Book Review: Focus: The ASML way - Inside the power struggle over the most complex machine on earth by Marc Hijink

Worth the read

I like to read a lot. I don’t like fiction. I like history and geopolitical books. This is my most recent book that I finished.

First some basic information:

• Pages: 426 pages, Kindle Edition

• Publication Date: June 12, 2024.

• Publication House: Independently published

• About the Author (from Amazon): Marc Hijink (1969) is a financial reporter and technology columnist for the Dutch daily newspaper NRC. He covered ASML and its technology for more than a decade and reported on Europe’s role in the tech war between the US and China. Building upon this experience he got the unique opportunity to take a three-year-long deep dive into the company’s operations and unveil its culture from the inside. Before joining NRC, Marc was the editor-in-chief of the Dutch edition of PC Magazine and ZDNet and was a reporter at De Gelderlander. He studied at Radboud University in Nijmegen, and mastered in Communications and Journalism.

• How long it took me to read: 11/07/2024 to 12/01/2024 very casual reading

• 5 out of 5 stars

The author, Marc Hijink, was able to gain unique access into ASML which is very evident in the storytelling and the anecdotes shared.

Marc Hijink’s "Focus: The ASML way" provides a compelling narrative of ASML, a company that has become a titan in the world of semiconductor manufacturing by mastering the art of photolithography. The storytelling in this book is both detailed and engaging, offering readers a rich blend of technical insights and historical context that traces the company’s evolution from obscurity to a global monopoly in an industry that underpins modern technology.

Hijink does an excellent job of capturing the essence of ASML's journey from the quiet Dutch town of Veldhoven of no particular importance, this offshoot of Philips Electronics that was really paid no attention to by Philips became THE most important company in the semiconductor world.

The author spotlights the dynamic duo of Peter Wennink and Martin van den Brink. Their combined leadership style, characterized by Dutch bluntness and an unyielding commitment to innovation, is vividly portrayed. Van den Brink, in particular, is depicted as a brilliant technologist whose visionary approach, despite interpersonal challenges, propelled ASML to new heights. Wennink is the “people person” and non-engineer of the duo who frequently comes in to the aftermath of van den Brink’s style both internally and with vendors and customers. This focus on key personalities adds a human dimension to the corporate saga, making the narrative both relatable and inspiring.

(Pictured above: Martin van den Brink on the left and Peter Wennink on the right)

However, while the book delves into the strategic gambles, including bold acquisitions and mergers that defined ASML's path, I found myself wanting more emphasis on the technical difficulties and engineering challenges the company faced. The complexities of developing photolithography machines, especially the EUV (Extreme Ultraviolet) systems, are monumental, and a deeper dive into these aspects would have enriched the narrative further. The sheer scale of these machines, requiring seven jumbo jets for transport, and the willingness of clients to invest in untested prototypes for the promise of cutting-edge technology, underscores the high-stakes environment ASML operates within. The units may be large, but they are extremely fragile. The separated parts of the machine need specifically designed metal incubators to keep the sensitive equipment at exactly the right temperature during its travels.

The geopolitical context, particularly ASML’s navigation through the choppy waters of international export restrictions and its relationships with key markets like China and Taiwan, is well-explored. Hijink effectively illustrates how ASML has managed to balance these political dynamics both at home and internationally while maintaining its technological edge.

The book also sheds light on the fascinating business model where customers prefer receiving imperfect machines for immediate use, betting on their lucrative potential and the company's ability to service and perfect them post-installation.

In summary, "Focus: The ASML way" is a testament to a Dutch success story, detailing how ASML's relentless innovation and risk-taking have made it indispensable in the tech world, despite its low profile. The book's strength lies in its storytelling and the detailed look at the company's leadership and strategic decisions. However, for those intrigued by the technical marvels of semiconductor manufacturing, there's a slight yearning for more depth in the technical challenges. Nevertheless, Hijink’s work is a valuable addition to the literature on technology and business, highlighting the intricate dance of technology, commerce, and geopolitics.

[My next book is: No Trade Is Free: Changing Course, Taking on China, and Helping America's Workers by Robert Lighthizer]