Tech entrepreneurs are packing their bags and leaving Canada: Former Wattpad CEO
Вставка
- Опубліковано 16 тра 2024
- Allen Lau, former CEO of Wattpad and co-founder and operating partner at Two Small Fish Ventures, joins BNN Bloomberg to discuss the harm he sees done to Canada's tech community with an increase to the capital gains tax.
Subscribe to BNN Bloomberg to watch more videos: / bnnbloomberg
Connect with BNN Bloomberg:
For the latest news visit: www.bnnbloomberg.ca
For a full video offering visit BNN Bloomberg: www.bnnbloomberg.ca/video
BNN Bloomberg on Facebook: / bnnbloomberg
BNN Bloomberg on Twitter: / bnnbloomberg
BNN Bloomberg on Instagram: / bnnbloomberg
BNN Bloomberg on LinkedIn: / bnn-bloomberg
--
BNN Bloomberg is Canada’s only TV service devoted exclusively to business, finance and the markets.
AI Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look.
you’re right! The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
Mind if I ask you recommend this particular professional you use their service? i have quite a lot of marketing problems
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Melissa really seem to know her stuff. I found her website, read through her resume, educational background, qualifications and it was really impressive. her is a fiduciary who will act in my best interest. So, I booked a session with her.
I work for a Fortune 500 for a big tech brand and can’t afford a house. I manage employees in the US more junior than me that make 16 to 60 percent more than me, have Lower taxes and lower housing costs. I’m giving up and asking my company to move me to the USA.
Universal Healthcare in Canada is rolled into taxes.
@trails3597 some of the chappies healthcare I have ever experienced in my entire life, how could you possibly defend the healthcare system in canada
@@paul.hogan720 Its cost efficient. Being a senior I've had good care when I needed it even w/o a GP. As well as the people I know. For sure boomers are stressing the system but in large part it is working.
@@paul.hogan720 What you don't like waiting for a minimum of 3 hours in horrible pain and having no other options like a payable service? LOL
@@jimmypeeps8471 3 hours? You must outside big cities!
Our Canadian leadership is hell bent on completely breaking our country before leaving their current positions.
They need to be charged of TREASON!
WEF
NONSENSE
@@catherinewilson1079 NONSENSE. NO treason has been committed. Why make such a MORONIC statement?
@@LiplessEagle How is being an idiot working out for you? Is it everything you hoped it would be?
Punjabi managers only hire Punjabi,
I work for a crown corporation and 70% of managers, supervisors and workers are Punjabi, so much diversity.
I've heard this from BC ferries people I know as well. Canadians talk about diversity, then tolerate or ignore an imported caste system from India operating in our institutions.
Look at the Canadian transport truck industry. Their government leader is Indian with a thick Indian accent and 99% of the truckers that show up hardly speak english, usually ask questions like they're MOSTLY new to the job, it's SUPER FISHY. They took the industry over lol it's insane. Who sold us out? Jughead? The guy banned from India? Look up why lol.....this country has ZERO spine, full of corruption. We're taking it back.
As an Indian, I feel ashamed of how Punjabis have damaged the Canadian culture.
@@ickster23My daughter who was in the Cdn Navy applied for a job with BC Ferries years ago and was told then that they were only hiring indigenous people and she was wasting her time applying
@@ericwhitlam7517 Helps explain why they are short staffed there.
A US company I worked for a few years ago gave up on Canada and closed their office. Size of market (very small) and culture were the major problems.
Shopify is doing fine.
good, who needs american companies in Canada anyway.....and ya don't say if they left for the same reasons=hyperbole.
@@davemcd9077 You say that but if American companies didn't sell and have locations in Canada you'd be crying SOOOO HARD. What a ridiculous opinion.
Was that after they took advantage of all the benefits that Canada gave them?
We need foreign investment desperately. Not predatory like Walmart but companies to come her and invest and hire. If they do t Canada will continue to fall. Jobs and pay already suck here it will get worse.
Canada is for average Joes from third world countries who slept on floors who think they made it when they buy 10 properties. All entrepreneurs and people who have bigger dreams are left with lesser capital.
The only industry in Canada is housing. But a housing economy is no economy.
@@ericyuan9718 ... and that "industry" has collapsed... now what ?
When this type of comment gets traction on a relatively mainstream channel you know we’ve passed the brink.
I'm from canada and I bet if u where to cross my path u would be running down the street so thers more than average Joe's here .......o yea and I will never own 10 properties and I still sleep on the floor another thing if this chinaman was so tech savvy why is he here go to china big boy he can't cause China's fucked from all this tech bullshit
You NAILED IT! Canada for people from the developing world. Too bad if you want a vision, not just a house
Canada was a great country once,.....
When? It was always a predator paradise
10 years ago
Before trudeau and the damm Liberials!!!
still are
Canada is and always was a figment of imagination on a mass scale.
Everyone is leaving. Basically every single small business around my rural area, is gone, reduced to atoms. Owners left the country, owners that originally fled their home countries, left Canada for the exact same reasons.
What were those small businesses that just all of a sudden vanished when borrowing costs went up?
Was it they weren't profitable in the first place and can't shuffle that borrowed money around to pay the bills?
Small businesses in your rural area have more than $250,000 in capital gains?
Okay, bye.
You might wish to look into the fact that some of these previously poor countries are now ready for people to repatriate.
@@butwhytharum lockdowns destroyed 250,000 small businesses. The last 3 years since that has just been 'mop up' by the 'big guys'. They have to take everything away so we'll 'own nothing'. Or did you miss that memo?
This guy nailed it. I don't know why it's so hard for government to grasp that money is mobile & moves where it'll be taxed less. Like it or not, it's how the world has always worked.
I thought he made an awful argument. It was cliché. Starting with "tangible vs intangible assets" has nothing to do with capital gains.
The government knows it will win votes, because the average citizen has a poor understanding of economics and how the tax affects the country's productivity, and ultimately, everyone.
Because this government is driven by ideology not pragmatism. That's why Canada is screwed. My kids will never have the life I had here unless they move.
Good take your money to EU or central America. Rich ppl always threaten to leave and pretend like they dont suffer misadventure around the globe. Dont let the door hit you on the way out!👍🏽
Hence the subsidies.
Anyone with means is packing and leaving Canada. Its a horrible country and getting worse every day.
Canada is a wealthy, major economy. It is experiencing major challenges, but calling it horrible is inane.
@@ahhmm5381Everybody loves slaving away to pay a million dollar mortgage for a house that was 300k ten years ago, might as well be working since the weather sucks most of the time
@@WasFakestCenturyAesthetics So what. they dump the debt on their tenants anyway. Living in one of the big 3 means you pay at least 75% of your landlords mortgage. Single fam homes though yeah, they get the shaft.
@@WasFakestCenturyAesthetics Yeh
well get rid of trudeau and his bobble head finance minister and go from there but they both have to go..
the destruction of Canada at the hands of idiot wef stooge traitors turd-0 and freakland is so complete and irreversible as to be HOPELESS to see any other government to be able to remedy or resolve the damage within at least 2 decades
Print money to buy bonds so that our government can have giant bureaucrat class. This is not a growth.
PS is not the problem. The pandemic was.
What pandemic? The governments had to change the the definition of Pandemic and Vaccine to fit the narrative! Check out the The Great Barrington Declaration to see how it should have been managed
@@trails3597Public employees (they don't really provide a service that isn't mandated by law) are a part of the problem. They rule Canada.
@@ickster23 Yes the entire western world is full of fake jobs which serve as wealth redistribution schemes from men to women. Men are signing up for the mandatory divorce rape wealth transfer from men to women...then spent on useless shit...to corporations...just as designed. So the government is creating and endless supply of fake weasel jobs, human resources and other fake shit do nothing 'managers'. Women are hired here overwhelming as a male wealth redistribution tax. It destroys the economy because they produce no goods of any kinds.
The western is crumbling because of this shit
I’m selling my stocks and condos and buying bonds. Why risk anything to have government take it away. At least interest you know what your getting . Investing in Canada is a joke !
Good on you
Bond interest is taxed at 100% inclusion.
That doesn’t make sense. Why would you sell an asset on which you pay tax on 67% for one on which you pay tax on 100%?
I'm still in the process of moving as much of my $ out of the country as possible, as fast as I can, which isn't fast enough. The best way to live here is to be poor so you can get government handouts. 😂
Buy bonds? Wrong. During high inflation? You realize that you will lose ten times more with capital loses from the bonds as inflation rises.
Sell stocks? Wrong. During inflation. That’s the best way to hedge against inflation. It’s liquid and goes up in value with inflation. You sell when the collapse begins.
Sell your condo. Yes. As inflation spikes so will long term bond yields ie. mortgage rates. And real estate is illiquid, so you can’t sell off when the crash begins.
Will say it again. Canada is not a capitalist country but a socialist one. Hard work and entrepreneurship is taxed heavily so why work hard no incentive. Canada will soon become a middle grade country just like UK is now. Good luck
Hard work is expected to be given for free. Rich ppl dont work, and they definitely dont “work hard”. What a joke!
already there
@@XetaXones And this is why you're broke, anyone with any decent amount of money right now can see it by your comment.
No. Canada, like most countries, has aspects of both. Considering how much money capitalists have been making, it is trending towards capitalism not socialism.
I think you mean that companies should push down wages for middle income earners, loosen child labour laws, tighten rules for breaks and benefits and finally stop maintaining Canada's infrastructure and healthcare.
A once great country fallen at the hands of Turdeau
And the hands of the Liberals, NDPs and Jagmeet Singh. Canada has been decimated!
Trudeau has no idea what he is doing.
Dude before Treadu this country started to go down the drain already and we can't just blame him.
@@hawkswell59 Kevin O'Leary: I wouldn't let him manage a candy store
@@citizenm9590 Canada was doing fine, The economy was stable things were up and down but steady only when Trudeau took over things get wild.
I cant wait to leave this country. Any lose now would be worth it in future.
Bye don't let the door hit you on the way out
@@butwhytharum door is going to slam in your face.
@@annumkhosla you're the one who wants to leave so GTFO.
I am a Canadian medical doctor and I left as soon as I graduated. Sorry Canada, I love you always…
Doesn't sound like you love Canada, it sounds like you love money.
@@CraZY.pRIME. I love both Canada, money my family and myself. Love is not mutually exclusive (please don’t tell my wife I said that)
Okay, bye.
@@DolfSmitler Where did you go?
Obviously you don't love Canada.
Why are people in comments cheering businesses leaving Canada? The current government is creating an unfavorable environment for business while also growing bureaucracy at astonishing rates. What do you think those additional tax dollars are going to go to? This government has been through one scandal after another with misappropriation of tax dollars.
Some people don't support the ever widening wealth gap in society. When you consider the lifetime capital gain exemption also being raised 250k, to 1.25 million, and the fact it only affects 40,000 people, then ya, they can leave. Because everyone is replaceable.
@@mikeb5664
@@mikeb5664 "then ya, they can leave."
Those are the people inventing products and innovation, opening factories and other businesses and employing everyone.
And you want them to leave Canada and employ people elsewhere??? OK, chairman Mao.
@@shauncameron8390 I'm sure the 40,000 really appreciate you sticking up for them.
Bc they expect free labour and to squeeze us dry. They wont be missed!
Why tf did they bring sick people to work? Dude.
That is a random choking cough . She is not sick .
So what if she was?
that 0.13% people and money can leave canada but the remaining 99.87% can not
Lol, keep believing the politicians. Who are you going to work for when there are no more entrepreneurs left?
@@epictetus3406 Exactly! I do not understand what the giddiness is for. For working for foreign corporations who undepay Canadians? Or everyone is supposed to work government jobs to finish the decay of the economy?
Keep believing Just Trudeau and his gang and you'll see nothing will be left in the Canadian economy. Canada is going downhill very fast for a reason.
@@epictetus34060.13% lol. It’s at least 1000x that number of people who will be impacted. That’s 13% minimum. Probably more like 1 in 3.
@@epictetus3406 All the entrepreneurs and companies are leaving Canada. OMG. The sky is falling.
Nailed it! .13% will not be affected while the rest will be! Canada has sold out tech start up’s, small business and investment in the economy. Higher taxes for all.
What? How?
*YT Quick Survey #11:* For your shared investing ideas, what do you think will be the next Apple/Microsoft in terms of growth?
Well you cant expect people to stay when taxes are nuts. Dont blame them a bit.
I 💯 agree with this. Canada and their policy makers should think about Canadian citizens first and their tax payers. When any giant company moves out or shut down their business, here whole suburbs become a mess or dead place (real estate, infrastructure, small dependent businesses) and increase in crimes because of joblessness and lack of opportunity.
It's part of the plan to completely break and demoralize the public. So they can then roll out UBI and be everyone's 'saviour'. And then $2000 become the new $0. And you'll need digital ID to claim it.
So much for artificial intelligence in Canada when those with real intelligence are leaving Canada 🤣
As a Canadian tech entrepreneur, im in the process of moving my business overseas. Im not going to sell off more of my shares to VCs so that i can get the capital I need.
OK, good luck to you.
I don't blame ya, Good decision, Don't give this shit bag any of your earnings.
Just borrow from the bank... That's what the vc's do... Or is your business all fraud and can't compete now that it costs more to borrow money and your business isn't that profitable in the first place.
@@butwhytharum you must be 12 because any half educated person knows businesses dont start out profitable. They raise money to develop the business and attract customers with a plan in place to make it profitable.
@@curtis1397 who said I was talking about new Businesses that are just starting out? Lots of businesses expanding using the banks money, but they aren't the ones complaining about the cost of borrowing money going up.
Lots of landlords are stretched thin in the first place...
I love how people wanna use corporate laws on residential dwellings
If you're in the market you'd be foolish to invest here when the neighbors are actually business savvy. We chose a spoiled drama teacher to run the country ffs.
Trudo first destroys energy & resource industry & now high tech ..
I remember just like yesterday, every woke feminist was cheering on Trudeau because he said he preferred words like "Peoplekind". What a leader!
Let this disaster be a warning to any other Western country watching the collapse of Canada.
He can only get away with saying crap like that because the left won the culture wars decades ago. That's why he never has to give a straight answer to any question and still remain in power. When the left controls the media, the court system, and the educational system you can have any moronic Liberal in power and it won't matter. 1000 trained "educated" seals cheering his idiotic peoplekind comment.
Yes bc we should all want leeches draining us for all we worth 😪🥱
MSM “journalists” main goal was to get a selfie with Turd rather reporting on how he was going to ruin the country.
Tax the rich, watch them leave.
Don't tax them and starve government coffers?
@@ahhmm5381 If they're gone, there's no one to tax, showing that raising taxes does not necessarily raise revenue. Conversely, lowering taxes does not necessarily lower revenue if it encourages entrepreneurship and investment. The ideal is to find a happy medium.
Oh and we're running a deficit. The government coffers are already empty.
I just want Canada to be Canada again.
These are not entrepreneurs, they are speculators. They are investing back their profits into real estates which is putting everyone on a risk. As of now 30% homes purchase are made by institutions. They should be investing in something that would create more jobs , add more productivity. I work with builder sales office , more that 10 percent house are purchased by large corporations even before coming into the market
They're getting caught with their hands in the cookie jar and crying they can't keep doing it.
They threaten to bring their business elsewhere but elsewhere will treat them just the same if not worse...
It's all propaganda.
It's allllllll leveraged fraud
Hello, non-stupid friend.
someone got covid in the background?
LOL!! He is speaking the truth so they are trying to distract him
I think the host got some moisture down the wrong pipe
We need to get back to "tangibles". That is why we are in this whole mess.
In 2007 I was with these bankers who were discussing about rentier capitalism in ways I had not thought of. I now understand what they were talking about.
Unless by "tangibles" you mean real estate financialization.
So by my calculations, he would have had to pay an extra $32 million with the new capital tax figure.
lol. Maybe then he wouldn't have sold...
Business in Canada has sucked for years because everything goes to real estate speculation, not because of brand new policies.
Canada is fucked!!!
Some people want to tax the rich (who are already overtaxed).. Guess what happens when you do that, they leave with their money and invest somewhere else.. Now you get 0 tax dollars from them
There you go, Lot of angers, transitioning new era, canadian are going back ward, economy downsized, with other capital gain tax on entrepreneurships, Diminishing ownerships, in the end Canadians economy need a elected common sense leadership.
What taxes on new businesses has increased?
I ran a tech venture capital company for 27 years. Left Canada, now reside in USA and Mexico.
My husband is a specialized IT consultant and we're also leaving this year as soon as we get our visa we are out. Capital gains is a way for professionals to save for their retirement. We already pay a lot in corporate taxes and personal taxes and with high costs of living most of it goes to the government. With these high taxes we are not getting anything out of it -- no access to daycare, overcroweded schools, poor health care , high crime , lawless country where criminals can get away with stealing cars and ghost immigrants robbing taxpayers dollars by taking advantage of free money from child care or welfare. No oversight for anything and real paying Canadian taxpayers have nothing to gain.
Canada needs moonshot R&D funding, but it also needs to excel in managers that can handle remote teams. Housing costs price larger cities out of the market, no one can work for a startup and pay mortgages.
Working as RN and make $25 after taxes and deductions and cannot afford a house. Will be moving to 🇺🇸 very soon, I will be able to buy a house.
There is a reason why there are no great tech companies from Canada.
FAF0: Canadian edition
The lib voters and their "idols" would be fine as they are uber rich and connected...
Talk about leaving, in the 80s, Canadian hockey hero Wayne Gretzky moved to the US.
While LA news paper showed 2 pictures of Gretzky: crying in Edmonton and celebrating in LA,
Edmonton newspaper showed 1 picture of Gretzky crying, to support his message of: he was told/forced to leave
Gretzky was marrying a Hollywood actress based in LA at the time. Does not take a genius to figure out why he wanted to move to LA.
Sadly, some folks did not want the truth: some were talking about making a collection to keep Gretzky .
In a recent interview, Gretzky said he could have joined a Vancouver team. Can you blame him (or anyone) for moving to greener pastures?
Lower your expectations in life Canada has a Liberal/NDP govt.
Let's put Justin Trudeau and Christia Freeland in prison !
who’s coughing?
The host. Prolly choked on her own spit
I think the interviewer. Bad timing lol
I love seeing people who can pay taxes easily whine about paying taxes. First world wealthy people problems.
Means they cant do fraud to keep their shit going.
This guys just perpetuating fraud lol
Pay better wages. Profits 📈 are up. Wages are not.
What is two small fish? 🐟🐟?
Very few tech companies actually make money. They are way overvalued. The perceived capital gains are exactly that. Most of us pay tax when we make money. So what is the big deal?
When the takes take it all and there is not money left. That’s the problem. You must be asleep or don’t do your own taxes. There’s taxes, then there’s strangler taxes.
@@KKnits I am a public accountant and have done tens of thousand of taxes. I know taxes and I know some people that do their utmost to not pay their fair share. You talk strangler taxes, but you want better roads, better health care, better support for seniors and the disabled, better pensions, etc, but do not want to pay taxes on actual money earned. Where do you think the money for these services come from. A Money tree perhaps?
Dude is smart but he needs to brush up on his speaking skills. It was hard to follow. But he has solid points
It's not just tech entrepreneurs, the tech talent, engineers, and scientists are leaving, massive brain drain, but "it's okay" that our Canadian trained tech talent leaves because we bring in 2-3x more from over sees. we need a shit ton more investment in Canadian tech, and more incentives to make the moonshot plays in Canada, not less, like the recent capital gains tax.
In Canada successful people punished through to their hardworks.. why work hard,????that coughing person is annoying tho😂😂😂
Thanks Trudeau
It was Harper that sold the rights of all companies in Canada to China. FIPA
This guy is not looking at who sold the rights.
Im in tech ... can i leave canada ?
Tell me about you experience working as a tech guy. Are you in canada? If so then how is it .. salary working environment, etc
@@sakatagintoki8835i have both worked in and started a tech business in Canada. Its not good. Wages are lower for workers, skilled people are impossible to find (tons of recent graduates with no experience), investors run and hide when they hear your in Canada.
You should have left years ago.
Yes go
Is somebody holding you hostage? Need a ride to the airport?
Good. Take your A.I. and spy bots with you. Im looking forward to living in nature again.
Yes it’s all taxes. Taxing on taxes.
It's easy to say people should pay their fare share, but that ignores the risks these entrepreneurs take. The vast majority fail, those who make it need an incentive and need to be encouraged to grow in Canada because those businesses will pay large amounts of taxes and employ Canadians IF they stay in Canada. If they leave Canada then they pay no taxes to Canada and we lose all economic benefit. This federal government is the worst thing to ever happen to Canada on so many levels.
"0.13 % are going to be *_unaffected,_* period."
This will not only create a brain drain but pretty much destroy the momentum the tech industry built in Canada. Good news is that you get a tech job in USA, cost of living is low and salaries are higher. I feel very sorry for the tech entrepreneurs.
Canada has been bleeding it’s talented citizens for decades. They always leave. Period. Punishing success is the Canadian way.
Regular citizens are packing up also. I’m out myself
Where should I Startup my NEW inventions
Industrials are going nowhere. "Informational era" as he said can only be developed if and only if the industrial supply chains supporting those sectors (chips, displays, etc -> AI) exists. Abolish stupid laws, build capitalistic country. We want to bring more immigrants? Build factories or fabs in the praries and take them there to fulfill PR track, instead of letting them work at restaurants or driving Uber in GTA.
The National Research Council needs to be supercharged in digital R&D for the benifit of military, telecommunications, A.I. security countermeasures, computers ect. The agency should poach the best & brightest. It should kickstart a digital research & manufacturing Silicon Valley North. The trick is to hold the resulting patents & copyrights for the taxpayers benefit & obligate the resulting manufacturing entities that are spawned from this initiative to stay in Canada. Why do we have to depend on entrepreneurs to get things started. If we depended on them we would have lost WW2. Besides, they eventually offshore everything but still have free reign regarding our consumer market.
Yep, been working on a software project for 3 years. I won't publish while in Canada. Nope, nope, nope! My hard work means everyone else gets a piece? I don't think so.
This country beflre Treadu it was on wrong path and cant fully blame him for mass exodus of enterpuners. We are bringing in to many Asians and we need to put a tap on it because this country was great when it was diverse not just South Asains running around everywhere
Before Trudeau I didn't know anyone (that was established) that left Canada. In the last few years I know a number of (well off) people that have left Canada and do not plan on returning. If the country was on the wrong path, Trudeau sure knew how to finish it off.
burgeoning tech sector??
If your sick stay home.
Why wouldn’t you move to the USA? Lower taxes. And a Canadian dollar that is going to sink, as soon as the B of C cuts rates. Now is the time to leave, while you can still get a decent rate on your Canadian dollar.
Imagine if this type of dialogue (and guests)was broadcast on our national news with genuine debate. Canadians, as frustrated as they are already, are naive to the devastation this regime is to our future, in all the nuanced but vital corners of our economy.
I watched in 2018 (?), an interview with Rosy Barton on CBC, talking to the CEO of Blackberry who was expressing concern for the liberal government’s inept management of our patent systems and how Canada went from being in the top 20 worldwide to not even making the list. Less than 2 weeks after that interview it was announced the Trudeau government paid Blackberry a $43M “grant” for “research and development” of(?). Read: paid off to shut up. I went looking for that interview on the cbc sites and it was scrubbed.
This government is corrupt, inept, asleep at the wheel, fixated on ideology and seems determined to detonate this country. It’s beyond egregious, it’s blatantly intentional.
How one pathetic narcissist and his powerful masters can erase and destroy 157 years of hard work and dedication is frightening. Get him tf out so we can try to fix this mess.
The US is agitating to raise the capital gain tax also. Even suggesting taxing unrealized gains. I can't imagine how the latter will work, but the former may come to pass.
Easy. Sell the asset and pay the tax. These rich people need to pay up.
who would buy when everyone continually has to liquify their assets. market/ economic crash
@@makerKID5lol, then what?
@@makerKID5 Pay up to who? You? Lol.
soon they will start taxing you for income you might make... we're racing towards a dystopian world...
Good Job T
Y’re leaving? Okay, bye.
Natural resources, like Alberta insisted recently, are provincial jurisdiction.
If "Canada" is not creating a welcoming space for innovation, it is the provinces who are at fault and they are currently governed by Conservatives, who create exclusive spaces by default.
The Business / Corporate community needs to put pressure on the Government to reverse the capital gain tax increase…………..
They also raised the lifetime exemption by 250k to 1.25M. Anyone outside the group of 40,000 this will effect will have no sympathy.
Why? They should have raised it to 100%
Should I take my new inventions out of Canada?
Yes. And if it has anything to do with energy, make the devices yourself and be very hush hush about it. Get it into hands if possible.
But Canadians love to vote for left-wing woke policies, and they will keep voting.
Perhaps tech is not the be all end all solution to everything.
Shouldn't Bloomberg be able to uhhh coughtakecareoftrudeaucough? 🤔🤦♂
Let the financial terrorist leave. Tired of corporate interest 'only having a care' if they're allowed to do what they want and gouge as often as they like.
Multinational yet nationless equates to untrustworthy. Just hoping they wont try and sabotage/stymie other whom will willingly take their place.
A lot of commenters do not seem to understand how mobile capital is at present times. If you were ambitious, creative and willing to take on risk at a great sacrifice you would want to to set roots in a society that values your drive. In Canada a business oriented individual with a vision and new ideas is not welcomed. Too many see them as greedy, exploitative and selfish. This is shown in public perception and high taxes, and regulations that stifle growth. As of now, whether everyone knows it or not we are holding up a big sign that says Canada is not open for businesses. Take your new ideas and the jobs that would have been created elsewhere.... Clueless attitude.
High taxes? How? Canada has an incredibly low corporate tax rate
When stupidity runs amock and rampant, it requires infinite intelligence to figure out how to bring things to sanity
Or a big financial crisis. That helps shake the cobwebs.
@@jptrainor it never does, just dose the opposite
Smart move to leave Canada and go to USA. As soon as Bank of Canada cuts rates, Canadian dollar will plummet. And with Trudeau increasing taxes, and Trump promising tax cuts, why would any high earner stay in Canada? Leave while you can, while your Canadian dollars still have some value, before the rate cuts.
Taxes are not a problem. It's a giant bureaucracy providing questionable value to our country.
Agreed. Hence the need to collect more taxes. Questionable value? I think it's quite evident that quality of life is on a steep decline.
You could have a small bureaucracy but still terrible taxes.
@@parawizard You mean carbon tax that protects property rights?
We can still save this once great country, but first we must cut out many of the taxes, cut the government workforce by at least 25%, embrace our natural resources, forget about climate (even though it is a problem) Canada does not contribute enough to make a difference. Only accept the best and brightest for immigration that are familiar with our rules and culture.
Make it mandatory that no province can import energy they must use Canadian sources oil, nat gas, electricity or nuclear (which by the way contrary to popular belief is one of the safest sources of energy).
Take off all taxes on Canadian produced booze. Tax breaks for semi conductor chip manufacturing,
I could go on and on but we have to get Canada back to the first world.
Cut taxes? Which ones? The corporate tax rate is already lower than in the US
As for carbon emission, ~half of all world emissions are from countries like Canada, who 'don't contribute enough to make a difference'. It adds up
Well live, we got more than enough delivery apps👍🏽
Who owns those apps? What country do they pay taxes to? I can still sell my app to you from anywhere in the world, but the Canadian economy will never see a dime.
@@curtis1397 You realize people pay taxes when people order deliveries right? And nobody is stopping you from creating your (probably worthless) apps outside the country and trying to convince a sucker to acquire them
@@curtis1397 The digital services tax exists, so yes, Canada would see some of that money.
Otherwise, yes, there is a massive global loophole for tech companies regarding taxation
So many small businesses in my area got bought out and are now managed by people who immigrated from India 2 years ago along with their family.
Good luck to this country. We've opened the floodgates when everything is at its breaking point and neither one of our government leaders will slow it down any time soon, not even Piere.
I do love that Trudeau has claimed to build 3.1 million new homes by 2031. Money just grows on trees and the Canadian credit card aka our tax dollars is simply unlimited spending if anyone actually believed his nonsense anymore.
Caught in so many scams, so many lies, so little accountability.
Trudeau has to go
7!
The future is looking brighter and brighter for this country. Well done Liberals and their voters.
Canadian born here, my brother and I started a tech business together and as soon as we can we’re moving out of Canada. It’s insane how bad it is.
The host has lost her voice crying hoarse that interest rate cuts are happening tomorrow🤭
Karma for Amber the closet commie.
1:40 "... transitioning from the industrial age to the information age...". Did this guy time travel from 1980? If that's the best this guy can up with then he needs to go back to the drawing board and reformulate. Next time without the cliches.
You dont get it at all. Tech businesses compete globally. Its not like brick and mortar stores of the industrial age. If two identical tech businesses start up in two different countries, the one with lower taxes will win because they have more capital to invest in development and marketing.
@@curtis1397 I've worked for multiple tech companies in Canada over three decades and have worked for tech companies in Europe for short periods. So I think I get it. And I think his opening statement was very inciteful.... in 1985.
@@jptrainor ever started a tech business? I have and as an employee you dont know what goes on behind the scenes to get to the point of being able to hire you.
@@curtis1397 yup
@@curtis1397 I'm critical of how poorly he has articulated his objection. Not necessarily the objection itself.
Gee, I wonder what Bloomberg thinks about this issue? Biased much? Answer YES
How about getting an MP to explain the government’s rationale?
Have you seen the OECD numbers for Canada?
Fool!
“Canadians are giving away their ownership of Canadian companies” interesting that it comes during foreign interference around the globe more like bodies in cahoots
This is our history, build something and it gets bought out but big money
@@waffles1ca Canadians take more of an interest in their home and cottage life tech is for kids