Los Angeles Has 5 Percent Of All Unicorns, Says Report

Los Angeles has 8 percent of all the "unicorn" companies globally, according to a new study released Wednesday by the University of Southern California's Marshall School of Business. According to USC Marshall, it tallied up the numebr of startup companies with $1 billion valuations, as a measure of business activity, and found that Silicon Valley had 39 percent of Unicorns, followed by New York (9%), Beijing (6%), Los Angeles (5%), Boston (4%) and Shanghai (3%). The study's authors said that "Unicorns" in a country or region signals the creation of new wealth, embodies radical innovation, and the potential for disruptive market change. The school said the study companies as a unicorn if they exceeded a value of $1 billion during any month between January 2014 and the end of 2015.