"America's technological supremacy isn't being lost to competition-it's being surrendered by the very boards entrusted to protect it. No case exposes this more than Intel, once Silicon Valley's pride, now the poster child for why U.S. corporate governance must be rewritten for an era of technoeconomic warfare. And I should know, because I personally played a pivotal role in bringing to light the crisis that led to the unprecedented nationalization of 9.9% stake in America's chips champion."
"But around a decade ago, I began working in earnest in venture capital, and I increasingly came to believe in the mission of safeguarding America's technological future against autocratic competitors, specifically China. At Bastille Ventures, my team's research over the past year and change has opened a lot of eyes. First, we approached the Financial Times, and they were, frankly, astonished to find our data was spot-on, leading to the identification of 43 startup investments by Intel Capital in China."
Research by a venture capital firm identified extensive Intel-linked investments in Chinese startups, including 43 by Intel Capital and 600 tied to an Intel board member. Those findings exposed corporate governance failures at Intel and raised national security concerns about technology transfer and strategic vulnerability. The U.S. government converted lending into equity by acquiring a 9.9% stake in Intel to attempt to rescue the company and seek a return as a benefactor. The situation is presented as evidence that U.S. corporate governance requires rewriting to protect technological competitiveness during technoeconomic rivalry with autocratic states.
Read at Fortune
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