Microchip Shortage

"Every aspect of human existence is going online, and every aspect of that is running on semiconductors… People are begging us for more."

—Pat Gelsinger, the new chief executive of Intel

Gelsinger made these comments at a virtual meeting with President Biden and 18 other executives in response to a microchip shortage. Microchips are used in every type of electronic device, and the shortage has ripple effects through all industries.

The shortage is due to a few factors that disrupted the supply chain: COVID, a factory fire in Taiwan, and a cold snap in Texas that shut down manufacturing. Items that previously sold for $15 now sell for $200 due to the shortage of the chips and lack of supply in the market. Long story short: It’s not a good time for businesses to upgrade electronic and communications hardware.

Tech Terms

NFT— Non-fungible Tokens

NFTs have becomes popular in the news suddenly, but most people have no idea what they are or how they work, only that it maybe has something to do with Bitcoin.

The only thing it has to do with Bitcoin is that it’s built on the same blockchain technology that supports Bitcoin and other digital currencies. A non-fungible (not interchangeable) token is the digital version of buying an original work of art or an autograph. Other people can buy prints and screens and giclées of Van Gogh’s “The Starry Night,” but only MOMA has the original; same goes for NFTs.

There is an obvious difference between a physical original and a digital original: The physical one has the history, was touched by the artist, and includes the detail, texture, and life that the artist imbued it with.      An NFT is the same exact product that anyone else can view digitally; you just get to say you’re the owner.

For many people, purchasing or investing in NFTs is baffling; others view it as the future. Either way, there’s still money to be made — the first tweet ever sent by Twitter founder Jack Dorsey was sold at auction for $2.9 million.