The Paradigm Shift Continues: Minding the Early A Gap 8/23/2016 by Tim Bliamptis Roughly ten years ago, the cost of developing software dropped precipitously. Not surprisingly, this drop in the cost of developing software made starting software companies extremely capital efficient. This shift cre...
Varun MathurThere is nothing here from a data perspective (no pattern, no anecdotal) offering a basis for this gap. The gap exists in Infographic 1 which is filled in Infographic 2 --- unable to make sense of this. Perhaps wiser folks can opine.
Rachel BartholomewDejavu for me. Went through almost the exact same experience. Always trust your gut.
8 hours ago · 1
Sabrina PoirierWow. It was interesting reading this, especially as she was reflecting on the lessons learned. Definitely some red flags to watch out for.
Also, an important reminder to always have a little money put aside for a rainy day, even if you think you have job security or a big bonus coming your way.
58 minutes ago · 1
Robert LendvaiGood read. But sadly, none of this caught me by surprise.
21 minutes ago · 1
Jasdeep NarangMy heart went through a roller coaster ride while reading this...
Rachael-Dawn CraigI mean, in Canada we have a pretty good social safety net and pretty generous startup support incl. R&D grants... so are we just poking at the rich kids who were born into Harvard Business School?
Phil CutlerWould love to hear what Chamath and Bridgette have to say about this.
10 hours ago · 4
Kris GermannSince when has "entrepreneur" become synonymous with grants and funding. An entrepreneur used to be someone who worked off blood, sweat, and tears (okay and lentils because that's all we can afford) until they were able to live like they wanted to. Live like the 99% won't so you can eventually do what the 1% can.
Self-funded, lower middle class, no VC; innovation demands risk, sorry.
I DO agree that perhaps those who were given a head start with funding or well off to begin with may have a harder time taking risks - it's harder to do when you fear losing everything, as you've never had to experience having nothing.
[Edit] the state and mindset of today's "easy-bake-entrepreneur" (just made that up, I get 5% royalties on it) saddens me greatly
Tehsin BhayaniThis whiny article is focusing on the wrong points and making bad conclusions.
Not all entrepreneurs come from rich families. Entrepreneurs come from all walks of life. Rich families, poor families. What sets us apart is resourcefulness. That's the key advantage.
- They came from having lived at a halfway home to go on and build a company that works on world changing ideas (*****)
- They have slept at bus stops (Brenton Mowforth),
- Had a bank manager threaten calling cops on them when depositing their first large cheque (****** ) because the manager didn't believe them.
- Laboured late nights to keep their office spaces ready (Jeffrey Howard and Neil Martin) so other founders have a good desk to work from.
- Having run out of lentils, crashed events for free food so could eat a good meal, met that basic need and got back to coding.
Would love to hear other examples of this from the community.
Let it also be said that yes we do have a great country that does provide us with basic needs, there are EI programs available for entrepreneurs. Perhaps someone should try writing about how it's really done instead of this "entrepreneurs come from rich families" bs.
Bob GarrishArticle is closer to a full on troll than something to be taken seriously. My father was an entrepreneur, so was my mother, so was my mother's father, and all of them from middle class families. I got a step up - first person in my family tree with a degree. Also got to start a fancier company.
Not every entrepreneur runs a company that issues shares and titles.
Phill Mendonça-VieiraIt's not impossible to become successful and come from a poor family; it's a lot easier if you have a trust fund.
People surprised by this need to think about their peers' backgrounds, cos I've noticed this.
Melissa Shapiro NightingaleSlightly biased but Wattpad PR team is kicking butt. Lots of coverage out of the US, especially in entertainment, consumer, and ad pubs, and regular love from the Canadian outlets too.
Seeking a multi talented app developer who is interested in Fashion for a really cool custom men's goods brand made in Spain, in the Waterloo area...message me if you or someone you know is interested in being a CoFounder. ... See MoreSee Less
Georgian Partners has secured US$375 million ($485 million) for its third growth equity fund, winning limited partners over to an investment strategy that adds to the firm’s pioneering focus on applied analytics. The Toronto-based firm announced the close of Georgian Partners Growth Fund III this we...
Question for my fellow SNs. We use Grasshopper + Vonage as our in-house phone combo for inbound sales/support. It's been less than reliable to say the least, so I was wondering if anyone had better options to propose? ... See MoreSee Less
Joseph TeoHey Yves We run our sales and support off Skype. It's $9.99/month and you get your own skype number and unlimited calling across north america. Get your own Skype number (We got a NY one so that it's familiar to our customers and prospect) and you can forward it to your local number as well. Been working great for us! Hope that helps :)
3 days ago
Yogi YoganathanCheck out aircall.io don't use them but they are doing some cool things
Ali H DinaniInteresting - We use Talkdesk for support at CareGuide and our team loves it. The only problem is that their analytics platform isn't great.
3 days ago · 1
Rodrigo Madrizvonage has worked for me at my home for about 5 years. Not one glitch. I understand VOIP.ms is as good but you may expect an inferior service level (e.g. by email) vs. a call center. Voip.ms is significantly cheaper too
3 days ago
Colin SampaleanuI like voip.ms. They are very reliable, have great support, and are way cheaper than Vonage. I don't know why somebody would pay the premium for Vonage given the other options out there...
3 days ago · 2
Jevon MacDonaldIf it's for anything customer facing, don't be cheap! Get a high quality route -- something like trulywireless.com/ -- Twilio, Grasshopper, etc are NOT good enough or reliable enough IMO.
3 days ago · 1
Brian SharwoodWe use Talkdesk and it's been solid. I think we've got about 6-7 agent licences on it. Grasshopper is really just for 1-5 people. Vonage is really just for single use.
2 days ago · 1
Yves BoudreauThanks for all the input everyone! Will look into some of to options provided.
2 days ago · 1
Simran KambojWhy not just get a dedicated connection using SIP going to the pstn? Who is your internet provider?
Sarah Prevette and I co-authored a piece in the Globe today on our technical talent shortages here in Canada - and how the government can help address as part of the upcoming innovation agenda. ... See MoreSee Less
Abhishek MathurWell written! To take this article to the next level ... what are your thoughts on producing tech talent in Canada vs. retaining tech talent in Canada?
Engineering schools in Canada are producing fantastic tech talent, but a fair portion of my friends and acquaintances interested in tech are leaving Canada. What's the government's role in that?
Matthew HollingsheadI'd also put the onus on companies to focus on expanding the capabilities of the talent that is available. Knowledge sharing and internal mentoring can help develop and inspire your employees. As I grow our team, I see it as an opportunity to mould talent.
Citizenziggy EsQobarAirbnb comes close second at well over 2B.
global business models that require litigating at the municipal level are a massive ongoing legal expense... but if they can hold out they will entrench themselves a virtual monopoly.
Varun MathurMichael Mahon Couldn't disagree more (perhaps you did that intentionally to start this debate :)) This is going to be the one of the greatest tech companies of the 21st century:
1. Uber as a startup is close to having a near-monopoly on the ridesharing market in the US (how long will Lyft survive as an independent startup ?)
2. And, still, it has only just scratched the market - with less than 15% of US consumers having ever used Uber/Lyft. Pew Research poll.
3. Tapped into a blue-ocean of non-taxi drivers, converted a large number of people to drive casually.
4. Unlike every other on-demand startup, Uber drivers actually make money - "good enough" for them to hang around using it (I have been moonlighting in Uber driver forums for past several months and see it first-hand).
5. Uber is expanding into delivery of anything and everything - moving people and goods. It will decimate other startups operating in this space unless they can find a specific niche.
6. Brand - consumers love it.
7. Data - Uber has extensive data and leverages it effectively to manage supply/demand. Surge pricing.
8. Platform/API - It is embedding itself gradually to be a viable alternative means of transport. For instance, through Google Maps, you can trigger ordering an Uber now and see ETA. Using Uber API you can plug your app/bot to leverage Uber's driver network.
9. Vision/driverless cars - Its partnership with Volvo, and the ability/ambition to equip cars with self-driving car kits is a better vision for adoption of self-driving cars than the one which calls for buying one outright. An Uber de-facto operating system allowing fully-autonomous cars to go out and make money during the day moving people and supplies, 20 years from now, doesn't seem too far-fetched.
10. Sheer aggression, attitude and war mentality of its leadership team led by Travis.
Matt Burnsinvesting in the future > generating profits in the present imo
4 days ago · 1
Michael HofwellerTheir biggest expense is paying human drivers. Based on what I've read lately my opinion they're using human drivers only for deep global market penetration and product validation but will recoup that in the long run as they eliminate humans and replace them with self driving cars. Just taking a guess :p
4 days ago · 3
Mathieu LachaînePeople saying they have a "monopoly"... the problem is there is virtually no switching cost... and I'd rather take an autonomous Tesla, I respect the CEO's mission much more.
Mathieu LachaîneTwo Questions:
1. how much did Tesla lose up to date ? I believe it is still losing $ after 10 years, no ?
2. are those companies capitalizing R&D? I believe most US startups don't, and that can make a huge difference in accounting losses.
Julien SmithYeah how is this even a conversation we are having? You think the best venture firms in the world are idiots? I know people at massive, massive funds that now REGRET passing on Uber at 16b valuation. This is a common sentiment.
Honestly I think a lot of this reeks of jealousy whenever it comes up. It's a shame. Canada can do better than to hate on others to pull themselves up.
Florent VilmartYou know a lot of startup with $1B revenues? This is already big... bigger than anything else. So big it can hemorrhage $2B
4 days ago
James MartindaleTheir annual revenue is close to $4 billion and grew 18% in a quarter. I don't think anyone will panic until the revenue growth starts to slow. It's a sustainable business model with that revenue and investors will continue to allow them to burn cash to establish further penetration.
Sandy ScottWhat I found interesting was the massive difference between gross and net revenue. Net revenues relative to gross revenues is actually shrinking (25% to 22%) - suggests they are actually accelerating subsidies or somehow redistributing margins to others somewhere...given their competitive stature, I wouldn't have thought this necessary (at this point...3 years ago, sure, but now? with 80+% share?). Also, operating losses GREW from quarter to quarter, meaning spending is growing at a meaningfully higher rate than the revenue is. So they continue to accelerate subsidies, as well as operating expenses, at a faster rate than their 18-20% growth rate.
I am a huge uber user and fan...well, except when surge is like 4x like it is right now in Toronto! And I have to believe that some regions, like Canada, have to be profitable (if regions like Canada weren't, given there is basically no competition, then there would be REALLY MEANINGFUL SIGNAL there in my opinion). Anyway, some dudes that are WAY smarter than me thinking about this one inside the Company and am sure they know what they're doing.
4 days ago · 1
Dan SeamanThe $9B their investors have given them is entirely to fund growth not profit. Ride sharing is a winner take all land grab.