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QHow would you assess Canada’s tech startup scene?

A Canada has a bit of a messaging problem. A lot of people outside Canada don’t really know how much good stuff there is up there. Inside Canada, many of the entrepreneurs have a confidence problem. In my opinion they’re just as good as their U.S. counterparts, and they’re just as capable of building big businesses. But for whatever reason they don’t seem to be swinging for the fences. In the U.S., it’s not crazy for somebody to come over and say, ‘Here’s what we’re doing and we’re going to make a billion dollars.’ Nine times out of 10 you know that’s total BS. But the ambition is there. I have a feeling that same ambition exists within Canadian entrepreneurs, it’s just not communicated externally.

QSo there is a lack of aggression among Canadian entrepreneurs?

A They need to remember that the default state of their company is failure. In a world like that, you have to be aggressive. You have to be confident and you have to be bold because you’ve got to figure out how to get customers on your side. It’s not that all Canadian founders lack aggressiveness and boldness. It’s just that there’s very few who have it. That’s a shame because I see a lot of opportunity in Canada and I shouldn’t be the only one who sees it.

QYou’ve said many Canadian companies are exiting too early and for too little money. What explains that trend?

A I think there are two issues. The first, again, is confidence. They don’t have to take the first offer they get. A Canadian entrepreneur might think, ‘Well, if someone’s offering me $10-million for my company I should just take it.’ Whereas a U.S. founder would say, ‘$10-million? I’m worth more than that.’