One issue with this method is that the Fortune 500 has companies in it that are hundreds of years old. Only 26 of them were founded this century[1]. Alexander Hamilton founded one of them.

The circumstances today could be somewhat different. That said, as a non-american looking at starting a company, America still looks like a pretty great place to do it, to the extent that I still sometimes think of moving.

[1] https://fortune.com/longform/fortune-500-through-the-ages/