Quote:
Originally posted by Buster
This man gets it.
I find it funny that we all stand around with our dicks in our hands, scratching our heads, wondering why we can't create the magical "diversity" in an economy. As if "diversity" is a thing that exists instead of being just a vague descriptor.
The REAL reason we don't have a more diversified economy is because Canadians refuse to reward success...or even really celebrate it. Canada, from a business perspective, is mostly loserville. The biggest missing ingredient in terms of departing from being just resources extractors, is the presence of health capital markets in the venture space. Raising money in Canada is a joke. And it's a cultural thing that I don't think will ever change.
Here's some thing we would need to have in place before we start seeing new industries magically arise from out of nowhere. (Hint: Canadians suck at all of these things):
- functioning supply of early-stage venture, which is limited by the rest of the list
- ability to reward success, and not act like jealous assholes when someone actually ends up getting rich
- stop taxing successful people, so when they do hit on something, they aren't expected to share it with the dopes that didn't write a cheque and take a risk
- much lower taxes on capital gains
- stop complaining about wealth inequality as if it is always a bad thing
Pretty much all this. Our society is just generally geared towards socialism, and other feel good nonsense. We are not capitalists, or have a capitalist mindset at all. We are a fraction of the size of the US in terms of economy, population, etc.