Political News Canada

49 readers

12 users here now

Everything that affects our political world in Canada even if it occurs elsewhere. Debates may get heated but pls don't make them personal

founded 1 month ago

MODERATORS

Foxer@lemmy.ca

-1

Canada’s tech industry warns 'entrepreneurs are leaving in droves' for U.S. (nationalpost.com)

submitted 1 day ago by Foxer@lemmy.ca to c/politicalnewscanada@lemmy.ca

5 comments fedilink hide all child comments

Canada’s tech industry is warning that the country continues to lose its best and brightest entrepreneurs to the U.S., an issue that has taken on new urgency as tariff threats have prompted Ottawa to try to diversify away from the U.S. economy.

This week, various tech entrepreneurs, politicians and economists began to weigh in on data that show just how big the problem has become. According to recent figures, there are at least 517 U.S.-based tech firms with Canadian founders — or, entrepreneurs who were educated in Canada but later left for the U.S. — that have together raised more than US$400 billion.

“The numbers make it clear that Canada’s founders and entrepreneurs are leaving in droves — and they are taking the future value they will generate with them,” said Lucy Hargreaves, co-founder of the business advocacy group Build Canada, who issued a call to action in the form of a LinkedIn essay that triggered an online conversation about the trend.

top 5 comments

sorted by: hot top controversial new old

[–] B1ackmsth@lemmy.ca 9 points 1 day ago (1 children)

The national post is an american-owned rag.

[–] Foxer@lemmy.ca -1 points 1 day ago (1 children)

Children criticize the source, intelligent adults address the content. Was there something about the content that you disagreed with?

[–] alsimoneau@lemmy.ca 3 points 23 hours ago

Yes. I don't care about "entrepreneurs".

[–] healthetank@lemmy.ca 3 points 21 hours ago

I'm not surprised - we've made it quite easy to move between the two countries, comparatively speaking, and one country has an enormous social safety net compared to the other, including all the fees that go along with that. Since its easy to have a US company enter the Canadian market, why would they not base themselves out of the consumer base that's 10x the size with fewer labour laws, privacy laws, and environmental protections? Add onto that the number of rich people and VC present in the US vs Canada that can give startups a skyrocket to success?

That being said, I don't think the way to compete is to lower our standards or offer additional financial payouts/tax breaks. I think we should be enforcing more things like the dropped Netflix tax, forcing foreign companies who want a piece of the Canadian market to give back to the country they're draining money away from.

[–] TheAgeOfSuperboredom@lemmy.ca 7 points 1 day ago

These people supposedly leaving clearly prefer working under fascism. Fuck em! Let them leave. Let's make Canadian tech something to aspire to instead of something designed to exploit.

But on a positive note, maybe this will make the government try to get more funding into technology.