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Y Combinator website no longer lists Canada as a country it invests in

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Re: Y Combinator website no longer lists Canada as a country it invests in

#131

Earlier quoted context omitted.

There are definitely still health insurance benefits (I'm Canadian). Yes, our doctor and hospital visits are covered, but many things are covered by employer paid insurance (or not at all): - prescription medicine - dental - vision - mental health - things like physiotherapy

Yeah, correct, but it's not going to be a $4000/mo line item expense for the employer per employee. I don't have to deal with this as we are a (very) small business but it's a major headache for larger small businesses. Basically, as an employer it simply isn't fun to be forced to be in the "providing access to healthcare" business when that's not your core business.

I live and work in Canada. My very generous healthcare coverage for optional stuff including dental is ~$5300 CAD. I've got kids / dog / spouse / etc. and usually opt for the extra coverages including life insurance. Work covers about half of that. 4% tax (which funds the socialized medicine) plus the 2k, call it 5.5% of salary and I get good healthcare in a large Canadian city.

My US benefits were middling in terms of coverage and package when working for a large F500 and went about $16k USD on a 180k salary -- converted is about $19k CAD at todays rates. Including co-pays and fees it's like 10% of salary. At the time I was in a big city with great hospitals and doctors, but not noticeably better than Canada even at the higher price.

Re: Y Combinator website no longer lists Canada as a country it invests in

#132
post #127
post #51

Earlier quoted context omitted.

Well, it's fully possible to be self-insuring in these areas. Prescription assistance is probably the one significant benefit as physio, mental health and the like can be of limited reimbursement (judging from what I've seen). The key issue is that the core of one's health insurance is not dependent on the employer or even being full-time employed. This provides tremendous flexibility. And I suspect not having things…

You are correct but I think you missed the point of the post I was responding to, which was claiming that employers don't need to worry about paying for health insurance for employees in Canada, which is inaccurate.

You can get by without private health insurance in Canada. This is not the case in the us.

Re: Y Combinator website no longer lists Canada as a country it invests in

#133

This whole move is about corporate governance. The US makes it really easy to start or manage corporations and the courts are (mostly) streamlined and predictable, especially the chancery courts in Delaware. Cayman Islands adopted much of Delaware's legal approach to corporations in 2016 to make the island more business friendly rather than just a tax haven, and they've got a foot in the Latin American market. Singap…

I wonder if Canada needs a Delaware. Delaware's system works because they have such a small population that offering a low cost and high volume solution to the rest of the country is the right strategy. I could see a case for a smaller Canadian province like Newfoundland or PEI doing the same.

Re: Y Combinator website no longer lists Canada as a country it invests in

#134
post #117

Earlier quoted context omitted.

This is simply not true. Canadian founders lose massive Canadian tax benefits by incorporating in the US. The only way out of further tax complications (and it’s not because of Canada, it’s just how international tax laws work) the founders have to permanently move to the US. Source: I have founded both Delaware and Canada federal co.

I understand how SR&D works - I've filed for it several times. My hot take: given the 1 year delay on receipt of funds and the fact that it has the biggest impact on small teams, if you are going to scale a VC backed startup as fast as you need to - SR&D won't be the reason you succeed. If you are not scaling fast enough to make it - SR&D won't save you. If you stay in Canada and raise from Canadian VC's you'll get h…

Banks are generally happy to factor SR&D for you if you need to get your money faster

Re: Y Combinator website no longer lists Canada as a country it invests in

#135
post #4

Is it politically motivated or does it have to do with Canadian tech not requiring investment because of its stability?

Shopify is basically the only really successful Canadian start-up. It's very hard to run a very small business here.

What an ignorant thing to say. Clio? Wealthsimple? 1Password? Hootsuite? Lightspeed? Ecobee? SkipTheDishes? Those are just off the top of my head.

And what's this about running a small business? I run one, no issues here. Couple employees, file my taxes...nothing special about running a business.

Re: Y Combinator website no longer lists Canada as a country it invests in

#136
post #96

Earlier quoted context omitted.

Shopify is basically the only really successful Canadian start-up. It's very hard to run a very small business here.

> It's very hard to run a very small business here. What do you find makes it hard to run a small business in Canada?

They don't know, they're just projecting.

Re: Y Combinator website no longer lists Canada as a country it invests in

#137
post #61

Earlier quoted context omitted.

What are the trivial changes Canada could make if it wanted to be serious about startups?

briefly: cap gains reductions. at will employment. competitive top line corporate rates that attract HQ's and IP the way Ireland did. reduce the public sector talent tarpit, tariff goods from countries that use slave labor. abolish the dairy, wheat, and syrup boards and other agriculture cartels. enforce money laundering laws against retail businesses to normalize commercial rents. reduce immigration to levels where…

we have at will employment here in Canada, do you know much about Canada? Most of the things you have mentioned are not real issues here.

Re: Y Combinator website no longer lists Canada as a country it invests in

#138

Canada's economy is dominated by a few big companies because the government makes too many rules. It costs too much to start a business here. In politics, only two parties really matter. This creates a closed system where big players stay big and new competition is crushed by red tape. Regulatory frameworks impose prohibitive compliance costs, favoring established incumbents over startups. Key sectors like banking, t…

"It costs too much to start a business here"

what sort of business are you talking about? You can start a software company within few minutes in Canada.

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