On this episode of Reaganism, Roger sits down live at the Reagan National Defense Forum with Substrate's founder and CEO, James Proud. Roger and James discuss Substrate's background, and it's promise to revolutionize the chip industry that is currently dominated by Taiwan and Dutch origin lithography machines. Roger and James discuss the history and state of the US chip industry and the chip race underway with China. They transition to the profound challenge Substrate is trying to tackle, and why no company has thus far singularly integrated the chip industry. The conversation concludes with a look at the future of the chip industry, and the cost prohibitive nature of producing increasingly advanced chips.