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Vancouver Real Estate Foreign Money Laundering: Nothing Has Changed


Despite all of the revelations of the sources and methods of the Vancouver housing bubble over the last two years, the situation remains largely unresolved. Ditto in Toronto. The foreign buyers’ tax has had only a limited effect and has problems. Fueled by dark foreign money housed in anonymous offshore shell companies like those disclosed in the Panama Papers, the money is managed by local financial manipulators at the behest of unidentifiable persons overseas. The foreign buyers continue to enjoy the weakest enforcement jurisdiction in Canada

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University degree no longer comes with promise of stable job


The unwritten promise of a post-secondary education has been to earn a degree in an applied field such as engineering and you’ll end up with a good, stable job, but the millennial generation is finding that can no longer be counted on. I have been thinking about this issue for some time. Last year, I posted an article on this blog by Robert Reich, Professor of Economics at UC Berkeley and former Secretary of Labor under Bill Clinton. I was stimulated to share that article by what I was seeing with my own students from the University of British Columbia, and contrasting that with my own experience years ago, walking into my Silicon Valley dream career by sheer chance. That simply no longer happens. Grads must begin plotting out a plan early, no later than the beginning of their third year, and begin to execute on it in order to find an entry-level position commensurate with their education. Networking and cold calling is imperative, but as this article points out, even that may not guarantee solid employment.

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Vancouver Technology Industry On Verge Of New Era


The Vancouver technology industry may well be on the verge of an extraordinary period of growth. Global, national, and regional factors appear to be aligning in ways that could create an extraordinary economic opportunity for the Lower Mainland which could not have been anticipated. Vancouver has been an endless topic of discussion about its comparability (or not) to Silicon Valley, the historical Canadian investment conservatism, and the lack of other resources necessary to create the “secret sauce” that makes a region achieve critical mass. That may be changing if only the convergence of factors is grasped and exploited.

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Why The Biggest Tech Companies Are Not In Canada


Mayo0615 Reblog from July 22, 2013 It dawned on me that my blog post from July 2013, still has particular relevance to the current situation in Canada. I discuss the longer term structural issues confronting Canadian entrepreneurs and Canadian venture capital. Boris Wertz, founder of Vancouver’s Version One Ventures is also crucial to this discussion. […]

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The Okanagan Never Has Been, And Never Will Be, Silicon Valley: A Lesson From New Zealand


UPDATE: This post from February 21, 2016, is being republished in the light of the announcement that Club Penguin is closing its doors in March. No amount of PR spin, arm waving, or equivocation can make the bitter truth of this post go away.  I note that Lane Merrifeld and Accelerate Okanagan have been conspicuously silent. […]

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Canadian Startup Case Study Underscores Canada’s VC Challenges


UPDATE: It is worth noting that this 2012 case study on a company in British Columbia, Mobile Data International, and its CEO Barclay Isherwood, attracted the ire of followers of Werner Erhard, prominent San Francisco New Age cult leader, with similarities to L. Ron Hubbard, founder of Scientology.  It is a lens into New Age cults at that […]

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Tough Love From Silicon Valley For Tough Times


Heidi Roizen is a very well-known Silicon Valley venture capitalist and entrepreneur. I first met Heidi years ago at a European COMDEX event in Nice when she was still in her entrepreneurial phase. Since that time she has gone on to fund numerous startups, and is now a Partner at Draper Fischer Jurvetson.  In this […]

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British Columbia: The ‘Wild West’ of Canadian Political Cash – NYTimes.com


British Columbia has no limits on political donations, leading critics to say the provincial government has become a lucrative business dominated by special interests. As the premier of British Columbia, Christy Clark is on the public payroll, pulling down a salary of 195,000 Canadian dollars in taxpayer money. But if that were not enough, she also gets an annual stipend of up to 50,000 Canadian dollars — nearly $40,000 — from her party, financed by political contributions. Personal enrichment from the handouts of wealthy donors, some of whom have paid tens of thousands of dollars to meet with her at private party fund-raisers? No conflict of interest here, according to a pair of rulings last year by the province’s conflict-of-interest commissioner — whose son works for Ms. Clark.

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Canada’s Open Door to Tax Fraud, Money Laundering


How many shell companies exist in Canada? How many legal trusts? Who are the beneficial owners protected by such unnecessary veils of secrecy? No one knows because in most cases there is no legal requirement to disclose actual ownership even to regulators. In fact, more information is required to get a library card than to set up a company in most jurisdictions in Canada. What we do know is that Canada ranks near the bottom among our OECD partners in terms of corporate disclosure requirements to fight money laundering and tax evasion. A recent report from Transparency International detailed the dismal situation and why our country has become a haven for dubious offshore property speculation.

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Uber Is Still Trump


UPDATE: This February 3, 2016 post on Uber deserves an update. This week Uber announced that it lost $800 Million in its 3rd quarter. That’s correct, $800 Million in only three months. The Uber announcement tries to spin the loss as good news for Uber as ” increased by only 25% over the third quarter last year. An $800 Million quarterly loss is right up there in the same league with Trump lost money. I guess we need to remember Trump’s admonition that debt is good, and it’s ok to lose other people’s money. Uber’s announcement goes on to project continuing losses projected to be greater than $3 Billion next year, as Uber continues its plans for an apparent IPO for brain dead investors.

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