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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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Risk of Global Financial Contagion Is Growing


Wall Street is currently basking in a vigorous “Trump rally,” with the Dow rising more than 1000 points since the election. The rally is driven by analysts who are salivating over the future prospect of sweeping deregulation of many markets. But there is also chorus of concern from dozens of financial experts, that the global financial markets are “whistling in the graveyard,” acting in a classicly irrational manner. Experts cite a host of issues both financial and geopolitical, among them Trump’s intention to exit TPP, NAFTA, and the COP21 Climate Agreement. Combined with rising geopolitical tensions with China, North Korea, and Iran, a perfect storm of global uncertainty and instability is forming.

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Chinese company Anbang Insurance to buy B.C. retirement home chain


Reading this article today, I am dumbfounded that Anbang managed to get this far in the purchase of B.C. commercial real-estate without red flags going up. This mysterious Chinese company, Anbang Insurance Group has attracted the attention of The New York Times, The Wall Street Journal, Forbes, Fortune Magazine, and government authorities in the United States and other countries. A months-long investigation by the New York Times revealed an extremely opaque structure, empty offices, obscure shareholders, and extensive political connections to the Chinese elite. Anbang has all the earmarks of Chinese money laundering, corruption at the highest levels, and mysterious shell companies. It is a cautionary tale for Canadian authorities fretting over foreign real-estate buyers and skyrocketing real-estate prices.

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The Collapse of the Trans-Pacific Partnership


The Trans-Pacific Partnership began modestly years ago with New Zealand and a few other southeast Asian countries and mushroomed into a Pacific regional plan as the cornerstone of Obama’s pivot towards Asia. It has attracted the ire of both left-wing progressives and now Donald Trump, who has announced his intention to cancel U.S. participation in TPP. The criticism has ranged from it being part of the New World Order conspiracy to loss of jobs, damage to the global environment, and a host of other issues. It is considered to be a crucial factor in the populist revolt against so-called “free” international trade, and the rise of protectionism. Regrettably, it will likely go ahead in some form, regardless, with China in the leadership role, not the United States. The probable consequences of this are grave

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Immigrants Will Think Twice About Coming to Silicon Valley


Since I joined the high-tech industry years ago, Silicon Valley has had a fundamental need for highly educated engineers and scientists that could not be filled by American graduates. This reality has been bemoaned by Congressional politicians for decades now, who have essentially done nothing to increase the emphasis on STEM education (science, technology, engineering, and math) for resident Americans, and who instead chose to provide the H1-B Visa enabling Silicon Valley high-tech companies to employ immigrants to fill these crucial positions, and has enabled the high-tech industry to thrive. The election of Donald Trump has changed all that. His platform is almost completely devoid of any acknowledgment of the crucial importance of high-tech innovation to U.S. productivity and economic growth, the need for H1-B immigrants and the parallel need for greater investment in STEM education.

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CMHC to issue first ‘red’ warning for Canada’s housing market: Okanagan on the list – The Globe and Mail


The agency warning about a strong risk of Canadian housing market problems on the horizon has been expected. “CMHC has recently observed spillover effects from Vancouver and Toronto into nearby markets,” said CMHC chief executive officer Evan Siddall said in an opinion column in The Globe and Mail. These nearby housing market effects have radiated from Vancouver to the Fraser Valley and particularly the Okanagan. The effect of Vancouver sellers purchasing properties in desirable areas beyond Vancouver proper, and Asian buyers purchasing properties in the Okanagan have been noted, following the same pattern as in Vancouver.

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