@marcjoffe@TaupeAvenger Prop 13. Old people holding onto big homes and not downsizing. No new construction. High property taxes and interest rates for new homeowners.
This new research on US unicorn startups is really interesting.
Some key facts from the report:
1. Immigrants founded or cofounded 455 of Americaโs 775 privately held billion-dollar startups, equal to 59% of all US unicorns.
2. 66% of all US unicorns were founded or cofounded by immigrants or the children of immigrants.
3. 79% of US unicorns have either an immigrant founder or an immigrant in a key leadership role.
4. The 455 immigrant-founded US unicorns have a combined valuation of $5 trillion.
5. That $5 trillion valuation is larger than the total stock-market value of companies listed in all but 7 countries.
6. Including immigrant-founded unicorns that went public since 2016 pushes the total value above $5.8 trillion.
7. The number of immigrant-founded US unicorns rose from 50 in 2018 to 455 in 2026.
8. 24% of US unicorns have a founder who first came to America as an international student.