As someone who has worked in the Canadian tech scene for 25 years, and rode two startups all the way to exit (i.e. acquisition by US companies), in my opinion the problem has nothing to do with exit mindset, good angels, bad angels or SRED. It is all about talent retention. Up until early 2000, Canadian tech salaries at least somewhat kept pace with US salaries, albeit 20-30% lower. After the dot com crash, however,…
Btw, it was also really difficult to find a primary care doctor in Vancouver at the time, when I finally found one taking patients after a while, he (an older guy who I assume just like living where he grew up) told me that the reason is that all the doctors move to the USA if they can.