Tag Archives: venture capital

Canadian Tech Industry Out of Touch With Global Entrepreneurial 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. 

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Could Macron and Brexit make France Europe’s tech capital? 🇫🇷


French President Emmanuel Macron’s vow to make France a ‘start-up nation’ amid the uncertainty over Brexitis raising the question of whether Paris could supplant London as the capital of European tech. Since his election, Macron has wooed tech entrepreneurs with a string of initiatives in the form of lavish tax breaks, subsidies, and credits for research. In March 2018, he promised to invest €1.5 billion into artificial intelligence research through 2022. Some of these initiatives, in addition to Macron’s dynamism, have lured British tech companies who are looking to gain a foothold in Europe.

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Mayo615’s Odyssey to France: Week 1 Update


Welcome to Mayo615’s Odyssey to France and the first of our Tuesday weekly updates. We invite you to subscribe to our YouTube Channel and follow our weekly updates. In this Week One update we will focus on my first Big Idea, and how I achieved it.  I will also discuss my three most important key takeaways from that experience. We hope that you find this video helpful in achieving your own Big Ideas and goals. So here we go.

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See The Launch Of The MAYO615 YouTube Channel Trailer Here


On this YouTube Channel, we will share our Big Idea: our personal goal and invite you to participate with us, share your comments and questions and perhaps motivate you to achieve your own Big Idea. We will post an update on our project every Tuesday. We invite your comments and questions about your own Big Idea while you follow ours. We will both reply to all comments and will feature the best questions in our YouTube update videos each week. So click SUBSCRIBE and let’s get started!

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Help Us Return Home to France to Mentor Entrepreneurs: Fundrazr Campaign 🇫🇷


I want to return to France to give back my experience, skills, and technical knowledge to the country of my heritage. France’s industrial economy is in the doldrums, but new policies are stimulating innovation, the key to economic growth and productivity, and technology industry leaders in France with strong technology industry backgrounds are looking to contribute to this new economy in France. I want to join them and give back.

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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.

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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. 

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Uber And The False Hopes Of A Sharing Economy


At its inception, Uber touted itself as a shining example of the “sharing economy” described by Jeremy Rifkin, in this now famous book, The Third Industrial Revolution. As time has passed the reality has been radically at odds with a sharing economy.  Among the many issues that have emerged has been the legacy of Uber’s ugly corporate culture, secret apps used to confound regulators, and to intimidate journalists, a Justice Department investigation of illegal practices, including 200 Uber employees conspiring together to attack Lyft’s operations. The proverbial chickens have come home to roost, as municipalities around the world have begun to regain control of transportation policy within their jurisdictions, and the inflated valuations of these unicorns begin to deflate.

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Another Silicon Valley Reckoning Is Coming: “Star Entrepreneurs” and Way Too Much Money


Another Silicon Valley reckoning is on the horizon.  We have seen cyclical events like this before, the 2001 bubble burst being the most recent memorable reckoning. The talk in 2001 was about too much “dumb money.” The coming reckoning, however, is on a massive, unprecedented scale, fueled by the same excess of global capital that has fueled the bubbles in housing markets in attractive locations around the World. The problems with Uber, Travis Kalanick, and the now obvious difficulty of the Uber Board of Directors to exercise meaningful governance should have been the “canary in the coal mine.” CNBC’s reporting on the excessive Silicon Valley “unicorn” valuations and media reports that New Enterprise Associates would divest $1 Billion in startup investments that cannot be made liquid have made the situation blatantly obvious. After a long silence, the Wall Street Journal has finally joined the reporting on the crisis. What more does one need to take to the exit?

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OOPS!! Amazon’s Vancouver expansion tightens local competition for tech talent


SOMEONE FORGOT TO THINK OF THE UNINTENDED CONSEQUENCES Marc-David Seidel, UBC Apologist for the Amazon Deal Predicts Pie In the Sky Bye and Bye Tech workers are already in short supply and Amazon’s increased presence likely to lure workers away from local technology-based startups Canadian Prime Minister Justin Trudeau is surrounded by Amazon employees as […]

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