[nickler]

The startup scene here in Vancouver is scrappy but really shouldn't be compared to SV in any way, it's just not a fair comparison.

We are, however, woefully under-represented with experienced seed stage investors, as the author states. The few that are here have abandoned seed and pre seed and are exclusively VC, mid to late round investors. Can't blame them, either, as the wins are still few and far between.

Vancity seems to excel at bridging H1B visas for large firms hoping to cycle them into the US once they've cleared. Candidates get here easier and quicker.

We're also a cost effective labour farm, and our devs are happy for the work to help pay for their ridiculous mortgages.

Great city to live in, worst city to fundraise, good place to launch and validate, and really nice for avoiding the noise.

We'll see a unicorn or two in the coming years. They'll just go a much different path than the typical SV startup.

[nacho2sweet]

The word is out in the last few years though with any young developer googling Vancouver. Low pay, high cost of living not worth it. Even the founder of Hootsuite wrote an op-ed and the situation is only worse since the 2 years ago he wrote that. Something that pays 125,000USD in SF pays like 78,000CAD here. Condo's are $1000/sqft still.

[mistermann]

> Condo's are $1000/sqft still.

In the suburbs maybe.

[drspacemonkey]

Presales downtown are at $2k/sqft.

[mistermann]

Sometimes I fantasize about winning the lottery and go browse condos to see what I could buy.....$5M downtown gets you something completely unimpressive, it's really hard to fathom.

[venture_lol]

It's not just money. You need the backing of movers and shakers who know doors to knock, open, and barge through.

[nickler]

Absolutely. See this a lot more in Waterloo/Toronto for sure.

Just had a convo with a NYC venture friend who was raised here in Vancity and his quote was revealing. He said the stink of the VSE resource pump and dump era is still prevalent.

I've been approached by 3 different groups trying to list us pre launch here in town. When that's the culture of the investment scene, it's tough to make anything great.

[personjerry]

What is "VSE resource pump and dump"?

[thesmallestcat]

VSE = Vancouver Stock Exchange. Pump and dump is a market timing strategy where you ride an inconsequential stock's rise over a relatively short time and then sell. I have no idea how that relates to parent's last sentence.

[sedachv]

In the 1980s and 1990s the Vancouver Stock Exchange was notorious for fraud, and Vancouver was known as the "scam capital of the world."

[mistermann]

There's an (accepted) culture of dishonesty in Vancouver, particularly in companies listed on the VSE (TSX-V), including the exchange regulators.

I have no idea how accurate the opinion is that this affects raising funding.

[nickler]

It contributes to the investment culture in the city, despite strong efforts from Wertz and a handful of others to lead a more enlightened approach and build great companies.

It's not the only challenge the city has, there are a myriad of forces at play, and some are positive. Best way to fix it is to get more startups earning more customers and growing locally. Nothing stopping them from doing that, just wont be as fast as SV is all.