It may be defeatist, but it is correct.
Seriously, how do you even realistically approach taking on ASML. They spent decades and billions of (investment) dollars to do insane moonshot research and it paid off. But it also closed off the door behind them.
Entire countries (Russia, China, ...) have been trying to reproduce it. They have not succeeded yet.
>They have not succeeded yet.
Reproducing an ASML machine is a piece of cake. Okay, not a piece of cake but definitely doable. The problem is that you cannot sell your reproduction in rich countries because the US government will threaten you with sanctions and US companies will screech "patents!".
why does one need to take on ASML? I had to look it up, semiconductors.
ASML market cap is ~500B. Meta market cap is ~1.5T.
i'm no facebook fan but it was started by a dude in a dorm room.
So I think saying "well those times are gone now" is defeatist.
(fwiw i personally have no interest in building a trillion dollar company from my basement, just talking philosophy here)