell securities. Opinions expressed by Thomas D. Jay are his own. Thomas D. Jay does not employ or otherwise utilize/authorize third party agents to express his opinions, represent his interests or conduct business on his behalf except where formally contractually designated. Thomas D. Jay does not agree to indemnify or hold harmless vendors, clients or third parties to related contractual agreements and reserves the right to applicable legal remedies in lieu of arbitration. These terms are subject to change. Concerned parties should check this blog site for periodic updates.</span></h2>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-large;"><span style="color: #6fa8dc;">Acknowledgments and Reference Links</span><br /><br />Federal Reserve Economic Data (FRED) web site. <a href="https://fred.stlouisfed.org/">https://fred.stlouisfed.org/</a><br /><br />US Bureau of Labor Statistics Table A-15 Unemployment Data <a href="http://www.bls.gov/news.release/empsit.t15.htm">http://www.bls.gov/news.release/empsit.t15.htm</a></span></div>
Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-89164210646906869402016-06-21T18:07:00.001-04:002020-10-16T18:42:01.220-04:00Future EUV/FEL Strategy – The Beam Line Approaches<div align="left" class="western" style="margin-bottom: 0in; orphans: 2; widows: 2;">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgq2xrTRNirxwPjCNv9c3LPkAy7FP_o6BWLL16yFItKBynJbZVntjUCc1j4CDyOx2fkF0WKSlJ0Ge28yVULb2dCoT8m1RjZUMkLW_cnqjNbq7HGzwKdE2eHbnEqahGePaK4Nh6oSuGhacAB/s1600/TDJ_TechnologyGroupLogo_01_21_2013.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="121" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgq2xrTRNirxwPjCNv9c3LPkAy7FP_o6BWLL16yFItKBynJbZVntjUCc1j4CDyOx2fkF0WKSlJ0Ge28yVULb2dCoT8m1RjZUMkLW_cnqjNbq7HGzwKdE2eHbnEqahGePaK4Nh6oSuGhacAB/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" width="200" /></a><span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">As many of you know, I've been following the progress of EUV lithography over the years, observing and commenting on the program's many engineering successes as well as the delays in the convergence of EUV lithography and the anticipated HVM time line (High Volume Manufacturing). In spite of improvements in laser technology and the availability of low dose photoresists, the development of high power LPP (Laser Produced Plasma) EUV source technology >100 watts remains problematic. EUV HVM insertion remains elusive and unpredictable. The source power limitations and MTBF (Mean Time Between Failure) of LPP technology have gated the program. A few years ago many in the SPIE community sought to explore the potential of a FEL source for high power EUV applications. At the time, <a href="http://en.wikipedia.org/wikifree-electron_laser">Free Electron Laser</a> [1] Technology was not yet a topic for dinner table discussion so in September, 2014 I published <a href="http://thomasdalejay.blogspot.com/2014/09/future-feleuv-strategy-light-at-end-of.html">Future FEL/EUV Strategy – The Light at the End of the Beam Line</a>. [2] On-going FEL developments at SLAC and recent related commentary from companies like GLOBALFOUNDRIES have generated new interest in FEL technology. As many new engineers and investors have joined our ranks, I thought a more comprehensive review was in order, so I've excerpted portions of my 1994 primer on FEL/EUV strategy to point out the enabling feature/benefits of a high power, high reliability light source for EUV lithography.</span></span><br />
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<b><span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">What are the current obstacles to high power EUV?</span></span></b></div>
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">In ASML's current LPP source designs, a solid state "pre-pulse" laser and a second, high energy CO2 laser are fired at micron sized tin (Sn) pellets, evaporating them and releasing EUV light as a byproduct. Knowledgeable sources have informed me that the currently employed CO2 lasers are at or near the maximum of their pulse rate capabilities, effectively limiting further power output. As more CO2 laser power becomes available, there may still be practical limitations on the scaling and feed rate of Sn (tin) target material. As determined by physics, the inherent energy conversion factor for tin approximates 4%, and further incremental improvements in efficiency are obtained with diminishing returns. Assuming additional laser power becomes available for ASML, further complications can result from higher LPP source power levels as the rate of residual particulate contamination from evaporated tin increases in approximate proportion with increased laser power. Critical beam line mirror surfaces and other source components rapidly lose their efficiencies as tin contamination accumulates, reducing the available up time of the stepper (MTBF). It was originally anticipated that an optimal LPP EUV source design would provide 13.5nm light at power levels >200 watts, providing current and future lithography requirements. However, more recent demands for even higher EUV power levels have been identified. <a href="http://proceedings.spiedigitallibrary.org/proceeding.aspx?articleid=2208413">ASML and Carl Zeiss acknowledged in an invited paper at SPIE Advanced Lithography 2015, that higher resolutions will require 60mJ/cm2 for half pitch nodes <8nm</a>. [3] ASML's recent (2015) collaboration with Carl Zeiss has produced an optical system with a numeric aperture (NA) of 0.55 vs. ASML's current EUV NA of 0.33. The higher NA system will require 500 watts of EUV power to achieve the estimated 60 mJ/cm2 dosimetry required for throughput of 150 wafers/hour. While this concept extends the viability of 13.5nm lithography, the delivery of a reliable 500 watt EUV source remains a critical item on the agenda, meaning the availability of free electron laser technology will probably gate related programs. A recent article appearing in the SPIE News Room, <a href="http://spie.org/newsroom/6323-extending-extreme-uv-lithography-technology">Extending extreme-UV lithography technology</a>, [4] suggests that power levels of 500 – 1000 watts may be required for a single stepper necessitating a large scale central source EUV FEL.</span></span><br />
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<b><span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">A Primer on Free Electron Lasers</span></span></b></div>
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">What is a free electron laser and how is it different from conventional lasers and LPP systems? To answer this question we must entertain the convergence of the US DOE's high energy physics community with the semiconductor industry and discuss recent innovations in technology. In previous and current generation stepper and scanner systems, it's been common to utilize laser light sources producing the desired wavelengths required for semiconductor photolithography. In current 193nm lithography systems, an argon fluoride (ArF) laser produces the light. The laser light produced is monochromatic, of sufficient brilliance and provides many hours of trouble free uptime. It would seem this simplistic approach might be applied to EUV lithography. Why not build an EUV laser with a wavelength of 13.5 nanometers? This has not been possible due to limitations in physics. The highly reflective optics required for laser efficiencies have yet to be created for EUV spectra. Current Bragg cell mirrors reflect EUV with a closely approximated 90% efficiency. However, FEL is a game changer. Some history and an analogy:</span></span><br />
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">The term LASER is an acronym for Light Amplification by Stimulated Emission of Radiation. <a href="http://en.wikipedia.org/wiki/Laser#History">The first solid state, 694nm synthetic ruby laser produced at Hughes Research in 1960</a>, [5] utilized xenon flash lamps to inject high energy photons throughout the core of a ruby rod, stimulating the emission of photons from its lattice structures. Lasers operate at specific wavelengths which are determined by the seed (or lazing) material's inherent spectral signature. The 694nm wavelength is derived from the band gap emissions of the ruby's crystalline composition. We might compare the ruby crystal in this laser with a quartz crystal in a radio which determines its operational frequency. Accordingly, we might otherwise assign “channel I” as an identifier of I-line photolithography operating at 365nm.</span></span><br />
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<b><span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">The Foundation Physics of FEL</span></span></b></div>
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> </span></span><b><span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">A Radio Logical Analogy</span></span></b><br />
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">A radio transmitter's frequency has historically been controlled by quartz crystal elements. Y-cut quartz crystals oscillate (vibrate) at specific frequencies which are dependent upon their thickness. The thinner the crystal, the higher the frequency obtained. Inversely, the thicker the crystal, the lower the frequency obtained. Passing an electric current through a quartz crystal induces it to oscillate at its inherent resonant frequency, so determined by its thickness. The frequency produced is extremely stable and the resulting wave form is of high purity, providing an excellent medium for control of radio frequencies and instrumentation. Crystals also produce harmonic frequencies. A harmonic is a multiple of the crystal's fundamental resonant frequency. As such, a crystal oscillating at 3 MHz will also produce a weaker signal at 6MHz (its second harmonic frequency), and a still weaker third harmonic at 9MHz and so on. When impractical to manufacture crystals at their desired fundamental frequencies, "third overtone" crystals are often utilized to provide a harmonic frequency which can be sufficiently amplified and utilized as an effective fundamental frequency, thus extending the upper limits (and our usage) of the radio spectrum. Even with clever engineering, over the years radio frequency control became problematic as multi-channel communication systems evolved, requiring large banks of crystals to span a given range of frequencies; one crystal required for each channel frequency. Rather than utilize thousands of crystals to span the radio spectrum, communications equipment evolved to employ a frequency control device called a VFO: a Variable Frequency Oscillator. In this scenario, several fundamental frequency crystals and specially designed varactor diode/phased locked loop circuits comprise a heterodyne oscillator, sometimes known as an IF (Intermediate Frequency) mixer. Such an oscillator can generate a wide range of possible frequency combinations by mixing (heterodyning) the output obtained from the crystals to produce the desired sum/difference of their frequencies by way of constructive or destructive interference. As a VFO radio tuning dial is manipulated, it changes one of the mixing frequencies to produce the desired sum/difference operational frequency for both transmitter and receiver. The advantage to such a design is the elimination of separate transmitter/receiver controls, and thousands of individual crystals normally assigned for each desired radio channel. The conceptual use of both harmonic and sum/difference frequency synthesis has found its way into many applications in physics and electronics.</span></span><br />
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<b><span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Free Electron Laser Fundamentals</span></span></b></div>
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Imagine that we might adjust and control a laser's wavelength using a concept similar to a radio's Variable Frequency Oscillator but with a different set of physics. By electronically tuning a laser's wavelength, we can eliminate the need for specialized crystalline, gaseous or other lazing materials and operate outside the spectral wavelength segments they are physically limited to. FEL technology can produce tunable wavelengths of light throughout the microwave, visible spectrum and x-ray regime. <a href="http://en.wikipedia.org/wiki/Free-electron_laser">A free electron laser</a> is comprised of a large beamline/electron source which accelerates electrons to near the speed of light. On opposite sides of the electron beam line are interposed field coils of opposing polarity called undulators or "wigglers", which when energized establish a transverse sinusoidal field across the beam path. Electrons accelerated into the transverse field produce incoherent photons in a mixed assortment of sinusoidal wavelengths sometimes referred to as “bunches”, emitting photons at wavelengths determined by their acceleration and the transverse field strength (synchrotron radiation). By adjusting the electron beam energy or the magnetic field strength of the undulators, the wavelength of the emitted photons can be tuned selectively to produce coherent light. Variations on this concept have evolved as follows:</span></span><br />
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<b><span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">A Tunable SASE FEL</span></span></b></div>
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> A SASE FEL is able to produce laser light over a broad range of spectrum without the requirement for conventional lazing materials such as ruby crystal or argon fluoride etc. In a tunable SASE (Self Amplified Spontaneous Emission) FEL, high energy source electrons passing through an undulator can produce an assortment of incoherent photons (initially at randomly different wavelengths) which become bunched in the transverse sine wave and interact via constructive or destructive interference, producing incidental derivative wavelengths (spontaneous emission). That is to say the bunched photons add and subtract their wavelength values from one another producing new sum/difference valued photons at the mathematically resulting wavelengths. When tuned to a specific wavelength of interest by adjusting the electron beam energy or the magnetic field strength of the undulators, such subsequently produced photons arrive in phase (at the same wavelength) and cumulatively intensify to release high energy coherent laser light (self amplification). While a very useful concept for a variety of applications, the spontaneous emission in a SASE FEL can propagate statistical artifacts resulting from the inherent mathematical sum/difference phenomenon, and consequently can produce a beam exhibiting limited shot to shot reproducibility. As such, the utility of a SASE FEL might be limited in applications which require extremely accurate dosimetry. The limited shot to shot reproducibility might also contribute to the dosimetry phenomenon known as “shot noise”.</span></span><br />
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<b><span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">A Tunable HGHG FEL</span></span></b></div>
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">FEL performance can be modified and improved by utilizing an external seed laser as a source wavelength. The seed laser is a conventional laser utilizing a material such as ruby crystal (one example) to produce a monochromatic feed source of photons. In an HGHG (High Gain Harmonic Generation) FEL, the seed laser interacts with the electron beam as it propagates through the first undulator (called a modulator), tuned to the seed laser's wavelength. The resulting interaction with the seed laser induces coherent modulation of the electron beam energy, creating photon bunching as well as consequential harmonic propagation (photons which are the mathematical multiples of the seed laser's wavelength). The micro-bunched beam of photons are then injected into a long undulator tuned to the desired harmonic wavelength. The desired wavelength comprised of harmonically produced photons arrive in phase and cumulatively intensify to release high energy coherent light at the newer, shorter wavelength of interest. A recent FERMI paper illustrates 500 shot reproducibility of 8th harmonic spectra at 32.5nm (obtained from a 260nm seed laser) exhibiting normalized photon/energy stability in the order of 7x10^-5 (root mean square), a marked improvement over previous SASE FEL data obtained over the same photon energy range. The high purity monochromatic spectra of an HGHG seed laser improves the system's shot to shot repeatability as its mode of operation does not incur the statistical deviation phenomena found in spontaneous emission spectra typically observed in a SASE FEL. As such, an HGHG FEL might be more advantageous for use in EUV applications requiring highly precise dosimetry, possibly reducing shot noise phenomenon. </span></span><br />
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<b><span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">The EUV Source Challenge Ahead</span></span></b></div>
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Large scale projects are underway to build FEL systems to accommodate a wide range of wavelengths and scientific applications. FEL is next generation laser technology which is perhaps the best candidate to replace the LPP/EUV source designs currently offered by ASML.</span></span><br />
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"></span><span style="font-family: "arial" , "helvetica" , sans-serif;">Known for its work in actinic inspection at the 13.5 nm EUV wavelength,<a href="http://www.cxro.lbl.gov/"> </a><a href="http://www.cxro.lbl.gov/">Lawrence Berkeley CXRO Lab</a> [6] is also part of a DOE consortium currently working on LCLS-II <a href="http://www.slac.stanford.edu/pubs/slacreports/reports19/slac-r-978.pdf">(Linac Coherent Light Source-II) [7]</a> at Lawrence Livermore and SLAC. Last June at the 2015 International Workshop on EUV Lithography in Maui, Aaron Tremaine of SLAC presented a comprehensive review of possible FEL designs that might be considered for EUV lithography and identified the consortium of DOE laboratories participating in the EUV FEL program. The Who's Who list of DOE participants includes SLAC, Lawrence Berkeley National Labs, Fermilab, Argonne National Lab, Cornell, UCLA, RadiaBeam, AES and Radiasoft. In order to appreciate the scale and capital intensity of this project it becomes necessary to review Aaron Tremaine's 2015 EUV Litho, Inc. Workshop presentation, <a href="http://euvlitho.com/2015/P44.pdf">LCLS-II and Free electron laser drivers for EUV Lithography [8]</a>. The report describes FEL design considerations and recommends a “Straight Shooter” beamline configuration for semiconductor EUV lithography applications. The report addresses Erik R. Hosler's (GLOBALFOUNDRIES) 2015 SPIE publication, “Considerations for a free-electron laser based extreme-ultraviolet lithography program”, (Proc. of SPIE Vol. 9422, 94220D, 2015). The good news is that <a href="http://sbfel3.ucsb.edu/www/vl_fel.html">many new FEL programs are in progress</a> [9] and the LCLS-II at SLAC might provide a viable, solution for HVM/EUV lithography. More recently, visible collaboration between GLOBALFOUNDRIES and SLAC has established the ground work for possible in-fab FEL source designs. The subsequent challenge for any future FEL/EUV initiative, is that once again the convergence of the semiconductor industry and our national laboratory community will be required to deliver future lithography source technology for EUV and beyond.</span></span><br />
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> ASML has taken the lead in providing viable interim EUV technology permitting the characterization of materials, resists, masks and process precision required for future generation lithography. Double patterning techniques utilizing 193i lithography will continue to enable CDs =<10nm. We can also speculate how 13.5nm multiple patterning might enable future nodes and continued process development. In the interim, the current ASML LPP/EUV initiative has enabled the ground work our industry requires for future precision nanometer scale lithography.</span></span><br />
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Let's continue working together to secure next generation EUV and the preservation of Moore's Law.</span></span><br />
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">During the course of researching this a<span style="font-family: "arial" , "helvetica" , sans-serif;">rticle I digested many components of the SLAC Conceptual Design <span style="font-family: "arial" , "helvetica" , sans-serif;">Report for the LCLS<span style="font-family: "arial" , "helvetica" , sans-serif;">-II (Linear Coherent Light Source)<span style="font-family: "arial" , "helvetica" , sans-serif;">. Among many, <span style="font-family: "arial" , "helvetica" , sans-serif;">t</span>wo components of the LCLS-II are the SXR (Soft X-<span style="font-family: "arial" , "helvetica" , sans-serif;">Ray) and HXR (Hard X-Ray) undulators and their respective beam lines. It is with some amusement that my FCC designated amateur radio call sign is WA2HXR<span style="font-family: "arial" , "helvetica" , sans-serif;"> which I acquired in 1970. It should be noted that my amateur radio operations are restric<span style="font-family: "arial" , "helvetica" , sans-serif;">ted to applicable licensed amateur radio<span style="font-family: "arial" , "helvetica" , sans-serif;"> frequency </span>spectra <span style="font-family: "arial" , "helvetica" , sans-serif;">which </span>excludes X-Ray wavelengths. </span></span></span></span></span></span></span></span></span><br />
<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif;">CQ SLAC CQ SLAC CQ SLAC DE WA2HXR K. </span> 73 </span> </span></span></span></span></span></span></span> <br />
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="https://drive.google.com/open?id=0B4R-TCBqrQHaS041N3lkZVRsRmc" target="_blank">Click here to download this article</a>.</span></span><br />
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<b><span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Thomas D. Jay </span></span></b><br />
<b><span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> Semiconductor Industry Consultant</span></span></b><br />
<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> <a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com </a></span></span><br />
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<span style="font-size: large;"><span style="color: cyan; font-family: "arial" , "helvetica" , sans-serif;"> <b><span style="color: cyan;"><span style="color: cyan;"><span style="color: #6fa8dc;"><span style="color: #0b5394;">Acknowledgments and Reference Links</span></span></span></span></b></span></span><br />
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">[1] <a href="http://en.wikipedia.org/wikifree-electron_laser">Free Electron Laser</a></span></span><br />
<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Wikipedia</span></span><br />
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">[2] <a href="http://thomasdalejay.blogspot.com/2014/09/future-feleuv-strategy-light-at-end-of.html">Future FEL/EUV Strategy – The Light at the End of the Beam Line</a></span></span><br />
<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Thomas D. Jay, Blog Publication, September 20, 2014</span></span><br />
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">[3] <a href="http://proceedings.spiedigitallibrary.org/proceeding.aspx?articleid=2208413">ASML and Carl Zeiss acknowledged in an invited paper at SPIE Advanced Lithography 2015, that higher resolutions will require 60mJ/cm2 for half pitch nodes <8nm</a></span></span><br />
<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">SPIE Proceedings</span></span><br />
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">[4] <a href="http://spie.org/newsroom/6323-extending-extreme-uv-lithography-technology">Extending extreme-UV lithography technology</a></span></span><br />
<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">SPIE News Room, Erik R. Hosler, Obert R. Wood II, Moshe E Preil</span></span><br />
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">[5] <a href="http://en.wikipedia.org/wiki/Laser#History">The first solid state, 694nm synthetic ruby laser produced at Hughes Research in 1960</a></span></span><br />
<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Wikipedia</span></span><br />
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">[6] <a href="http://www.cxro.lbl.gov/">Lawrence Berkeley CXRO Lab</a></span></span><br />
<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Lawrence Berkeley National Labs CXRO Web Site</span></span><br />
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">[7]<a href="http://www.slac.stanford.edu/pubs/slacreports/reports19/slac-r-978.pdf"> </a><a href="http://www.slac.stanford.edu/pubs/slacreports/reports19/slac-r-978.pdf">Linac Coherent Light Source-II</a></span></span><br />
<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Stanford Linear Accelerator Web Site</span></span><br />
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">[8] <a href="http://euvlitho.com/2015/P44.pdf">LCLS-II and Free electron laser drivers for EUV Lithography </a></span></span><br />
<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> Aaron Tremaine Presentation, SLAC</span></span><br />
<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">EUV Litho, Inc. Web Site, 2015 Program, Maui</span></span><br />
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">[9] <a href="http://sbfel3.ucsb.edu/www/vl_fel.html">many new FEL programs are in progress</a></span></span><br />
<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">University of California, Santa Barbara FEL Web Site</span></span><br />
<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Site Maintained by G. Ramian </span></span><br />
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Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-84260974385963635672015-12-18T11:47:00.001-05:002016-08-05T20:07:51.375-04:00A Photonic Finish to the International Year of Light 2015 (updated)<div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">The month of December 2015 concludes UNESCO's proclaimed International Year of Light. The National Photonics Initiative and its affiliates have sponsored and coordinated many educational and cultural programs during the year, all of them focused on the impact light based technologies have made on our social/global population.</span></div>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br />As we conclude 2015 in the weeks ahead, we might pause to behold our handy work. Those of us in the semiconductor industry and broader electronic market place have delivered a multitude of miracles worth mention. New break throughs in LED/OLED and AMOLED display technologies have yielded 4K HD video resolution, four times the resolution of the 1080P video we thought so revolutionary. Quantum Dots are now being mass produced, extending both the efficiency and spectrum of available colors. Hang on, 16K HD video is not far down the road. Resultingly, our global Internet must be upgraded rapidly to accommodate throughputs required for bandwidth intensive applications.<br /><br />IBM [1] and Intel's CL4 Alliance [2] will soon provide on-chip silicon photonic routers and switches to boost the speed and efficiency of server farms and cloud infrastructure. New techniques in the manufacture of optical fiber have boosted propagation speeds approaching 99% the velocity of light. [3] High power lasers with femtosecond pulse rates are enabling advanced imaging techniques.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Aixtron [4] and Veeco Instruments, Inc. [5] continue as key enabing equipment suppliers of MOCVD and related technologies for the manufacture of LEDs as the growth curve for this market segment continues.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">On the semiconductor front, EUV progress at ASML [6] remains stalled until a more powerful source is developed. Although pilot line and limited production runs are possible, available up time remains problematic. In the interim, 193nm steppers will enable multiple patterning techniques. While viable, multiple patterning is a more costly path to nanometer scale lithography. Work continues on many fronts to enable increasingly demanding lithography requirements.<br /><br />That said, the new year is rapidly approaching and we might shift gears to observe our handy work enabling its celebration. Everyone enjoys a great light show and new years eve is a great opportunity to show off the latest in illumination technology. High intensity LEDs and lasers have enabled large scale video display screens and special effect lighting while high power xenon strobes have become the norm. A company called Martin [7] manufactures a 3 kilowatt xenon strobe which can be mounted in arrays. Each strobe is numerically bus addressable and can be controlled by a master computer which "manages" the light show. When the strobes are integrated along side high intensity LEDs and video panels the resulting visual display is stunning and must be seen to be appreciated.<br /><br />A great demonstration of these technologies took place at the Ultra Music Festival, an annual international event held in Miami during March of this year (2015). A segment of the festival featured a musical program by Armin van Buuren, an award winning Dutch pop music composer and DJ. During his performance Armin is perched on top of an enormous stage structure of metal girders and beams housing a monstrous array of high intensity LEDs and video displays. Arrays of Martin's Atomic 3000 DMX high intensity strobes are added to the mix. The strobes are so powerful that safety precautions must be observed at close quarters. In close proximity a three thousand watt xenon flash can cause burns and start fires. When the strobes are combined in cluster arrays the effect is multiplied but their remote positioning on the stage's superstructure assures the safety of the audience. I wondered what the EUV output might be (but I digress). I studied images of the festival on YouTube and estimated the power requirement for the lighting and sound systems on the massive stage must easily approach megawatt scaling.<br /><br />The light show accompanying Armin van Buuren's performance at the Ultra Music Festival was nothing short of a super nova. Armin combined his many pop music compositions with improvised programming unique to the festival, all of which was synchronized with a computer system controlling the accompanying lighting and video effects. On stage, Armin can be seen wearing large black wrist bands on his forearms. The wrist bands are actually near field sensors which track the movement of his arms enabling him to physically control lighting effects during the show. Armin can be seen "pointing" beams of light into the crowd below. Later his arm motions direct waves of light and energy bolts over the massive stage and video screens. The best way to visualize what I'm describing is to <a href="https://youtu.be/PbfSULQV9co" target="_blank">watch Armin's Miami Ultra Music Festival performance on UMF TV as featured on YouTube</a>. [8] Equally impressive is Dash Berlin's 2015 performance at the <a href="https://youtu.be/5YfWoVnAS_I" target="_blank">Ultra Music Festival in Tokyo</a> [9]. Best viewing of the festival experience requires a large screen HD display with a good low end performance sound system or head phones. Ultra Music Festival composures are referred to as "Trance Music" and for good reason. The bolts of sound and light are energizing and soon have everyone partying in a trance like state of euphoria. As for a new years celebration, I can't think of a better photonic finish to 2015 than the Ultra Music Festival in Miami earlier this year. During your off time over the holiday and new year, give it a look/listen on YouTube. The video's run time approximates 54 minutes</span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"> and fits nicely in any one's holiday break schedule (it gets frequent rerun on my play list).</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br />As we know, science fiction more frequently becomes science fact. The future's bright and you're gonna need shades.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><a href="https://youtu.be/8LiOLTbxB-o" target="_blank">Happy new year every one!</a></span><br />
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Thomas D. Jay<br />Semiconductor Industry Consultant</b><br /><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com </a><br /><a href="http://www.thomasdalejay.com/">www.ThomasDaleJay.blogspot.com</a><br /><a href="http://www.youtube.com/channel/UC8T5Lc8XntcOTYqgXLJbwig/featured">Thomas D. Jay YouTube Channel</a></span></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Visit my new Amateur Radio blog at:</span><br />
<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="http://www.wa2hxr.blogspot.com/" target="_blank">www.WA2HXR.blogspot.com</a></span></span><br />
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<b><span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="color: #3d85c6;">Acknowledgements and Reference Links</span></span></span></b><br />
<b><span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="color: #3d85c6;"><br /></span></span></span></b>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[1] <a href="https://www-03.ibm.com/press/us/en/pressrelease/46839.wss">https://www-03.ibm.com/press/us/en/pressrelease/46839.wss</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">IBM Press release, IBM web site May 12, 2015</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br />[2] <a href="http://www.pcworld.com/article/2879152/intel-delays-part-for-highspeed-silicon-photonic-networking.html">http://www.pcworld.com/article/2879152/intel-delays-part-for-highspeed-silicon-photonic-networking.html</a><br />PC World web site, Agam Shah, IDG News Service<br />February 2, 2015</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[3] <a href="http://www.nature.com/nphoton/journal/v7/n4/full/nphoton.2013.45.html">http://www.nature.com/nphoton/journal/v7/n4/full/nphoton.2013.45.html</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Nature Photonics</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[4] Aixtron</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><a href="http://www.aixtron.com/">www.aixtron.com</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[5] Veeco Instruments, Inc.</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><a href="http://www.veeco.com/">www.veeco.com</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[6] ASML</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><a href="http://www.asml.com/">www.ASML.com</a></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[7] Martin Atomic 3000 DMX</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><a href="http://www.martin.com/en-us/product-details/atomic-3000-dmx">http://www.martin.com/en-us/product-details/atomic-3000-dmx</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[8] Armin van Buuren live at Ultra Music Festival Miami 2015 UMF TV</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><a href="https://youtu.be/PbfSULQV9co">https://youtu.be/PbfSULQV9co</a></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[9] Dash Berlin live at Ultra Music Festival Tokyo UMF TV</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><a href="https://youtu.be/5YfWoVnAS_I">https://youtu.be/5YfWoVnAS_I</a></span><br />
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Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-9408667805739540072015-05-28T10:55:00.000-04:002016-06-10T15:08:48.582-04:00Silicon Photonics in the Year of Light<br />
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<a href="https://www.youtube.com/watch?v=vIiqAcGr614" target="_blank"><img alt="https://www.youtube.com/watch?v=vIiqAcGr614" border="0" height="121" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSWMtKeYNfjOtSoiP7siExh7qOgNlFKiS95eTocjrJHRyvhH8OFJxZftwFImbGmBt45OICDcSOQGcwl9o67XAcmSn0GFmSkCQjjSt3-oA1JaxUdhjfweu5JrIMuF8Mq9-9n738Q5Vv8yU7/s200/TDJ_TechnologyGroupLogo_01_21_2013.jpg" width="200" /></a></div>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">As we celebrate UNESCO's International Year of Light 2015, it is with some irony that earlier this month <a href="https://www-03.ibm.com/press/us/en/pressrelease/46839.wss" rel="nofollow" target="_blank">on May 12, 2015 IBM announced</a> [1] it had fully fabricated and tested an integrated wavelength, multiplexed 100 Gb/sec silicon CMOS nano-photonic optical tranceiver chip whose design concept was <a href="https://www-03.ibm.com/press/us/en/pressrelease/33115.wss" rel="nofollow" target="_blank">first announced in December 2010</a> [2]. IBM's effort is echoed by consortiums of major players in the semiconductor industry, all in hot pursuit of <a href="http://en.wikipedia.org/wiki/Silicon_photonics" rel="nofollow" target="_blank">silicon photonics</a> [3] technology, and for good reason. <a href="http://electronics.wesrch.com/paper-details/press-paper-EL1GP94JCLEHH-silicon-photonics-market-worth-497-53-million-by-2020" rel="nofollow" target="_blank">The silicon photonics market is estimated to be worth $975 Million by the year 2020</a><span style="color: red;"> </span>[4]. Key players in this market include IBM, Intel Corporation and the CLR4 Innovators, PETRA (Japan's Photonics Electronics Technology Research Association), Hamamatsu Photonics, Finisar Corporation, Luxtera, Inc., ST Microelectronics, 3S Photonics, Oclaro Inc., Mellanox technologies, and Infinera Inc. The <a href="http://www.ofcconference.org/en-us/home/about/" rel="nofollow" target="_blank">Optical Fiber Communication Conference and Exposition</a> (OFC) [5] took place in Tokyo in March this year where many of these companies presented reports on their silicon photonic technologies.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">IBM's recent announcement places emphasis on its compact device package and process proven fabrication techniques which will enable larger scale manufacturing of the devices for use in cloud computing and data centers in anticipation of “Big Data” network scaling. While IBM's most recent announcement is coincident with the International Year of Light, silicon photonics have been a glimmer in the eyes of semiconductor engineers for the past thirty years. <a href="https://www.youtube.com/watch?v=KRY53sEXyNI" rel="nofollow" target="_blank">In a recent SPIETV video presentation on silicon photonics, Yurii A. Vlasov of IBM</a> [6] stated that during the past ten years over $1.5 B has been spent in the global quest for light based chip technology. A portion of this investment resulted in an IBM silicon nano-photonic device design in which interconnected beams of wave guided light replace traditional electrical signals carried on copper circuit paths. Data carried by electrical signals on copper circuits propagate at only 66-70% of the speed of light as determined by dielectric properties near conductors and other physical factors. Device design engineers anticipated the day when this speed limitation would slow network server systems, as well as chip to chip intra-device data flow, and eventually singular on chip communications. To most smart phone owners, it's difficult to imagine a scenario in which electrical signals traveling at 66 to 70% of the speed of light becomes a limiting factor in computer chip design and performance, but in a world where global communications servers are linked by fiber optics, satellites and GPS navigation systems, cumulative device delay times have already created bottle necks in our global networks.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Interestingly, many original glass fiber optic cables transported light at about 70% of light's velocity in a vacuum. New research and development in fiber optics and materials have resulted in the fabrication of optical fibers which can transport light at better than 99% of its vacuum velocity (186,282 miles/sec). <a href="http://www.nature.com/nphoton/journal/v7/n4/full/nphoton.2013.45.html" rel="nofollow" target="_blank">New silicon photonic devices are being optimized to provide maximum light velocity</a> [7] while simultaneously implementing WDM (Wave Division Multiplexing) to maximize data speeds and throughput. As such, silicon photonic devices might vary in performance as per the designs of their manufacturers. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Why are silicon photonics important? I'll review some important observations I've made in my November 2013 blog article, “<a href="http://www.thomasdalejay.blogspot.com/2013/11/the-cloud-of-nations.html" rel="nofollow" target="_blank">The Cloud of Nations</a>” [8].</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">On a global scale we observe that in a vacuum, light travels approximately 186,282 miles per second and can circle the earth in 134 milliseconds (about one tenth of a second). If we consider the earth as a large computer, the continents might be compared to microprocessors interconnected by our global Internet, milliseconds apart. If we observe our immediate, personal photometric sphere of existence, we find that in one nanosecond light travels one foot. How precise must our world be?</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><b>Chip Level Clock Skew</b></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">In the metrics of semiconductors nanosecond measurements are woefully imprecise and we must calibrate metrology in picoseconds in order to measure the speed of data traversing millimeter sized computer chips. In the semiconductor industry we refer to differences in data arrival time on a computer chip as clock skew. On a real semiconductor device, electrical signals on copper conductors travel at approximately 66-70% of light speed. An acceptable clock skew range approximating 20 to 200 picoseconds (pico = 10^-12) usually provides acceptable device performance but this specification can vary across device types and circuit designs. For each tick of the chip's master system clock, billions of transistor gates must be switched on and off in precise unison. A microprocessor operating at a 2 gigahertz clock speed must have sufficient temporal uniformity across the device so that the arrival time of gate switching signals are all within an acceptable time window. If the switching signal's arrival time falls outside this window, the microprocessor and the program it's running will crash. Careful design considerations go into device fabrication technique and wafer processing to ensure product and performance quality. </span><span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">More information on computer chip clock skew can be found in the paper “</span><a href="http://infoscience.epfl.ch/record/173534/files/ISCAS_11_1.pdf?version=1" rel="nofollow" style="font-family: Arial, Helvetica, sans-serif;" target="_blank">Skew Variability in 3-D ICs with Multiple Clock Domains</a><span style="font-family: "arial" , "helvetica" , sans-serif;">” [9] Hu Xu, Vasilis F. Pavlidis, and Giovanni De Micheli, LSI - EPFL, CH-1015, Switzerland Email: {hu.xu, vasileios.pavlidis, giovanni.demicheli}@epfl.ch</span></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">As clock speeds increase and device geometries decrease, the <10nm design node will pose additional technical challenges in device timing and data throughput. The evolution of light speed photonic interconnects for on and off chip communication will minimize concerns with clock skew across chips and networks as device structures shrink to critical dimensions (CD) <10nm and become stacked in dense arrays. As the integration of CMOS silicon nano-photonics matures, we may eventually see microprocessors, memory chips and 3D devices structured on photonics instead of conventional copper conductors. In the interim, IBM anticipates that the more immediate advantages afforded by silicon nano-photonic inter-chip speeds could dramatically improve cloud server/network performance, and advance its Exascale super computer initiative which could potentially perform over a thousand times the speed of currently available systems. While the initial focus of silicon nano-photonics targets network centers and cloud servers, the wider proliferation of the technology can profoundly effect our evolving Internet.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">IBM's silicon photonic chip will address concerns across networks as four 25 Gb/sec optical tranceivers operating on as many different wavelengths will combine to provide a throughput of 100Gb/sec. Installed in server systems, these optical chips could dramatically improve data throughput, reducing network latency and clock skew by eliminating delays inherent in copper conductors found in servers and data center network interfacing. Using sub 100nm design rules (typically 90nm), electrical and optical device structures are formed on the same substrate to maximize efficiency. IBM estimates the device's bandwidth can accommodate the transfer of a high definition movie (approximately 1.5 to 2 Gigabytes) in two seconds.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">To achieve maximum bandwidth over distance, most of today's data centers employ Vertical Cavity Surface Emitting Lasers (VCSEL) distributed on multi-mode optical fiber. Remotely located cloud servers have placed new demands on network resources as even larger bandwidths over greater distances are required. To illustrate the importance of IBM's initial 2010 achievement, note that IBM's on-chip silicon photonic wavelength multiplexing emulates the initial success of dense wave multiplexing utilized in early generation fiber optic networks, the major difference being that IBM has achieved this capability at the chip level. Previous dense wave fiber optic implementations utilized bulky hardware to enhance long haul fiber optic bandwidth. In 1998, AT&T researchers transmitted 100 simultaneous optical signals, each at a data rate of 10 gigabits per second over a distance of 400 km utilizing dense wavelength-division multiplexing (DWDM) technology [10], allowing multiple wavelengths to be combined into one optical signal. This technique increased the total data rate on one fiber to one terabit per second. Although IBM's current silicon photonic chip design utilizes 4 discreet channel wavelengths providing 100Gbit/sec, data throughput is scalable and could be configured to accommodate many demanding applications. While IBM's silicon nano-photonic initiative is impressive, significant global competition is not far behind.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><b>Intel's CLR4 Silicon Photonic Initiative</b></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><a href="http://www.intel.com/content/www/us/en/research/intel-labs-silicon-photonics-research.html" rel="nofollow" target="_blank">The silicon photonic initiative is also being pursued by Intel</a> [11] who has helped form a consortium of companies to agree upon product designs and industry standards. <a href="http://www.intel.com/content/www/us/en/research/intel-labs-clr4-adopter-listing.html" rel="nofollow" target="_blank">The CLR4 Innovators</a><span style="color: red;"> </span>[12] are an alliance of 27 companies inclusive of Intel, HP, Dell, MACOM and SEMATECH (see the above CLR4 link for a complete list). </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">In April 2014, Intel outlined its silicon photonic</span><span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> initiative in a </span><a href="http://www.intel.com/content/www/us/en/research/intel-labs-clr4-presentation.html" rel="nofollow" style="font-family: Arial, Helvetica, sans-serif;" target="_blank">presentation</a><span style="font-family: "arial" , "helvetica" , sans-serif;"> [13] which addresses the common requirements of the CLR4. The 100 Gb/sec silicon photonics under development utilizes 4X25 Gb/sec tranceivers which can span 1000 meters to link server centers.</span></span><br />
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Unfortunately, <a href="http://www.pcworld.com/article/2879152/intel-delays-part-for-highspeed-silicon-photonic-networking.html" rel="nofollow" target="_blank">Intel's initiative was set back in February this year as a key component in its silicon photonic module did not meet specifications and quality control standards</a>. [14] The new modules will not ship till the end of 2015 which means they won't be installed till early 2016. Intel's customers (and possibly CLR4 Innovator members) intending to integrate its silicon photonic technology are in a holding pattern till next year.</span></span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><b>PETRA's Silicon Photonic Demonstration</b></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Japan's Photonics Electronics Technology Research Association (PETRA), <a href="http://www.ofcconference.org/en-us/home/news-and-press/exhibitor-press-releases/petra-demonstrates-low-power-silicon-photonics-i-o/" rel="nofollow" target="_blank">recently demonstrated</a><span style="color: red;"> </span>[15] 100 Gb/sec transmissions over 300 meters using its silicon photonics device technology. The device's 5mm x 5mm package containing 4x25 Gbp/sec transceivers, can be expanded to 12 or more channels to obtain throughputs greater than 300 Gbp/sec. This scalability enables accommodation of future demands and upgrades of installed network infrastructure. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><b>Silicon Photonic Research at IMEC</b></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">IMEC is also active in silicon photonic research. In February 2015 this year at the International Solid State Circuits Conference, IMEC and its collaborators released results of <a href="http://www2.imec.be/be_en/press/imec-news/imec-ugent-tyndall-silicon-photonics-transceiver.html" rel="nofollow" target="_blank">recent developments in their laboratories</a> [16] demonstrating a 4x20 Ghz/sec wavelength division multiplexing hybrid CMOS silicon photonics tranceiver. The larger global effort to standardize silicon photonic performance specifications sets the stage for future implementation over many platforms.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><b>Silicon Photonics and The "Internet of Things"</b></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Silicon photonics can assist us in resolving a potential net neutrality dilemma. Much has been debated regarding the FCC's recent adaption of a net neutrality policy which precludes Internet service providers from charging premiums for high speed commercial traffic on the web while intentionally throttling speeds on their networks. Conspicuous consumption of bandwidth by consumers is now the norm given HD and 4K video programming available on the web. If you travel frequently and patronize fast food establishments or coffee shops and use their complementary Wi-Fi systems, you become acutely aware of the limitations on available bandwidth. Many fast food restaurants preface their Wi-Fi login screens with disclaimers of suitability for a particular use, proclaiming “intended for text and email only” and “not intended for video streaming”. All too often, email and other essential services are slow when compared with Asian and European networks. The intentional throttling of Wi-Fi bandwidth often lowers video resolutions to “wax paper” quality. It's disheartening to see 1080P video rendered at resolutions below that of 1960s era analog broadcast quality. Will the FCC's net neutrality policy effectively address these concerns? Should the concept of net neutrality also accommodate the anticipated “Internet of Things” (IoT)? The IoT envisions the interconnection of “things” on the web to include household utility monitors, appliances, cars, watches, and any imaginable “thing” assigned an IP address. A few months ago I read a story describing hackers launching malware they had placed on someone's refrigerator sporting an on board computer. The fridge's door featured an HD flat screen providing an interactive family kiosk in the kitchen, but connected to the web it also kept malware in cold storage. Should ISP's be required to provide equal bandwidth and network routing for email, video conferencing, refrigerators and toasters? A humorous question, but if you're video conferencing from the fridge while snacking in the kitchen, net neutrality/equality for appliances becomes a pertinent IoT policy discussion. That said, the new IPv6 Internet protocol will provide an exponential increase in available URL's required for new email addresses, web sites and “things” attached to the web. Accordingly, the projected increase in Internet traffic can only be accommodated by enhancing routing systems and cloud services, ensuring network speeds are optimized and remain viable as global connectivity escalates.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">In this regard we might agree that from both consumer and enterprise perspectives, silicon photonic solutions are long overdue and will enjoy rapid acceptance when available for shipment and implementation.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><b>Closing Thoughts</b></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">- It will be interesting to track the evolution of silicon photonics as market demands are met with the delivery of Intel's technology to the CLR4 group of companies.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-size: large;">- IBM will seek to optimize its positioning in the enterprise markets, leveraging its silicon nano-photonics, cloud server infrastructure and possible ramp of MRAM technology for strategic product applications. IBM's advances could also provide “warp speed” for networks if additionally optimized with its <a href="http://asperasoft.com/resources/white-papers/ultra-high-speed-transport-technology/?gclid=Cj0KEQjw1pWrBRDuv-rhstiX6KwBEiQA5V9ZoXa1_o6T48KX_XxsJ95irqG6EuLgXtaJmB7fkHAFaNsaAnzj8P8HAQ" rel="nofollow" target="_blank">fasp</a></span> (TM<span style="font-size: large;">)</span></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"> Aspera [17] file transfer platform.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">- IMEC could leverage its own silicon photonic designs as its partnered R&D effort yields finished products ready for deployment.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">- PETRA and its member companies have demonstrated competitive silicon photonic technology with the ability to scale for future throughput demands. </span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">- Possible additions to the silicon photonic market equation are prospects for more efficiently deployed <a href="https://en.wikipedia.org/wiki/Software-defined_networking" rel="nofollow" target="_blank">Software Defined Networking (SDN)</a> [18] which could reduce traditional hardware and infrastructure costs while enhancing network speed, efficiency and reliability.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">- <a href="http://ieeexplore.ieee.org/xpl/articleDetails.jsp?arnumber=6997998" rel="nofollow" target="_blank">Lucent Bell Labs has introduced an ultra-dense network architecture designed for silicon photonics at the optical network unit</a>. [19] A proof of principal experiment demonstrated an FDMA architecture providing up to eight 300-MBd 16QAM (Quadrature Amplitude Modulation) subbands providing a bidirectional data rate of 9.6 Gb/sec. </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br /></span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">As silicon photonic infrastructure expands to enhance our global networks, we may eventually see the migration of this technology to microprocessor and memory devices for use in super computing and consumer products. Congratulations to IBM, Intel and the global technology alliance members who are working to enlighten our future with photonics.</span><br />
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Please join me in supporting <a href="https://www.youtube.com/watch?v=-R8jJ0wPM2Q" rel="nofollow" target="_blank">SPIE and the International Year of Light 2015</a> [20] (click on the icons below for additional site links).</span></span><br />
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Thomas D. Jay<br />Semiconductor Industry Consultant</b><br /><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com </a><br /><a href="http://www.thomasdalejay.com/">www.ThomasDaleJay.blogspot.com</a><br /><a href="http://www.youtube.com/channel/UC8T5Lc8XntcOTYqgXLJbwig/featured">Thomas D. Jay YouTube Channel</a></span></span><br />
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<b><span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="color: #3d85c6;">Acknowledgements and Reference Links</span></span></span></b></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[1] <a href="https://www-03.ibm.com/press/us/en/pressrelease/46839.wss">https://www-03.ibm.com/press/us/en/pressrelease/46839.wss</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">IBM Press release, IBM web site May 12, 2015</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[2] <a href="https://www-03.ibm.com/press/us/en/pressrelease/33115.wss">https://www-03.ibm.com/press/us/en/pressrelease/33115.wss</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">IBM Press Release, IBM web site, December 1, 2010</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[3]<a href="http://en.wikipedia.org/wiki/Silicon_photonics" target="_blank"> http://en.wikipedia.org/wiki/Silicon_photonics </a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Wikipedia</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[4] <a href="http://electronics.wesrch.com/paper-details/press-paper-EL1GP94JCLEHH-silicon-photonics-market-worth-497-53-million-by-2020">http://electronics.wesrch.com/paper-details/press-paper-EL1GP94JCLEHH-silicon-photonics-market-worth-497-53-million-by-2020</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">WeSRCH web site, MarketsandMarkets press release uploaded May 27, 2015</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[5] <a href="http://www.ofcconference.org/en-us/home/about/">http://www.ofcconference.org/en-us/home/about/</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">OFC web site</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[6] <a href="https://www.youtube.com/watch?v=KRY53sEXyNI">https://www.youtube.com/watch?v=KRY53sEXyNI</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Yurii A. Vlasov, SPIETV, YouTube</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[7] <a href="http://www.nature.com/nphoton/journal/v7/n4/full/nphoton.2013.45.html">http://www.nature.com/nphoton/journal/v7/n4/full/nphoton.2013.45.html</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Nature Photonics </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[8] <a href="http://www.thomasdalejay.blogspot.com/2013/11/the-cloud-of-nations.html">http://www.thomasdalejay.blogspot.com/2013/11/the-cloud-of-nations.html</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">ThomasDaleJay.blogspot.com</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[9]</span><a href="http://infoscience.epfl.ch/record/173534/files/ISCAS_11_1.pdf?version=1"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">http://infoscience.epfl.ch/record/173534/files/ISCAS_11_1.pdf?version=1</span></a><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">InfoScience web site, </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Hu Xu, Vasilis F. Pavlidis, and Giovanni De Micheli, LSI - EPFL, CH-1015, Switzerland Email: {hu.xu, vasileios.pavlidis, giovanni.demicheli}@epfl.ch</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[10] <a href="http://www.fiber-optics.info/history/P3/">http://www.fiber-optics.info/history/P3/</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Fiber Optics History web site</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[11] <a href="http://www.intel.com/content/www/us/en/research/intel-labs-silicon-photonics-research.html">http://www.intel.com/content/www/us/en/research/intel-labs-silicon-photonics-research.html</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Intel web site</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[12] <a href="http://www.intel.com/content/www/us/en/research/intel-labs-clr4-adopter-listing.html">http://www.intel.com/content/www/us/en/research/intel-labs-clr4-adopter-listing.html</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Intel web site</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[13] <a href="http://www.intel.com/content/www/us/en/research/intel-labs-clr4-presentation.html">http://www.intel.com/content/www/us/en/research/intel-labs-clr4-presentation.html</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Intel web site</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[14] <a href="http://www.pcworld.com/article/2879152/intel-delays-part-for-highspeed-silicon-photonic-networking.html">http://www.pcworld.com/article/2879152/intel-delays-part-for-highspeed-silicon-photonic-networking.html</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">PC World web site, Agam Shah, IDG News Service</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">February 2, 2015</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[15] <a href="http://www.ofcconference.org/en-us/home/news-and-press/exhibitor-press-releases/petra-demonstrates-low-power-silicon-photonics-i-o/">http://www.ofcconference.org/en-us/home/news-and-press/exhibitor-press-releases/petra-demonstrates-low-power-silicon-photonics-i-o/</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">OFC website</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[16] <a href="http://www2.imec.be/be_en/press/imec-news/imec-ugent-tyndall-silicon-photonics-transceiver.html">http://www2.imec.be/be_en/press/imec-news/imec-ugent-tyndall-silicon-photonics-transceiver.html</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">IMEC web site</span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[17] <a href="http://asperasoft.com/resources/white-papers/ultra-high-speed-transport-technology/?gclid=Cj0KEQjw1pWrBRDuv-rhstiX6KwBEiQA5V9ZoXa1_o6T48KX_XxsJ95irqG6EuLgXtaJm">http://asperasoft.com/resources/white-papers/ultra-high-speed-transport-technology/?gclid=Cj0KEQjw1pWrBRDuv-rhstiX6KwBEiQA5V9ZoXa1_o6T48KX_XxsJ95irqG6EuLgXtaJm</a>B7fkHAFaNsaAnzj8P8HAQ</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">IBM Aspera web site</span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[18]<a href="https://en.wikipedia.org/wiki/Softwaredefined_networking" target="_blank"> https://en.wikipedia.org/wiki/Softwaredefined_networking</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Wikipedia</span><br />
<br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[19] <a href="http://ieeexplore.ieee.org/xpl/articleDetails.jsp?arnumber=6997998">http://ieeexplore.ieee.org/xpl/articleDetails.jsp?arnumber=6997998</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">IEEE Xplore web site </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"> </span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">[20] <a href="https://www.youtube.com/watch?v=-R8jJ0wPM2Q">https://www.youtube.com/watch?v=-R8jJ0wPM2Q</a></span><br />
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">International Year of Light 2015, Official Trailer, YouTube</span>Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.comtag:blogger.com,1999:blog-2848778404572657227.post-37717895916975737762015-04-23T12:07:00.000-04:002017-11-26T06:14:00.775-05:00A Defining Inflection in the EUV Continuum<br />
<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="https://www.youtube.com/watch?v=vIiqAcGr614" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="https://www.youtube.com/watch?v=vIiqAcGr614" border="0" height="121" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSWMtKeYNfjOtSoiP7siExh7qOgNlFKiS95eTocjrJHRyvhH8OFJxZftwFImbGmBt45OICDcSOQGcwl9o67XAcmSn0GFmSkCQjjSt3-oA1JaxUdhjfweu5JrIMuF8Mq9-9n738Q5Vv8yU7/s1600/TDJ_TechnologyGroupLogo_01_21_2013.jpg" title="" width="200" /></a>An April 22, 2015 <a href="http://www.asml.com/asml/show.do?lang=EN&ctx=5869&rid=51765">ASML press release</a> [1] announced an agreement with one of its major US customers (believed to be Intel) to purchase a minimum quantity of fifteen of its NXE:3350B EUV lithography systems with two of the units slated for delivery year end 2015. Intel has previously invested over $4 Billion in ASML. Given the size of the order, it would appear that Intel will proceed with a large scale strategic commitment to EUV lithography for future production process nodes =<10nm, with a path to 7nm and smaller CDs. <br /><br /> Although financial details of the purchase were not released, a sizable capital equipment expenditure has been made after many years of delay and uncertainty in the EUV program. This purchase transaction represents a large scale, high profile commitment to what has been a capital intensive development program delayed by uncooperative laws of physics, semiconductor sector business cycles, and capital market dynamics. It seems that the semiconductor production road map has been sufficiently refined, concomitant with related process technologies, and that confidence has been restored in long term EUV/HVM convergence/insertion forecasting. Although Intel's eventual commitment to production EUV had been anticipated, the waiting game is over. The remaining field of industry players who have withheld their commitments to EUV might now be motivated to secure anticipated purchase positioning with ASML before delivery date extensions become a concern. <br /><br />SPIE Advanced Lithography 2015 was likely a key catalyst triggering this defining inflection point as process experts from around the globe converged to announce new and encouraging breakthroughs in lithography and related technologies which have heretofore gated the EUV program. We might review some of the important observations and breakthroughs which comprise the critical mass of the inflection:</span></span><br />
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<b><span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">EUV Inflection Triggers</span></span></b></div>
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<b><span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Probable Key Factors in Intel's EUV Decision </span></span></b></div>
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"> <br /> - While lithographers have entertained DSA and electron beam lithography as developmental candidates for 7nm scaling, given current evolution, only 13.5nm stepper/scanners can provide the image resolution and throughput required for both pilot line and future HVM. <br /><br />- SEMATECH recently announced the development of a metal oxide based <a href="http://public.sematech.org/pages/newsrelease.aspx?NewsID=1">photoresist which reduces the EUV power output required for EUVL dosimetry</a> (typically 15 – 20 mJ/cm2) to less than 2 - 3 mJ/cm2. [2] The new resist enables process development at reduced EUV power levels, but will not eliminate the future requirement for higher HVM source power. In the interim, it's possible that process solutions can be built around this low dose resist, enabling further, accelerated development of EUV HVM. <br /><br />- During SPIE Advanced Lithography on February 24, <a href="http://www.asml.com/asml/show.do?lang=EN&ctx=5869&rid=51578">ASML announced TSMC's confirmation that it had processed 1022 wafers in twenty four hours</a> [3] on its NXE:3300B with a sustained source power of 90 watts. There is encouraging new data illustrating improved MTBF while sustaining EUV source operation at higher power levels. <br /><br />- ASML has made significant over all progress in EUV development and has recently updated its time line for implementation of key milestones. ASML released many new updates on their EUV program at SPIE Advanced Lithography 2015 which were quite voluminous (see the post conference SPIE abstract summary). <br /><br />- Obstacles to 7nm and future nodes have been addressed. <a href="http://proceedings.spiedigitallibrary.org/proceeding.aspx?articleid=2208413">ASML and Carl Zeiss acknowledged in an invited paper at SPIE Advanced Lithography 2015, that higher resolutions will require 60mJ/cm2 for half pitch nodes <8nm</a>. [4] ASML's work with Carl Zeiss has produced an optical system with a numeric aperture (NA) of 0.55 vs. ASML's current EUV NA of 0.33. The higher NA system will require 500 watts of EUV power to achieve the estimated 60 mJ/cm2 dosimetry required for throughput of 150 wafers/hour. While this ASML/Carl Zeiss achievement paves the way for =<7nm process nodes, current R&D programs are also under way to provide a visible path to a >500 watt free electron laser EUV source, identifying one of the last major puzzle pieces in ASML's EUV endeavor. While ASML continues to refine Laser Produced Plasma source technology, the future availability of a >500 watt free electron laser EUV source remains a critical item on the agenda, and will probably gate the time lines of related programs. <br /><br />- ASML has entered the pellicle business in the self interest of providing viable protection for EUV photomasks from particulate contamination. The polysilicon based pellicles are transparent to EUV with a one pass transmission loss approximating 14% and seem to exhibit sufficient durability for use in production. Previous uncertainty in EUV pellicle viability and availability have been resolved. <br /><br />- As a key semiconductor industry supplier, Veeco Instruments has been successful in providing ion beam deposition tooling enabling EUV mask fabrication for advanced process nodes within acceptable defect limits. Defect free mask fabrication for advanced nodes has been a gating factor in the EUV program. <br /><br />- Advancements in actinic inspection are progressing. <a href="http://proceedings.spiedigitallibrary.org/proceeding.aspx?articleid=2208411">Lawrence Berkeley National Laboratory's CXRO has been developing the SHARP EUV microscope in cooperation with SEMATECH </a>. [5] A progress report on mask inspection was made at SPIE Advanced Lithography 2015. The SHARP EUV microscope is illuminated by an EUV synchrotron light source within the CXRO complex. The commercial availability of EUV obtained from free electron laser technology could enable the emulation of SHARP's capabilities given comparable optical and analytical performance. <br /><br />- Future commercial availability of free electron laser EUV sources could also offset concerns gating the development of actinic inspection tools by KLA-Tencor and others. Given proper design, it's possible that a single free electron source beamline could provide EUV source illumination for both stepper/scanner clusters and in-line actinic inspection tools. <br /><br />- Recent successes at TSMC with ASML's NXE:3300B EUV systems have prompted an additional order for two newer model NXE:3350B tools. As foundry commitments to EUV lithography continue, Intel has taken a major strategic step to ensure its competitive leadership positioning in the global wafer fabrication market.</span></span><br />
<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><br />No doubt there were many other considerations factored into Intel's EUV purchase decision. Ultimately the achievement and convergence of key process and equipment performance concerns have prompted a major commitment to both lithography and investment strategy over the longer term. In doing so, Intel has set a defining course for the semiconductor industry.</span></span><br />
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Thomas D. Jay <br />Semiconductor Industry Consultant</b><br /><a href="https://www.blogger.com/goog_1445200683">Thomas.Dale.Jay@gmail.com </a><br /><a href="http://www.thomasdalejay.com/">www.ThomasDaleJay.blogspot.com</a> <br /><a href="http://www.youtube.com/channel/UC8T5Lc8XntcOTYqgXLJbwig/featured">Thomas D. Jay YouTube Channel</a></span></span><br />
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<b><span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="color: #3d85c6;">Acknowledgements and Reference Links</span></span></span></b><br />
<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><br />[1] <a href="http://www.asml.com/asml/show.do?lang=EN&ctx=5869&rid=51765">ASML press release</a> </span></span></div>
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<span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Link to ASML web site press release.<br /><br />[2] <a href="http://public.sematech.org/pages/newsrelease.aspx?NewsID=1">photoresist which reduces the EUV power output required for EUVL dosimetry</a><br /> Link to SEMATECH web site.<br /><br />[3] <a href="http://www.asml.com/asml/show.do?lang=EN&ctx=5869&rid=51578">ASML announced TSMC's confirmation that is had processed 1022 wafers in twenty four hours</a> <br /> Link to ASML web site press release.<br /><br />[4] <a href="http://proceedings.spiedigitallibrary.org/proceeding.aspx?articleid=2208413">ASML and Carl Zeiss acknowledged in an invited paper at SPIE Advanced Lithography 2015, that higher resolutions will require 60mJ/cm2 for half pitch nodes <8nm</a>. <br />Link to SPIE Digital Library abstracts, SPIE Advanced Lithography 2015.<br /><br />[5] <a href="http://proceedings.spiedigitallibrary.org/proceeding.aspx?articleid=2208411">Lawrence Berkeley National Laboratory's CXRO has been developing the SHARP EUV microscope in cooperation with SEMATECH </a> <br />Link to SPIE Digital Library abstracts, SPIE Advanced Lithography 2015</span></span><span style="font-size: large;"><span style="font-family: "arial" , "helvetica" , sans-serif;">
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Thomas D. Jayhttp://www.blogger.com/profile/04627896725919470717noreply@blogger.com