Some of the world’s top tech companies are based in the U.S. Among the blue chips a few of them were founded less than 50 years ago. Most of the Australian blue chips on the other hand, were founded in the 19th century. Only one of them was founded in the 20th century in 1924.
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Source: Adapting to the force of disruption starts from the top down, Finfeed, May 3, 2016
NOTE: Amazon(AMZN) was actually founded in 1994 and not in 2004 as shown in the graphic above.
Like Canada, Australia is also a commodity-based economy. Hence much of the lucky country’s wealth simply comes from digging stuff up from under the ground and selling it to others especially China. Hence things like world-class innovation, risk taking and a robust startup culture similar to the one in Silicon Valley is practically non-existent.
Disclosure: No Positions