Molson Hart

I’m still at work and have to finish that but I think you’re overly focused on a partially explanatory variable

Quite possible. FWIW i don't think this explains everything but there does seem to be (to me) an overall life cycle of societies. As I said on the other thread I think any fix for the US would include internalizing this colonizing->building->declining cycle within the country.

China seems like an extremely strong counterexample.

You sure? Country was totally destroyed under Mao. It's been building from almost scratch since.

Okay we need to define variables. Are we talking empty lands in a abstract or concrete sense because housing in China is impossibly expensive and has been for a while

Mostly abstract as per @Pete21083's reply. Concrete either historically because before the industrial revolution there was not much else but land, or during a complete rebuilt like China after Mao or EU after WWII when you sort of made a country empty.

1. Land prices. I don't think cheap land is all that important. Plus, it tends to be correlated with lack of economy dynamism. Even after controlling for that, it doesn't matter. Sure SV is more expensive today than 10 years ago, but 10 years ago it was fucking expensive!

The most valuable new companies in the world are getting build where land is expensive, not cheap. When you raise the type of money necessary to build a billion dollar startup you can pay $10k/month in personal rent.