Why do they do it? Well about twice a decade the DRAM market comes good. Demand outstrips supply, prices are up, the money comes rolling in, you're on a high like a heroin fix or a win on the horses. You never forget it.
Then, for the rest of the half-decade, you're losing money hand over fist, prices fall like a stone, orders get cancelled, customers spurn you, your investors hate you.
But you never forget the high of the good times.
So you do everything you can to stay in the business. Long past the time when others have folded their tents and slunk away into the night, you are fighting in every way you know how to keep your DRAM fabs churning out chips.
You know that sometime, one day, maybe quite soon, the good times will come back. Prices will stop falling, customers will be begging for product, a tsunami of dosh will roll in your door.
And you'll be back on that high.
So right
(although I know very little about horses)
Don't go near them Frederic, they're dangerous at both ends and uncomfortable in the middle.
Thanks for the comment
I guessed the correct answer was:
"So right (although I know very little about heroin)"
There, once again it's dangerous at both ends but, in this case, probably quite nice in the middle