[jimmyswimmy]

Interesting that all but two of the listed startups were software companies (FedEx, Tesla). I imagine the costs of fixed investments required to scale a company not based on software can reduce the potential max returns quite substantially. Can a non-software company achieve the kind of returns a software company can?

[threetonesun]

I would say mostly no, which is exactly why software gets so much investment and has seen so much growth, especially 15-10 years ago when it suddenly became possible to address the entire world with very few regulations.

The runner up darling child (outside of questionable financial products) seems to be biotech, whose heavy regulation and complex supply chain issues are offset by almost everyone in the world's desire to not die.