chips and science act

In this episode, recorded live at ECTC 2023, Françoise interviews some of the key speakers about the hot topics of the week: Quantum computing, the Chips and Science Act, and workforce development. Additionally, she speaks with the winner of the first-ever, IEEE EPS William Chen Distinguished Service Award. The episode concludes with a conversation with the event organizers about changes and future plans. 

Keynote speaker, Mike Manfra, physics professor at Purdue University, and Scientific Director, Microsoft Quantum Lab West Lafayette, talks about quantum computing — what it is, why we need it, and what challenges and opportunities exist from the microelectronics advanced packaging community to bring it into manufacturing.  

Dick Otte, Promex, and Joshua Dillon, Marvell, talk about the key takeaways from the Chips Act Special Session – Advanced Packaging in North America, building the ecosystem. 

Kim Yess, Brewer Science, talks about the Diversity and Career Growth Panel, and the key takeaways discussed by the panel on diversifying our workforce to meet National needs as outlined by the CHIPS Act Initiative. 

Shaw Fong Wong talks about what inspires him to volunteer his time to the EPS Society. 

 Ibrahim Guven and Florian Herrault wrap up the episode with a look at the success of this year’s format changes and future plans for ECTC 2024 and beyond. 

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0:00 -- Intro.

1:42 -- Start of interview.

3:31 -- Mario's "origin story". 

9:25 -- The origin, evolution and impact of CFIUS. "The (regulatory) process is the bottle, national security is the wine." The driver of CFIUS is national security.

13:11 -- On the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA). 

18:18 -- His recommendation on how boards should think about CFIUS matters.  His book: "A Dealmaker’s Guide to CFIUS: Answers to Common Questions from Boards, Bankers and Investors." 

21:40 -- On the new CFIUS Enforcement Guidelines (Fall 2022). "Since FIRRMA, CFIUS has been significantly resourced by the U.S. Government and today there is an independent office within CFIUS that is entirely focused on transactions that were not notified to the Committee." (see CFIUS annual reports to Congress). There are hundreds of transactions reported per year at this stage.

25:58 -- The proposed outbound investment screening regulatory framework. "[It may impact] a U.S. person sitting in a Chinese board (for example)." "The U.S. has jurisdiction over U.S. capital, U.S. persons, U.S. technology, etc and the U.S. wants to slow down adversary countries." "We will know a lot more about this framework by the end of February 2023 when the report comes out."

29:47 -- On the different approaches to industrial policies by China and the U.S. The Chips and Science Act and IRA Act of 2022.

36:36 -- On how boards should consider geopolitical risks and opportunities ("how to optimize outcomes"): Three questions to consider: 1) The U.S.- China relationship, 2) What the US is doing with its allies / What China is doing with its allies, and 3) What are national governments doing to independently enhance their own sovereignty and security resilience.

39:17 -- On US jurisdiction over U.S. foreign-listed companies. Example of Canada ordering divestment from Chinese investments in Canadian lithium companies.

43:30 -- Final thoughts for directors on geopolitics and national security issues. 

44:24 - The books that have greatly influenced his life: 

1. Moby Dick, by Herman Melville (1851)
2. The Closing of the American Mind, by Allan Bloom (1987)

45:56 - His mentors, and what he learned from them. 

1. Donald Rumsfeld (former U.S. Secretary of Defense)
2. Aviva Diamant (retired, Fried Frank)
3. Norm Augustine (former Chairman and CEO of Lockheed Martin)

48:20 -  Quotes he thinks of often or live his life by. From his mother "This is the day the Lord has made; let us rejoice.” (psalms)

49:05 - An unusual habit or an absurd thing that he loves: early rising and journaling at a coffee shop or diner.

50:06 - The living person he most admires: his dad.

Mario Mancuso is a Partner of Kirkland & Ellis and leads the firm’s international trade and national security practice. A former senior member of the President’s national security team, Mario provides strategic and legal advice to companies, private equity sponsors, and financial institutions operating or investing across international borders.

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 You can follow Mario on social media at:

Twitter: @MancusoOnline

LinkedIn: https://www.linkedin.com/in/mariomancuso/

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 You can follow Evan on social media at:

Twitter: @evanepstein

LinkedIn: https://www.linkedin.com/in/epsteinevan/ 

Substack: https://evanepstein.substack.com/

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Music/Soundtrack (found via Free Music Archive): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License

You can follow Evan on social media at:

Twitter: @evanepstein

LinkedIn: https://www.linkedin.com/in/epsteinevan/ 

Substack: https://evanepstein.substack.com/

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You can join as a Patron of the Boardroom Governance Podcast at:

Patreon: patreon.com/BoardroomGovernancePod

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Music/Soundtrack (found via Free Music Archive): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License

Join guest host Stacie Kroll and guests Joe Storch and Andrea Stagg as they discuss the recent legislation of the CHIPS Act of 2022 (Combating Sexual Harassment in Science) that includes significant policy changes relating to sexual harassment for funding recipients in the STEM fields. Learn more about the changes in legislation that will have lasting change and impact on the field of higher education and how it will address STEM sexual harassment in a profound and useful way.

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