without the disk-drive makers becoming shirtless, history you don't know meseems
Forgetting how many disk-drive makers went under, Chris sayeth,
once upon a time disk manufacturing capacity was less than tape and disk successfully replaced tape for mainstream storage without the disk-drive makers becoming shirtless
The only ones that thrived were the ones that could spend zillions to make new technology and fabs. The lucky ones got swallowed, most staff sent to rot.
Fabs get more and more expensive, inverse proportion to size of dies, chips, whatever gets smaller but costs more to start manufacturing, in the hope that you will recoup that larger investment by selling astronomical amounts and that your prices won't be undercut. At some moment, the cost is too high to take the risk. Seen that happen. BTW, older fabs are very cheap to purchase, still good for not-the-latest chip making, thus lotsa weird clones for low-end and heavy competitive manufacturing.
BTW, Chris is quite OK if he has friends of this quality, as the gentleman being interviewed really makes sense, you don't need to know everything. Can we corroborate the numbers independently?