Loading summary
A
Today we're going to talk about the number of unicorns per country in 2025.
B
I'm going into this blind, just so everybody knows.
A
Dave literally just asked me what a unicorn is.
B
What is a unicorn? We're. We're live in person. I can see Dan across from me.
A
That is cool.
B
I'm not sure what to look at, though. The screen or you. But Dan's arms are. The guns are staring me right in the face.
A
I got a goodbye pump in this morning.
B
That's why I take my jacket off.
A
Yeah.
B
All right, let's dive into it.
A
Okay, so what is a unicorn? A unicorn is a company that is worth over a billion dollars. Yeah.
B
Okay, so we're going to go through Visualizing Unicorns by countries in 2025. We have a list in front of us. Okay. Unicorns are private or countries worth.
A
No companies.
B
Companies located in a certain company in a certain country. Did I say that wrong?
A
You said, yeah, but it's all good.
B
Hey, it's okay. Cool.
A
So the number of unicorns by country.
B
Why is this important to me?
A
It tells you, you know, what countries are capable of producing exceptional, like, standout businesses. And, you know, the whole unicorn thing came out of like, the. The taxing where basically, you know, the VC would invest in a company and, you know, they'd put a small amount of capital in, not a small amount, but, like, you know, they'd invest in this company. And the idea is the unicorn, like the, you know, unicorns are rare. Right. That's why. That's where it comes from. So unicorns are rare. Where do they. How do we find these, like, super rare companies that are likely to hit that $1 billion valuation mark super easily. That's what a unicorn is. Some examples. And actually, like, I don't know, it's an aside not really relevant to real estate. But, you know, there's somebody posted this thing the other day about, like, Peter Thiel has Thiel Fellowship. He. That's a VC firm. And then there's another one called Y Combinator or yc. You hear a lot about. Yeah, so Y Combinator, like, a lot of unicorns have come through Y Combinator, hundreds of unicorns, but they've had like thousands of companies through y combinator. And VCs measure like, their. Their success or like, hit rate based on, like, how many of those actually succeed. And Y Combinators rate of success is like in the 1% range. And Thiel Fellowship, even though they've had way fewer unicorns, is like in the 5% range. Right. So they've pumped out a lot of unicorns. A unicorn is basically just a company that is exceptional at getting to that 1 billion valuation. Now this, which is China, is that.
B
Based off of just the sheer fact that SpaceX is in there?
A
No.
B
So 793 companies inside the U.S. yeah. American dream.
A
Many of them are worth much more than that.
B
Right.
A
So they also have the most valuable unicorns of top countries, which we'll go through that list quickly. So in the US their most valuable unicorn is SpaceX at $350 billion, which is, you know, it's private sector valuation. So take it with a grain of salt. There's other companies, these are private firms. Right. These aren't publicly traded companies either. So these are companies that are not on the traded on the stock. Privately held.
B
These are all privately held. Interesting.
A
So you have SpaceX 350 billion. ByteDance is the biggest in China at 220 billion.
B
TikTok baby.
A
India is Reliance Retail at 100 billion. The UK is Revolut at 32 billion. Germany is Helsing at 14 billion. And France is Mistral AI at 6 billion. And Canada is on the list here as well.
B
So Canada's tied with France 30.
A
Each one has 30 unicorns. And Canada's this dapper. I don't even know what dapper is.
B
I feel like I've heard of that. I need to look it up. But I don't know, like why, why is the, why does the US pulling ahead? I'm just guessing it's based off of just your population growth. I mean that's not the major factor of it, but I'm assuming it definitely helps. And also on that note, it looks like I'm trying to look up these, these, these companies here, but I'm assuming AI is playing a massive role in a lot of these companies right now.
A
I think AI is definitely like, it's really good at attracting capital. Right. So if you want to get a high valuation, being an AI company is an easy way to do that. So you see, I mean you see, you see Mistral AI on the list. You know there's, there's Dapper Labs is actually a blockchain company, right? Blockchain gaming company. It says funding games on the blockchain. So I have like NBA Top Shot, Disney, Pinnacle, Cryptokitties. I don't know what that other one is. Michaela.
B
Interesting.
A
Yeah. And I guess they basically just make X NFTs into the, out of these companies. Crazy. But anyway, talking about AI, you know, like you know, it's like, what's the, what's the next bubble? Right. So, but anyway, so why does the unicorn index matter? I think the, the number of companies that in, in that country that are able to be successful tells you a lot about the country's ability to generate wealth. The US has set almost 800, 793 privately traded companies over a billion dollars. China second on the list. 284. Like the US is off this chart. Right? Like it's just a, it's just a line at the top.
B
I almost miss it. I almost missed that.
A
I know. Yeah. It looks like China. Like when you first see the, the list, China's 284, India 88. And those are the three biggest economies in the world. Right. So you have the us, China and India all kind of jockeying for that first position in the largest economies in the world.
B
I have the locations within the US on where these companies are located, I'm assuming, or where the founders live. I'm not too sure. But it says San Francisco is number one.
A
Yeah, it's like just Palo Alto. That's where all the, that's where, like that's where Y Combinator is, the old fellowship, etc. Right.
B
So new York's up there too though.
A
New York makes sense.
B
New York's up there. San Francisco, New York, Palo Alto. They're the biggest, like power hubs, I guess, of the area.
A
Makes sense.
B
It's all like enterprise says buckets are enterprise applications, high tech, AI and deep tech. And then consumer are the three major buckets of these types of companies that are out there. Interesting fresh examples. There's a few new ones here, which is Kalshi, which is an event. Markets.
A
Yeah, you know, you know, Kalshi. It's like, is that the like Poly Market? You can just bet on random shit.
B
Like, oh, that's Kalshi.
A
Yeah. Well, no, Kalshi is like a competitor. Poly Market.
B
Interesting.
A
Yeah.
B
Okay. And then they have Decagon, which is AI Meter, which is enterprise networks Gecko, which is industrial robots. So it's like all heavy tech, it looks like. Interesting.
A
Yeah, I guess OpenAI would be in there. It's privately traded, Right. Not public yet. Although I think the dream for a lot of these companies eventually to go public, obviously. Like, what was the one that just did it recently? There was a recent big ipo. I'll think of it. Okay, so let's go down this list because I think a couple of these surprised me. A couple didn't. Obviously you've sort of got your developed world, like your world leaders kind of at the top here. Right. So some of the biggest economies in the world. So you've got in order US, China, India, which you already went through, then the UK with 64 unicorns. So 64 privately owned companies worth over a billion dollars. Germany at 40, France and Canada tied at 30. And then Singapore and Israel at 22. South Korea at 21. Brazil kind of surprised me. Yeah.
B
This list, this is where it kind of breaks off into like, I wouldn't expect some of these on here.
A
Yeah, yeah. Brazil 20. Japan 16. Hong Kong 12. Hong Kong makes sense. Sort of just like a, you know, part of the, the Chinese market there. Australia 12. Which is interesting because like I, I always think of Australia as like warm Canada, you know what I mean? You know, very similar. But the thing is Australia 12, it doesn't have that shared border with the US and so I think in Canada a lot of companies are able to get that, right, that kind of like unicorn status by having that close proximity to the US market and being able to trade there. So that's why Canada, I think Canada and Australia are very comparable. Immigration based economies, insane. House prices, insane, you know, price to income ratios, you know, very westernized new world kind of thing. But Australia has less than half of the unicorns of Canada. Why? Probably because of Canada's exposure to the.
B
U.S. i get that.
A
Yeah. Another country that's exposed to the US Mexico with just 10 unicorns.
B
I'm gonna find out more about that for you.
A
Ireland 10. Now Ireland is interesting because a lot of this is probably because of their, their, this ta. Have you heard of this tax thing, it's called the double Irish with a Dutch sandwich. So you notice like whenever you're on a tech company's website and you're like in like the terms and conditions it says like they're a company called the, it's like whatever the company's name and then it says Netherlands ag. That's because they're actually companies in the, in the Netherlands. And the real, the reason for this is because a lot of these super wealthy countries, they, they use this tax evasion, not tax evasion but you know, it's a tax strategy to avoid paying a lot of tax in the U.S. so a lot, a lot of U.S. companies are actually headquartered in the Netherlands and then they, I think they own their IP in Ireland. So if you look at like ip, like a chart of like IP per capita, Ireland is like the leader. And it's because people are using this like tax loophole called the double double Irish with a Dutch sandwich.
B
I love that and I obviously look that up. What is, what's it called again? Double Dutch.
A
Double Irish Dutch sandwich.
B
I don't know how you know that stuff.
A
Double, I don't know, I just pick up random information. Whatever it says. Dutch sandwich is a base erosion and profit sharing, profit shifting BEPS corporate tax tool used by most mostly US multinationals to avoid incurring European Union withholding taxes on untaxed profits as they were being moved to non EU tax havens such as the Bermuda Black Hole is another one.
B
Bermuda Black Hole is something that I need to be a part of.
A
Yeah. Could have originated from within the EU or from outside the eu, but in most cases were routed to major EU corporate focused tax havens such as Ireland and Luxembourg by the use of other BEPS tool tools. The Dutch sandwich is also used with Irish BEPS tools such as the Double Irish, the single malt and the capital allowances for intangible assets or CAIA tools.
B
I got the 10 Mexico, the 10 Mexican unicorns here.
A
Okay.
B
Kavak, which is a used car marketplace.
A
Nice. So basically just like your car van. That's right, yeah. Like in Canada we have clutch auto trader type thing.
B
Well, maybe not a lot of these.
A
Companies are taking over. Like they're taking a different model than Auto Trader, which is just basically a marketplace and they're actually like taking possession of the vehicles. They fix them up a little bit and then they deliver them to you. Like it's really direct to consumer. So that's what Carvana. And Carvana is like an amazing stock market example. Like it literally plummeted and then it's up like thousands of percent since then.
B
Interesting. I just have a tough time.
A
One of the best comebacks in stock, stock market history.
B
Then they got Bitso, which is a crypto company clip which is like Cliff is like their. What's. What do we use here? Square. Yeah, you know. Yeah, the machines. Yeah, that's there.
A
You see this a lot. Like basically people just take call, copy and pasting examples of models that work in the, in the US to bigger markets. Like China has done it, India has done it. Right. So like if you create before Airbnb or Uber can scale to China or India, they'll just create their own version.
B
Right.
A
And then they, you know, it's obviously a very proven market, very proven model. There's product market fit. So they just replicate it in, in their country.
B
Makes sense.
A
Yeah. You see this carana chart though. No, like literally dropped. Dropped what, 97% from 21 to 2023. And then it went back up 2,900%, over 3,000%.
B
Well, so what Carvana is what they, they just, they do that. They pick your used vehicle up, fix.
A
It up, elevated auto train. So it's just a way that they do it.
B
The clutch.
A
Yeah, the clutch is like the Canadian brand version of carvana.
B
So what? Okay, so we know that there's all these very valuable unicorn companies in these countries. What does that do? What does that mean for us or the listeners? For looking to invest, obviously.
A
Yeah. Or move, I think is because we do have a huge portion of our audience. I think more and more of the listeners that I'm hearing from the show are people who actually want to move places or get a second residence in places. And so to me, where do most digital nomads work? Well, most digital nomads work in the tech space. Where are most unicorns coming from? Most unicorns are coming from the tech space. So what, you know, why does this list matter? From my perspective, this is basically your opportunity index of these countries where there's.
B
A good tech scene attracting capital. Yeah, human capital.
A
Yeah, yeah, exactly.
B
See?
A
And a lot of these things. Yeah. And some of the ones that you don't really see here, like, you know, where you would, you, you would kind of assume you would based on the digital nomad moves to, you know, Portugal as an example. But there isn't any unicorns, at least not on this list. It's not in the top countries by unicorn exposure. So. Interesting one. Anyway, should we jump over to another topic here? I feel like we.
B
Yeah, let's roll.
A
Don't need to beat a dead unicorn.
B
Interesting though. I think that's cool. Like, this is stuff that, that I, to be honest, truthfully, would never, never know about. Especially things to consider when you're looking to invest or move just to kind of know what's going on in those different countries. But. Yeah, what do we got next?
A
I'll quickly go through this one. I thought this was kind of interesting. I sent, I just sent you this tweet, but it says I don't want to trigger anybody. But the OECD housing ranking of total affordability size and quality metrics has the US at number one. One can quibble about plenty, but this is not an unimportant fact. If your mental model has the US as an outlier the other way, that needs to be adjusted. And this is, I think, an important thing for, for our listeners because A lot of people right now are wanting to move from the US to the other places that we're talking about. And, and what's the oecd? OECD is Organization for Economic Cooperation and Development. I think it is.
B
What is that?
A
It's basically a list of 35 countries that all collect the same data points from their economy so they can compare against one another. So like GDP per capita, how size of houses, etc.
B
They can just basically a company that collects information across the board all the same and then they can share their data and rank each other. Yeah, Big league. Essentially. It's a, it's the NHL of housing.
A
Yeah. Yeah. Kind of. Well not just housing, it's like everything. Right.
B
Countries.
A
Yeah.
B
Okay.
A
Yeah. For like economics. Right, yeah. So and the interesting part is that a lot of this comes from house sizes. Right. Like if you look at this chart, Canadians I think have the second largest square footage or third largest square footage per capita. Australia. So this is what's the average home size? Square feet. Australia has the largest homes at 2000 square feet. The US has the second largest homes at 1900 square feet. Builds bigger homes, man. For sure. Yeah. And then Canada's at 17. I and I would say that both Australia and Canada are going to be shrinking because of like the immigration based growth. There's, oh, you know, there's excess population growth and houses aren't getting any bigger. They're not, they can't keep up with the demand and so that will shrink your, your house size and your square footage per capita.
B
Do you think that. Sorry to go a little off topic. Do you think that it's. We did get, we did get away from, from building bigger homes to smaller because we just didn't have the space. Do you think that now post pandemic it's going to maybe go back the other way because people are looking for more space. I guess we'd want bigger homes.
A
Yeah. It's interesting. So they actually, they go on here to say how many respondents want larger homes. And this is the interesting part about the US The US is actually the lowest on this list of, of countries. So let's just go through again quickly. Largest average or what's the average home size by country? Australia. This is in order. Australia has the biggest houses, then the U.S. canada, the U.K. fR Germany, Mexico, Spain and Brazil. Then we unpack this list and say how many respondents want larger homes? In the U.S. only 38% of people want larger homes. So you know, they're the most satisfied on this list of, of people, Canada, 42%. And France is the same. Germany, Australia and Spain, all in the 50% range. So half of the population want larger homes. And then you go to the UK, Brazil and Mexico. Over 60% of people want larger homes in those countries. So the U.S. actually is, you know, and it's. Usually you don't think about the US as a country where they're like content on certain things. Right. Especially maybe their house size. Well, you're hearing a lot of people complaining about like, you know, housing crisis, you know, units are crap, whatever. But they still do have this, the second largest home size in the world on an average basis. And 38% of population, well, less than half. Half of the population actually feels like they want a bigger house.
B
Interesting.
A
Yeah.
B
I mean, is that just because they have. They already have big enough houses?
A
Yeah, well, that's, that's the idea, right? That they're content. But like, you know, Canada has. I mean, I guess Canada has slightly lower. And so they, they all want bigger houses, but Australia leads the list. They have the largest houses, average houses, and more than half of the population still wants bigger houses than that. Right.
B
So the Aussie's taking number one.
A
They just want to be the lead in the world with the biggest house.
B
Maybe I'm way off here, but what. Hear me out. Is this. Because I'm just basing this off of what I know I'm not a geography guy, as we all know, but it's like when we're asking people these questions, I feel like the may most amount of people asking the questions in Canada are probably from Vancouver or Toronto, which is notoriously maybe.
A
Yeah, you would have a concentration. Yeah. Concentrated down a bit.
B
Right. And then where. I feel like Texas has a bigger population than Canada. Am I wrong?
A
No. California is bigger than Canada.
B
Okay. So these places, like Texas, California, maybe not California, but I feel like they already have all. They've kind of always had, like, homes and less condos.
A
Well, yeah, yeah, I think. But you could also have the opposite be true where you have, like. Because the US has huge population concentrations in New York and la, you could also have the same thing happening as what's happening in Canada. Right. So I don't know. But, you know, you. Well, you could be right. I don't know. It really depends. The problem is it's a survey, so we really have no freaking clue. Right. But the crazy part is you go to average living area per person on a square footage basis, and the US actually has the largest. So even though they have the second Largest homes, they have the most square footage per capita. Which means. So that's basically you take your average house divided by your average household size. Right. So the US has 656 square feet per capita. Canada has 608, 18 square feet per capita. So Canada's in second. Australia is now in third. 550 square feet per capita. And then you have Germany, France, the UK, all sort of similar in the mid to high 400 range. And then Spain, Mexico, Brazil, in the 300 range in square feet per capita. So that's, you know, 300 square feet per capita. Like we're right now in a 100 square foot room. So 300 square feet per capita. Capita, that's, that's basically you and your partner sharing a 600 square foot unit.
B
Makes sense.
A
You start introducing kids into that whatever. Right, right. Because now you have a three person household. Goes up to whatever. Right.
B
We're not math guys.
A
Well, it goes up to like 900. A thousand. Yeah. I don't think you get canceled for not knowing math calculators. I mean, like, you know, you don't need it.
B
I remember. This is off topic, but I remember my second day of university. I went to criminology and sociology and I wasn't a big academic. I was playing hockey. And the second day in school, the teacher said, take out your calculators. And I said to my person beside me, why on earth would I need a calculator for this class? And she said, well, this is a statistics class. And I packed my bag right there.
A
And I think you've told this story on the show.
B
Yeah, dude, I'm not a math guy.
A
It's a good story.
B
ChatGPT is here for, for, for good.
A
That's it for sure. Should we move on to another one?
B
Yeah, let's go, let's go. Language is spoken. Okay, you want to rip that one?
A
I like that.
B
Yeah, I think that's cool.
A
Yeah.
B
Fired up.
A
World's most spoken languages. What do we got here?
B
Obviously number one, English, which is kind of known.
A
And this is percent share as a first language. So.
B
Mandarin, I guess that makes sense. Mandarin. Number two. Three. Hindi. Four. Spanish. Five is standard Arabic. Six. French. Seven. Bengali. I don't know what that is. You? Thai?
A
I'm not sure. Where do they speak Bengali?
B
I don't know. We're gonna find out. Number eight, Portuguese. Nine. Russian.
A
So Bengali, also known as Bangla, is a language spoken by approximately 242 million people in Bangladesh and India.
B
I was way off. All right, that's okay, well it has the little writing underneath it, which is kind of confusing. No. Do you see that?
A
Yeah.
B
You can see where I'm coming from. From. No. Give me something.
A
Yeah.
B
Like I. Yeah. Anyways, let's, let's, let's continue on.
A
Let's quit while you're at.
B
Yeah, we left off at number nine, which is Russian 10, Indonesian 11, Urdu.
A
And we got a couple guys in the Officer speaker two.
B
Come on.
A
Like. Yeah. India, Pakistan.
B
Interesting. That's some cool writing.
A
Yeah, it is cool.
B
I like that. Yeah. I just never like, I'm not. I'm trying to learn Spanish and even that for me is just a complete challenge. But that's okay. Yeah. Let's go. Fire me up. Drill it in. I'm going sideboard. Yeah. Nah. Control me.
A
Watch it. Black mirror.
B
Have you. I sent you the. I sent you the tick tock of that very eerie tick tock thing where it's like, I'll send it to you again. Basically it's a, it's a, a video of robots and it's like over creepy sound and they're like, you know, we, you. You traded your memory for this and blah blah, blah. Freaky stuff, man. I mean I, I would do it, I think, but I'll settle. Actually I think I'd settle for just the glasses and like some AirPods that just translate real time. I think those are on the like the cusp of coming out.
A
Yeah, I feel like that's. Yeah.
B
I think they have some versions of this.
A
Makes sense.
B
Yeah. Because I can't speak Spanish. I'm trying. What gets me is that they have like, I'll be understanding, you know, they'll do present tense and I'll get it. But then you introduce like future and past and you're like, you're like, I'm.
A
Living in the moment, boys.
B
I'm in Saloom.
A
Yeah, I'm in the moment. Don't talk to me about the future of the past. Okay.
B
I'm in the present. Okay. We left off at 11 Urdu, 12 German, 13 Japanese, 14 Nigerian pigeon, 15 Egyptian, 16. Marathon Marathi.
A
I don't know what that is. Neither do I. Marathi is how I would have read it.
B
But Marathi does sound. It sounds really cool saying like that.
A
Classical Indo Aryan language predominantly spoken by Marathi people in the Indian state of Maharashtra. That's wrong. I said that wrong for sure. And it's also spoken in Goa and parts of Gujarat.
B
Interesting. It's interesting that that piss so many.
A
People off with our just like absolute unworldliness.
B
The Marathians are going to be livid if you're. Is it a Marathian?
A
I guess. Yeah. I don't know. That's the language.
B
Pretty sick handle.
A
Yeah. Marathi people.
B
That's sick.
A
Sick. Yeah. Like, sounds like a.
B
Like a war clan 100, I'm thinking.
A
Yeah. Yeah. I would be afraid of that.
B
Yeah.
A
Game of Thrones or something like. Yeah. You don't want to not f. With that.
B
Interesting that that's ahead of. Of the Vietnamese language, which is number 17 Tel. Telugu.
A
Where's that? Like 18 Telugu. Nice.
B
19 Hausa. 20 Turkish. Interesting. 21. Western Punjabi. Interesting. These are down here. 22.
A
They are like smaller groups of people within larger country countries. Like in Canada we feel like, because we have like a lot of migrants from the Punjab region of India, like we feel like that's like a big portion of the Indian population, but it's not. Right. Like Hindi is the biggest language spoken in India and the third largest language spoken in the world. Right. So just not a lot of them, not as many of them migrate here relative to the number of people from Punjab that. That moved to Canada.
B
It's also. English is also the biggest share in the second language.
A
Makes sense. Yeah. Oh, that's what that. That's what that other one is. So 25.5% speak it as their first language, whereas in Mandarin it's like the biggest first language. Right, Right.
B
Interesting. Just to wrap it up, I guess.
A
That is like, I mean, everybody speaks English as their second language or like, you know, a lot of people do because like there's that whole Western world where you need English to kind of do all that stuff.
B
Then we have what Western Punjabi. 22 Swahili, 23 Taralog, 24 Tamil. Tamil, man. I was trying to go with.
A
It's another Indian one, but see 25U.
B
Y U E, which is Chinese. But I think it says at the bottom here, Yu. Chinese includes Cantonese.
A
Right.
B
And there's a bunch of very, very.
A
They probably just stripped it out to make English number one.
B
Yeah. Varieties of micro languages like Arabic, Mandarin and Persian are listed separately. Interesting. It's interesting to try. Like when you're traveling around the world, obviously English is. Is the most spoken, but. Yeah, interesting. I, I would. Man, if I knew Mandarin, I'd be doing all.
A
It's so funny. Like we, we were talking to Labid who's like at the office here, and do you remember when, like they were going to Ban TikTok? Like it was like, it looked like it was imminent. Like within days I was, I was. And then Everyone was, like, using this app called Red Dot. Were you on it, too? Were you part of that? No. Yes. But it was funny because they were doing it, like, as a joke to be like, oh, hey, like, you know, we're not afraid of, like, the Chinese government spying on us. Like, we'll just join this, like, fully Chinese app. But he was saying he was, like, on Red Note, and he's like, man, the quality of life in China seems amazing.
B
I remember when that came out, everyone was like. Because people got a glimpse, like, China, right?
A
Yeah. Like, beyond the great firewall of China. And it's like, wow, like, they're doing it big over there.
B
I still think. I still think that something changed in that time. I think that was a big scandal for something to happen.
A
And the algorithm changed, started D ranking, all of Dave's content.
B
So Whoever's listening at ByteDance over there, if you got the connections. I actually did some.
A
I don't think it did that well, to be honest, but they shout out to Tencent. Their AI is actually insane. If you ever get the chance to use it, you can, like, create a video game rendering of yourself, like, in. In, like, minutes. Like, you put a photo in and it'll make, like, you into a 3D video game character, which is crazy. Yeah. So there you go. Now they got two. Two for one deal on their influencer.
B
Partnership site right now. Cool.
A
Yeah.
B
We just dropped some facts for everybody there. Today was an episode of one that was just fun.
A
That's. Dan and Dave learned geography again.
B
Dan and Dave learned geography of what languages are spoken and what is a unicorn in real estate. Most importantly, we wanted to see if this worked in person, which, so far it's good.
A
So far. So good.
B
So far.
A
I think post production is going to be the problem because we have two mics in close proximity to one another. But we'll figure that out. That's. That's another.
B
We're going to do, like, different. Different rooms.
A
No, we'll. We'll figure it out. We just got to. We just have to get a proper mixer. Right now we're using Riverside as a mixer, which we know from earlier episodes, which many of you have graciously complained about. It doesn't always work that well, so.
B
But we've come a long way.
A
Yeah, we have.
B
We've come a long way in this.
A
Our episodes aren't that bad. I listened to one on the way here, driving to the office, actually, and it was. It was decent.
B
We had a cool. Really? We had that Tara on. She was really cool. We have so many cool guys.
A
I listened to that episode as well, actually. It was good. Yeah. We got to just keep doing cool guests. I was thinking about this, like, honestly, on the way here, I was like, I want to get somebody from China to talk to us about China and their real estate market. That would be cool because they don't have a lot of investment. They don't have a lot of, like, immigration, stuff like that.
B
I don't know.
A
We'll find somebody. If you're. If you know anyone from China who would want to come on the show and talk about the real estate market in China, because they just went through a huge crash. Like, huge.
B
I would love that.
A
Yeah, same man. I would love to learn what's going on in any country. Like, literally, that's my favorite part about the show, is just, like, talking to people about random countries around the world and figuring out how real estate works there, because it is so different country by country. Like, so different, you know?
B
You know what's a shame is, like, one of our first episodes before we had some of the following that we have now on. On Spotify and Apple Music is like, we had this Australian realtor on who is.
A
Oh, he's gonna come back for sure.
B
We gotta get him back. If you're listening to this episode and. And you haven't listened to all of our episodes, shame on you. No, I'm k. But go back and check out Dan Lee Plum. Yeah, this guy is so fun. He was. He came on the episode mid. What do they call Cyclone?
A
Cyclone.
B
They don't even call them hurricanes in Australia. They call them.
A
Because they spin backwards.
B
That's right. And he came on. He gave some really cool information about what's happening in Australia. But if you're. If you're listening to this and you're following this podcast, first of all, thank you. But second of all, check some of our older episodes. Maybe the. The audio quality might not be as good because old Davey was in Mexico and the Internet sometimes isn't the greatest, so bear with us on that aspect of it. But our guests were great, and we had some really good information, and we'll continue to do that. Honestly, that's our goal. So on that note, if you're from anywhere in the world selling real estate, investing in real estate, know about the real estate market, come and check this podcast out, Give us a message, send us a message, send us an email, and we'd love to have you on the show. It's. It's cool for everybody around the world to kind of see what's happening in your market, and it's some good exposure for you as well. I think that global investing and the reason we made this podcast was just to get this information out to everybody and be a resource and the go to podcast for people that are curious, looking to invest globally or just want to learn some information or just hear me and Dan ramble for upwards of an hour. That's why we made this podcast. So, yeah, awesome, amazing.
Real Estate Without Borders - Episode Summary
Title: Which Country Has the Biggest Houses?
Host: Real Estate Without Borders
Release Date: August 6, 2025
In this engaging episode of "Real Estate Without Borders," hosts Dan and Dave delve into the intriguing intersections between global unicorn companies, housing trends, and linguistic diversity. They navigate through complex economic indicators, offering invaluable insights for American investors looking to expand their real estate portfolios internationally. Here's a detailed breakdown of the episode's key discussions:
Timestamp: 00:00 – 05:22
The episode kicks off with a deep dive into the concept of unicorns—privately held companies valued at over a billion dollars. Dan defines a unicorn succinctly:
Dan ([00:26]): "A unicorn is basically just a company that is exceptional at getting to that 1 billion valuation."
Understanding the distribution of unicorns across countries serves as a barometer for economic vitality and investment potential. The United States leads the pack with a staggering 793 unicorns, followed by China (284) and India (88). This dominance underscores the U.S.'s robust entrepreneurial ecosystem and its capacity to nurture high-value startups.
Timestamp: 02:43 – 07:37
The hosts explore the significance of unicorns in different nations, highlighting SpaceX as the most valuable U.S. unicorn at $350 billion. They also discuss other notable unicorns such as ByteDance in China ($220 billion) and Reliance Retail in India ($100 billion).
Dave emphasizes the role of Artificial Intelligence (AI) in attracting capital:
Dave ([06:02]): "AI is definitely like, it's really good at attracting capital. Right. So if you want to get a high valuation, being an AI company is an easy way to do that."
The conversation touches upon the success rates of incubators like Y Combinator and Thiel Fellowship, noting that these programs have significantly propelled companies to unicorn status, albeit with varying success rates.
Timestamp: 07:37 – 13:36
Dan and Dave discuss the Unicorn Index as a critical tool for investors to gauge a country's ability to generate wealth. The overwhelming number of U.S. unicorns positions the country as a dominant economic powerhouse. They also highlight the concentration of unicorns in tech hubs such as San Francisco, New York, and Palo Alto, which are pivotal in fostering innovation and attracting top-tier talent.
Dan ([05:37]): "The US is off this chart. Right. Like it's just a, it's just a line at the top."
The conversation extends to other countries like the UK, Germany, France, and Canada, each contributing significantly to the global unicorn landscape. The discussion underscores the importance of AI and blockchain technologies in shaping the future of these high-value companies.
Timestamp: 13:36 – 20:35
Shifting focus to real estate, Dan introduces the OECD Housing Ranking, revealing that the United States tops the list in terms of housing affordability and size metrics. Contrary to common perceptions about the U.S. housing market challenges, the average home size stands at 1,900 square feet, making it the second-largest globally.
Dan ([14:11]): "Australia has the largest homes at 2000 square feet. The US has the second largest homes at 1900 square feet."
The hosts analyze satisfaction levels regarding home sizes, noting that only 38% of Americans desire larger homes—a lower percentage compared to other countries like Australia and Canada, where over half of the population seeks more spacious living arrangements. This metric serves as an indicator of market saturation and potential demand for future real estate investments.
Furthermore, square footage per capita adds another layer to understanding housing trends:
Dave ([19:04]): "So the US has 656 square feet per capita. Canada has 608."
These statistics provide a nuanced perspective on housing availability and consumer satisfaction across different nations, crucial for investors assessing market viability.
Timestamp: 20:35 – 26:21
In a segment bridging economics and cultural dynamics, the hosts enumerate the world's most spoken languages by first-language speakers:
Dan offers an insightful explanation of lesser-known languages like Bengali:
Dan ([21:20]): "Bengali, also known as Bangla, is a language spoken by approximately 242 million people in Bangladesh and India."
Understanding linguistic diversity is paramount for real estate investors aiming to navigate different markets effectively. Proficiency in local languages can facilitate better negotiations, marketing strategies, and relationship-building with stakeholders.
Timestamp: 26:21 – 29:17
The episode concludes with Dan and Dave reflecting on the podcast's production quality and planning future content. They acknowledge the technical challenges of recording in-person and express enthusiasm for featuring global guests, particularly from markets like China, to provide firsthand insights into international real estate trends.
Dave ([27:07]): "If you're from anywhere in the world selling real estate, investing in real estate, know about the real estate market, come and check this podcast out."
They also encourage listeners to revisit previous episodes for a comprehensive understanding of global real estate dynamics, highlighting the value of diverse perspectives and expert interviews.
Conclusion
This episode of "Real Estate Without Borders" adeptly weaves together discussions on unicorn companies, housing statistics, and global languages, offering a multifaceted view of the international real estate landscape. By analyzing economic indicators and cultural factors, Dan and Dave equip their audience with the knowledge needed to make informed investment decisions across various global markets.
For investors and real estate enthusiasts alike, this episode serves as a valuable resource in understanding the complexities and opportunities that come with global property investing.