Peregrine’s co-founder and CTO Ron Reedy gave the following presentation at a San Diego IEEE (Institute of Electrical and Electronics Engineers) event in October 2013. In this video, which is part 2 of his talk, “Commercializing Silicon on Sapphire (SOS) & Changing an Industry,” the viewer learns about the impact of the semiconductor industry. The entire semiconductor industry valuation is 2/3 the size of Wal-Mart. Even within a device, it’s a small part of the total bill of materials. So why should people care about semiconductors? Without leveraging semiconductors, millions of devices and features are useless. Therefore, the leveraged value of semiconductors is really $10 trillion, which is equal to or greater than the valuation of the oil industry. In this segment, Reedy draws several parallels between the semiconductor and the oil industry’s to glean insights, such as how niche opportunities are the most profitable and why startups are best positioned to fill these niches.