Canada’s leading digital investing service is crossing the pond. Wealthsimple is expanding its digital investing service to the United Kingdom. A beta version of Wealthsimple's investing service will be launching this summer, followed by a public launch in September....
The Trump administration plans to delay and ultimately scrap a rule that would allow some foreign entrepreneurs to stay in the U.S. and build their companies, according to an administration official citing a final draft of a Federal Register notice. The International Entrepreneur Rule, the closest t...
Mike ShaverNo. Our standards for admission shouldn't change just because the US are being idiotic.
7 hours ago
Evan HallwardYes, but I think the power should lie with the municipalities to decide on whether they are interested/ready to support foreign entrepreneurs looking to grow a new venture in their city.
58 minutes ago
Varun MathurYes. However the issue is the best and the brightest foreign entrepreneurs might not want to immigrate to either US or Canada. The opportunity is in India, China.... Those are growing markets - especially India, which will have over 800 million internet users in the next few years, most young and using the net on their smartphones.
Seeing a lot of people applaud this decision, but there is a Canadian angle to this. Canadian co-founder Garrett Camp said that what got Uber where it is today is neglecting culture in favour of growth.
I know that encouraging diversity and inclusion is an important conversation for this community. Do you think this is a turning point for the argument that aggressively growing your company, at the expense of positive culture, is sustainable in the long-term? ... See MoreSee Less
Raad SerajI don't think its a turning point. But it definitely is a vital lesson. Aggressive customer acquisition and growth is still perceived as the holy mantle on which many valuations are based. Unless investors include callous management and lack of basic civic sensibilities in their risk profile and instead opt to see culture and product are inextricably linked, I don't much will change. But the conversation has definitely started.
22 hours ago · 5
Kareem SabriI was pretty surprised, but not shocked. I don't know if it's a turning point, seems like movement along the same line, but it's big movement. I wonder if the culture, or the public scandals, are what led to the implosion. If Uber had an equally troubled culture but it wasn't so public, would the same outcome have been reached?
22 hours ago · 4
SO L ONIt's easy to comment or judge, but Uber is fastest growing business backed by VCs ever. I don't think any leadership team has a record of doing this at this scale. Let's praise them for raising our ambitions, and wish them all the best to create a better company. As for the founder, I am pretty sure this is taking a heavy personal toll...
Denise SpiessensAs a senior crafter, you will not find me working at a company that doesn't treat their team with the utmost respect. I'm not sure how CEO's expect to build products without talented workers. Any self-respecting crafter can do better. I'm shocked it's even a debate.
Genia Miinkonothing to applaud here. sure, Uber has a laundry list of problems to deal with and is ruthless both in culture and in business, but pushing out the captain of the ship likely wont satisfy their organizational goals as well as business goals in the long term. There's a reason why founder led companies far outperform everyone else in the long term.
good reference piece.
20 hours ago · 2
James MartindaleChildren exhibit the behaviour taught by their parents. The classic Monkey see Monkey do. It's the same in corporations where behaviour through out is modelled on the attributes displayed by the executive team. Uber's success was built on riding rough shot over local legislation whilst pumping money into PR and legal battles. Their culture is understandably maverick as is the way it appears they have run the business. It will be interesting to see if they are able to restore ethics to their business model.
Bonnie Foley-WongTravis Kalanick reminds me of some of the investment bankers I used to work with in London. Aspects of the toxic culture, mindset, and ego-driven pursuits in the tech ecosystem remind me of the investment banking industry. So on the one hand, I don't think things are much different. On the other hand, I'm in a far better position now than 10 years ago do something about it.
Nick RaynerI think you're reaching when you just assume it was about diversity, and that you're linking diversity to sustainability. It sounds like his comments were all about processes and treating drivers better (they've been taken to court repeatedly for this, in different countries.)
Sina S. AmiriIf Uber wasn't losing billions of dollars a year, the outcome here would have been different for Travis. Steve Jobs got fired from Apple at a time when the Mac wasn't selling and critics ridiculed its small computing power. The Uber decision is simply about ensuring investors can cash out on their planned exit strategy. You can't take a $70 billion business with all these issues to the public market without demonstrating some serious commitment to turn over a new leaf. The average retail investor will end up owning their stock not realizing it's the same pig with a different shade of lipstick. It's extremely hard to change the corporate culture of a large organization especially one that doesn't make a profit.
11 hours ago
Steve BendasI think in the future its going to be a requirement to have legit 3rd party leadership auditing in order to get funding.
There are many people in the position of people management, but few who can pull it off, due to the Peter Principle (promote people until they fail at their job). And the fact that a prototype gets the investors, not people skills, emboldens a lack of people management skill. Further, every one of the early employees becomes a people manager instantly (without merit or validation), and you have a recipe for disaster.
What needs to change is that people who establish culture and perform people management should be hired from the outside(if founders or early employees have no experience), and have years experience along with a sizeable reference list of everyone they managed in the past that you can speak with. Before you invest.
Startups are the antithesis to the concept of vetting for people skills, and promote the founders and their friends to people management roles right away.
And this is more common than we think.
It's not to say they don't have poor people managers at places like Google, but you're less likely to find this much of a garbage fire when they espouse psychological safety and had people like Lazlo Bock.
10 hours ago
Bohdan Zabawskyj'the ends justified the means' is a poor argument in the end. #karma
10 hours ago · 2
Jennifer MossThe argument that rapid growth is the reason for a culture of sexism is complete bullshit. A culture begins as the seed of an organization's emotional and intellectual value system. What happened was, the core of Uber's culture just scaled along with the business growth and became too difficult to cover up as it spread.
My colleague Lily Jamali is interviewing Canada's consul general in San Francisco this afternoon for Bloomberg TV Canada. I've heard some rumblings that the two-week visa process is not exactly well-tailored to small and lean startups. What would be the best way to articulate a critical question on how the visa program has been rolled out? <3 ... See MoreSee Less
Danielle LovellSeems pretty straightforward, but it'll be interesting to see the mandatory and complementary labour market benefit activity requirements are applied. I'd say these (reasonably I think) requirements to focus on cdn/cdn PR skill enhancement in the company while bringing in foreign talent is reasonable, but the detail of what's required doesn't yet feel clear. Does starting mentorship coffee across the company count? Is it only cash? Etc etc.
But it also seems that ESDC will walk folks through creating this plan, so perhaps this isn't so bad.
Anyone here filed one yet?
Daniel MathewsI was part of that first batch. its more like MOOC. enjoyed most of the lectures (you can find them all on youtube). its people from Facebook, Quora, Twitch etc talking about their domain expertise. It was also good emotionally, they talk about how even yc companies want to pivot half way through the course and insecurities every founder faces.
2 days ago · 1
K Gustavo FreireThere are key variables to the formula missing: access to funding and attracting experienced deep pocket investors sans le deep rooted risk aversion.
2 days ago
Sahil AroraGreat approach for YC to increase it's brand presence globally. They're helping entrepreneurs in parallel with screening great startups for their SV program.
Was hoping we could crowdsource a list of the top tech/startup exec recruiting firms serving Canadian startups here?
[I'll start the list below within the comment section so as to not to unfairly single out/market anyone - I also welcome & bonus points for firms that are in tech games/entertainment/media!] ... See MoreSee Less
Keith IppelAmui and Blankslate are both work a look in Vancouver, especially with Amui's unique model. Look at at Talent Collective for candidate first approach.
16 hours ago
Tehsin BhayaniWould highly recommend Jared Saks & Ilan Saks @ Stacked HR. The team specializes in high growth-scaling tech startups across Canada & a lot in SF too. They have been great at Exec Searches including VP Eng, Dir Eng, CTO, CFO, VP HR, etc.
Can intro to both or just contact Jared directly at [email protected] :)
With all of the really great things going on in Toronto, it is often overlooked that this city is one of the largest hubs for commerce technology. I have been asked to pull together a list of Toronto companies that provide tech to brands and retailers to help them sell more.
I have started the list below. I most likely left out a ton of good friends but, I haven't had coffee today, so please forgive me if I totally forgot.
- Founded/headquartered in the GTA - Brands and Retailers are the primary customer base. (There are many companies that CAN sell to Brands and Retailers but I am looking for companies that are focused solely on brands and retailers). - Technology companies. Not service companies or anyone who is actually a brand or retailer.
Please feel free to add some more in the comments. Thanks for the help.
Mudit Singh RawatThanks for mentioning us! I was telling a CPG brand manager last week how Toronto is suddenly becoming a super hub for commerce and more companies need to pay attention and track toronto companies in this space.
Want FREE poutine, beer and swag? Share that you are attending Startupfest over Facebook, Instagram, LinkedIn or Twitter, using the hashtag #StartupfestBound, for a chance to win some freebies at the fest!