Private unicorn market cap by countrypic.twitter.com/z2Mc14qDDE
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New post - "Industry Towns: Where You Start Your Company Matters" http://blog.eladgil.com/2019/06/industry-towns-where-you-start-company.html …pic.twitter.com/m6mQxxf5Ra
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Like any other industry - new market cap in tech aggregates to just a handful of citiespic.twitter.com/KAlmjpHbta
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However, there are more cities around the world with at least one unicornpic.twitter.com/7LBVFecFgz
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Industry towns have the lion's share of private tech unicorns - irrespective of where in the world you arepic.twitter.com/7TbKuZ1AJU
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Given markets are 10X bigger, will see more $1B+ companies everywhere, even more $10B+ companies in tech clusters Pie is getting bigger for everyone, and more of it is available to others everywhere As pie grows, industry towns will take a larger share http://blog.eladgil.com/2019/05/markets-are-10x-bigger-than-ever.html …
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You can play with the raw data in this
@airtable:https://airtable.com/shrLhZFRbTMumT8BC …Show this thread -
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If South Korea is the #5 country, Seoul should be listed as one of the top cities as all of the unicorns here are in metro Seoul.
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This was not meant to be "top cities". Rather, it was meant to show that in each country or region (e.g. Europe) the biggest cluster was dramatically larger than the others. In South Korea, Seoul is the only city with unicorns, so I did not list it, but it is a good point
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But in hindsight, you are right - would have been great to list Seoul.
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Where is Tel Aviv??
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Ya exactly
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Tel Aviv is AMA due to some bias in the dataset. The key misalignment here is that the companies headquarters are what presented as the core essence of a company. While a lot of companies are founded in Tel Aviv, most of the headquarters are later relocated abroad.
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This definitely made it harder to represent Israel properly For example, some companies listed two HQs (one in Israel and one in US) If you count those companies as IL only companies, you end up with $5.6B of market cap, with $4.6B in Tel Aviv and $1B in Jerusalem
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There also a number of companies started by Israelis and moved to the US, or that become quite large in the US (WeWork)
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Here is the data in case you want to play with it and come to your own conclusions or insights. Thanks for reading this!https://airtable.com/shrLhZFRbTMumT8BC …
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Thanks! Much smaller than expected.... "Startup Nation" propoganda clearly effective!
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To be fair, would look amazing on a per capita basis... but that also gives away the point that you can't escape from scale
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Great article! I particularly loved this line: “Hard work, ambition, and a singular focus are more likely to meet with success than taking it easy, a laissez fair attitude and wanting to do a little bit of everything.” Also: is Microsoft classified as an SV or Seattle Unicorn?
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Thanks! In this case only private market caps were counted. So Microsoft, Google, Apple etc not included
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Oh right! Wow, well that would have skewed the picture hugely in the Valley’s favour I’m sure. Thanks!
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This post was about where to start companies, so looking at private companies is the best reflection of that. There could be separate questions on where all the public market cap is, or where has public market cap grown the most etc
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Fair. A thoroughly enjoyable post for entrepreneurs such as I.
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