It’s notable, but the question of why that is so and whether that’s problematic is not as clear cut as it seems to be. For example, germany has a traditional in

It’s notable, but the question of why that is so and whether that’s problematic is not as clear cut as it seems to be. For example, germany has a traditional industrial base that consists of mid-size, often family-owned businesses. We even have a word for it - Mittelstand. Quite some are world-leaders in their field. Whether that’s a good or a bad thing is certainly open for debate, but it’s not as simple as “no unicorn startups in germany - fail.” TL;DR: it’s complicated.