Site Loader
Canada

Shopify's Tobias Lütke on Canada’s "go-for-bronze" mentality ironically echos long standing frustrations

Tobi has struck a vulnerable nerve with his painfully accurate comment that Canada has a cultural problem, a “go for the bronze” mentality.” He is not the first to point out Canada’s lack of clothing WRT commitment and investment in innovation and entrepreneurship. Canada frankly has never been keen on risk capital. It’s just not Canadian, eh? Tobi joins Richard Florida and other Canadians in making similar awkward observations. The greatest irony is that Tobi’s remark that we need an “Own the Podium” program for Canadian innovation, was first proposed by former UBC President Arvind Gupta in a Vancouver Sun editorial some 10 years ago. Predictably, nothing has happened since then, and nothing will likely happen now.

Investment

Canadian Tech Out of Touch With Global Entrepreneur Ecosystem

This is yet another excellent article questioning the Canadian tech industry’s appreciation of its significant deficiencies and challenges. It reflects my own view after much research and many interviews. It is also the view of UoT Professor Richard Florida who published a similar article in the Globe & Mail recently. Venture capital is anemic, but many also believe that there is a lack of scale-up management talent. Another factor is deeply-embedded Canadian conservatism, as evidenced by the bizarre entry of high street banks’ debt offerings to entrepreneurs. 

Investment

Are These Canadian Banks Simply Offering Dumb Entrepreneurial Venture Debt?

In one of the more bizarre recent articles on the state of the Canadian venture investment market, The Globe & Mail offered this story of the entry of Canadian commercial banks like CIBC, RBC and TD into the world of entrepreneurial finance. Not more than a few weeks ago, Toronto University Professor Richard Florida also published an opinion piece in the Globe & Mail, in sharp contrast which is entitled “Canada is losing the global innovation race”, describing the long term decline of Canadian venture capital and decades of poor investment in basic R&D compared to its other OECD industrialized nations.  Recently, a colleague in Canadian venture capital told me of his retirement, citing the enormous difficulty his firm had raising capital from the Canadian financial industry. This is prima facie evidence of how disconnected Canada is from the reality of entrepreneurial finance and venture capital. The Canadian financial industry mindset is Problem One. Name another major entrepreneurial ecosystem that operates like this.

Virtual Reality

Integration of AI, IoT and Big Data: The Intelligent Assistant

Five years ago, I wrote a post on this blog disparaging the state of the Internet of Things/home automation market as a “Tower of Proprietary Babble.” Vendors of many different home and industrial product offerings were literally speaking different languages, making their products inoperable with other complementary products from other vendors.  The market was being constrained by its immaturity and a failure to grasp the importance of open standards. A 2017 Verizon report concluded that “an absence of industry-wide standards…represented greater than 50% of executives concerns about IoT. Today I can report that finally, the solutions and technologies are beginning to come together, albeit still slowly. 

China

Updating My Smartphone Market Analysis: The Market Is At A Strategic Inflection Point

NOTE: My original post, originally published in January 2013, continues to be one of the most viewed on the site.  Android and Apple have enjoyed an estimated 98% market share between the two, and many of my earlier projections regarding this market appear to have been borne out. However, the smartphone market has now matured to the point that it is at a strategic inflection point which has major implications for the future of this market and the major competitors. The rapid maturation of the smartphone market should have been foreseen: the rise of domestic Chinese competition combined with the predictable end of the Western consumer fascination with “the next smartphone”

Global

Richard Florida Writes That Canada Is Losing The Global Innovation Race – Globe and Mail

I was very interested yesterday to read the article in the Globe & Mail by University of Toronto Professor Richard Florida, and Ian Hathaway, Research Director for the Center for  American Entrepreneurship, and Senior Fellow at the Brookings Institute. The article by Florida and Hathaway draws the same conclusions as my research, providing even more precise data to support their disturbing conclusions. It is not hard to find many additional articles on these issues.  Ironically, also yesterday, a LinkedIn connection shared a post by Sciences, Innovation, and Economic Development Canada with a very upbeat, positive assessment of venture capital for startups in Canada. This is the essence of the problem. Since I came to Canada years ago now, I have seen a pollyannaish state of denial about the true situation for entrepreneurship, immigration policy, and the lack of “smart” venture capital for Canadian startups. No amount of counter-evidence has changed this mistaken rosy outlook. Without a recognition of these problems, nothing will change. 

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 339 other subscribers

Category Cloud

5G advanced semiconductor technology Alberta Anonymous Argumentation & Debate Artificial Intelligence Asia Augmented Reality autonomous vehicles Banking and Investment Big Data Big Ideas Blockchain Brazil British Columbia Business Ethics Canada Canadian innovation Canadian venture capital Carbon Career Development Charlie Hebdo China China Clean tech Climate Change Research Communication Computer graphics Corporate Culture Corporate Fraud Corporate governance Covid-19 Cryptocurrencies Cuisine cyber attacks Cyber Intelligence Data Analytics Database Architecture Database Management Data Centers Data mining Derivatives Digital Currencies Donald Trump e-commerce e-learning Earth Hour Economy Economy Education Enactus Energy Efficiency Energy harvesting Energy Harvesting Entrepreneurship entrepreneurship@UBC Environment and Lifestyle eReaders Espionage Ethics Europe existentialism Faculty of Management Financial markets Flash trading Flywheel Foreign Exchange France France and My French Culture French Tech Gaming gender issues Global Global Climate Change Global Culture Globalizatgion Globalization Global politics Global Populism Google Hacking Higher Education hippies home automation Home automation home office Housing market Human Resources India Industry Analysis Industry Standards Industry Trade Shows Innovation Interactive TV International Business International Relations Internet Infrastructure Internet infrastructure Internet of Things Internet Privacy Internet Security Internet Traffic Policy Management Investment IoT ISIS IT Management Jazz Julian Assange La French Tech Law Enforcement Leadership LIBOR life Lyft management Marketing mayo615 Mayo615 Technology Partners memristors Mergers & Acquisitions Mobile Mobile OS Monopoly Montana Near field communication Negotiation Net Neutrality New Zealand New Zealand Economy NSA Nuclear Fusion Online Education PC PC Personal Stuff Photography Physics Politics Privacy Product Marketing Product Vision Provence public relations Quantum computing quantum computing quantum encryption Quantum physics Quantum physics Racism Renewable Energy RFID ride sharing Rugby Rugby League Rugby Union Russia San Francisco 49'ers San Francisco Bay Area San Francisco Giants Sauder School of Business Science and Technology Search Engine Optimization Semiconductors sexual harrassment Sharing Economy Silicon Valley Silicon Valley Culture Smart Grid Smart meter Smart Mobile Social entrepreneurship Social Media social media Social Media Marketing Software Development Strategic Inflection Points Strategy Sub-prime mortgage Super Bowl Supercomputers Surfing Sustainability Tax havens Technology Assessment Telecommunications telecommuting Terrorism The Cloud The Cloud Total Online Presence Travis Kalanick UBC Uber Uncategorized United States User Interface Vancouver Venture Capital venture capital Videoconferencing video conferencing Virtual Reality Water Wifi Wikileaks Wine wireless data communication Work From Home World Wide Web
ArabicChinese (Simplified)DutchEnglishFrenchGermanHindiJapaneseKoreanSpanish