Did you know that there are almost 60 million millionaires around the world?
That's around 0.77% of the entire population.
Out of those 60 million, over 20 million are all located somewhere within the United States.
The United States has a massive population of over 330 million people with a new millionaire being created every single day.
It's said that 51% of the whole world's consumer spending comes from the USA - which is believable when we look at the statistics in general.
A few weeks ago, I was watching a YouTube video where a group of British YouTubers were talking about how they would be a lot more successful had they been located in the USA.
It got me thinking because this topic also comes up a few times when I'm speaking to people I know like my friends or my girlfriend.
Surprisingly enough, it's not a topic I see on the internet too often - in fact, it's a topic I haven't managed to find anything on.
The chances of becoming successful on social media just seem to be a little higher when you're a US resident compared to anywhere around the world.
When we compare the ratio of successful YouTubers or social media influencers and celebrities by country, we see a clear distinction - a large majority of these individuals come from the USA.
Is this anywhere near the truth, however?
Is it actually easier to become successful when you're located in the USA or is it just a matter of seizing the opportunity?
Let's dive into this
In the USA, it seems like people are a lot more likely to know each other.
Although the population is massive, and a lot bigger than many other places around the world like the UK, for example, with only 60+ million people, they seem a lot more connected.
I'm a massive basketball fan.
With that, I often find myself browsing YouTube and watching basketball videos in my free time, during lunch, etc.
It almost seems like every basketball YouTuber or TikTok star knows each other and has done some sort of collaboration at one point or another.
This makes it much easier to be successful - when two people with a following work together, there is an almost guaranteed mutual benefit.
On top of that, a seemingly new basketball Youtuber with a following of around 100K subscribers managed to do a basketball collaboration with Drake, the Canadian rapper.
However, when we look at somewhere else in the world, it's a lot less likely to find the same patterns or behaviour.
Once again, let's look at a very popular means of content creation - podcasts.
Podcasts are a great way to build a community of people who are interested in the same topics as you.
There are tons of podcasts all over the world, some of the biggest being in the USA.
For example, one we might all know is the Joe Rogan Experience - a podcast run by none other than Joe Rogan.
Joe is likely one of the biggest influencers and podcasters around, ever.
He has a self-asserted reach of over 200 million monthly listeners on Spotify.
When we take a closer look at JRE (The Joe Rogan Experience), we might be able to pinpoint the reason why this podcast is so successful.
If you're unfamiliar with who Joe is, you might have seen the clip or the meme of Elon Musk smoking.
That was all on the Joe Rogan podcast!
Joe is able to get any guest he wants booked onto his podcast due to his massive reach, making it easier to grow his audience.
Is his audience the reason?
Or maybe it's the fact that everyone he's able to book on the podcast is also a resident of the USA?
Are there really any barriers stopping someone from the UK (for example) from doing the same thing?
It's just a lot less likely to get Elon Musk on your podcast if you're in the UK or anywhere else.
There's a common saying in the entrepreneurial world of technology which says, "you need to go to Silicon Valley to build a tech startup."
Not long ago, I decided to get into the tech industry after realising the massive upside to it.
Tech is booming and those who get in are likely to succeed.
More people and businesses are quickly shifting towards tech.
With no inventory, like in eCommerce, you're able to build a single product and sell it over and over again on a monthly basis to businesses for a small fee.
This brings about higher margins and easier scalability.
It sounds like the perfect model for me - high margins are music to my ears and scalability is just the icing on the cake.
After doing my research and looking for possible ways of entering this seemingly packed market, I kept seeing a pattern.
There were a bunch of business incubators and accelerators - however, some of the most successful were all based in the USA.
Ever heard of Y-Combinator?
It's the most successful startup accelerator in the world, responsible for companies like Stripe, Airbnb, DoorDash, Coinbase, Dropbox, Twitch, and Reddit.
They've single-handedly helped launch over 3000 companies and counting.
Everyone seemed to say the same thing - "looking to build a tech startup? Come to Silicon Valley."
Silicon Valley is the hub for tech startups, a place in San Francisco responsible for some of the world's biggest tech companies.
In Silicon Valley, you're able to build businesses around a massive community of others doing the exact same thing as you.
You can build tech companies with the help of other entrepreneurs and even easily find investors willing to help bring your business to life.
Although I disagree with taking investment (personally not how I like to run businesses), it makes it a lot easier when you're able to be in a community full of them.
Don't get me wrong, the opportunity will always be there if you look for it, however, in Silicon Valley, it's just 100X easier to build, launch, and scale tech startups.
Imagine you're a brand new entrepreneur who just jumped into the world of business.
Would you find it easier to succeed in boring old London, or in Silicon Valley where you're surrounded by 100s of other like-minded people, and a bunch of investors ready to throw their money at you?
"If you want to go fast, go alone, but if you want to go far, go together."
Anyone around the world can decide to give entrepreneurship a go - but it's those with the mindset, the support, and the community who are able to pull through in the long term.
Different spending habits
The USA is known to be an expensive place to live with some of the biggest states like California, New York, Florida, etc.
Imagine you're a resident of Manhattan where the average rent for a small apartment is over $4000 per month.
You're going to have to be making close to six figures per year in order to afford a decent lifestyle.
With that said, it's a lot more common to find people earning six figures or more in the USA.
Due to higher costs of living, you're forced to earn more in order to provide for yourself or for your family.
I used to find it strange how people in America complained about making $80K and up until I realised how much it costs to live there.
With a rent of around $4000 and up (in Manhattan), this is likely the least of your problems.
Other factors like travel, medicine and hospital bills, food, and utilities would likely make up another couple of grand per month.
Without focusing on Manhattan, likely one of the most expensive places to live, the average monthly household expenses total over $5000 across the states.
With higher costs of living, people are expected to make more money, and so spend a lot more money too.
Like we mentioned at the start of this article, it's rumored that the USA makes up around 51% of the whole world's consumer spending.
Walking down the streets of an American city, it's a lot more likely that you'll spot a supercar or someone dressed in luxury.
See, although expenses are much more rampant in the USA, this does not stop residents from splurging on their own personal needs and wants.
One of Netflix's most popular shows right now, Selling Sunset, is a great representation of this.
It's the ideal explanation of this concept embodied by a group of real estate brokers living a lavish life in Los Angeles.
In each episode, we're able to see how a lot of Americans spend their days giving us a rough idea of what spending habits could be like in the United States.
Those were 3 reasons why it might be that your chances of success are better in the USA than in other places in the world.
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