5 ms·

> The open minded attitudes and culture around risk is something that you can really internalize when you are around other people who give you the correct socia

> The open minded attitudes and culture around risk is something that you can really internalize when you are around other people who give you the correct social proof. Never lived in the Bay Area, but even when Bay Area people visit or show up in my career orbit, the difference is pretty massive. Especially when compared to Canadians on risk taking. Bay Area will spend a week to try something. Canadians will take a few months to consider it. Even observing from afar, it is pretty evident why Canadians tend to lose.

ilrwbwrkhv 3y ago
And this blown up to the scale of an entire country is why Canada is suffering so much today. On every metric of measurement they are going down because the ability to take risks is simply missing in the country.
- arcticbull 3y ago
  It's also because the many Canadian risk-takers moved to the Bay Area for the concentration of talent and high pay. It's easy to fly down with $50 and an offer letter to work anywhere you want for 3 years (indefinitely renewable) as a software engineer on TN status. Then you can take all the time you need to win the H-1B lottery, or just petition I-485 directly off TN (additional risks apply petitioning directly from nonimmigrant status, this is not immigration advice, ask an attorney, etc).
  - 486sx33 3y ago
    Canadians and democrats belong in Toronto. TN should never have been opened to software engineers. Software can be done remotely from anywhere.
    - deleted 3y ago
      [deleted]
    - deleted 3y ago
      [deleted]
- okdood64 3y ago
  > because the ability to take risks is simply missing in the country. Never heard of this before, interesting! Can you direct me to some sources or YouTube video about this? I'd love to learn more.
  - willhslade 3y ago
    Not OP but I'm a Canadian who follows the news so I'll pitch in. Canada is suffering a few things right now. Definitely a housing crisis, which seems to be everywhere in the Anglosphere but I'm pretty sure we have it the worst. Couple charts. Disposable income vs house costs, USA then Canada. https://www.reddit.com/r/canadahousing/s/SIRo14xudI https://www.reddit.com/r/canadahousing/s/SIRo14xudI Relatedly, debt to income ratios, Canada vs USA. https://ritholtz.com/2013/10/household-debt-to-income-ratio-usa-vs-canada/ https://ritholtz.com/2013/10/household-debt-to-income-ratio-... So Canadians like to spend too much for housing, live credit and thus don't invest. Why do they do that and does that matter? Well, we do that mainly because house appreciation isn't taxed as income (risk aversion in action) and it does matter because it crowds out investment in things businesses use to make money. WSJ has argued that this is the second leg of the crisis: we can't earn our way out of it, because our productivity is poorer than the USA, at 71%. https://www.wsj.com/articles/canadas-poor-productivity-has-reached-emergency-status-senior-central-bank-official-says-1549142c?st=u7ypu1so0crd9by&reflink=article_copyURL_share https://www.wsj.com/articles/canadas-poor-productivity-has-r... Thirdly, Canada is cold and as a result we need a lot of energy to exist. Are energy prices declining? https://www.cia.gov/the-world-factbook/field/energy-consumption-per-capita/country-comparison/ https://www.cia.gov/the-world-factbook/field/energy-consumpt... Forthly, I'm sure you're aware that the USA is deeply in debt and that the higher interest rates to combat inflation are pinching the ability of governments to operate. What you may not be aware of is that our Central Bank does whatever the Federal Reserve does in terms of rates about 70% of the time. If they did something different, bond traders would likely be able to destroy our currency. So we are trapped right now, hoping inflation ends real soon. Lastly, to paraphrase a Mexican saying:Canada is far from God and too close to the United States. Our best and brightest leave to make 30% more in America, where the language and culture is very similar. We have been watching American television our entire lives. We don't have a market of 350 million people to sell to, and out government protected oligopolies are not able to compete in the USA. Our banks are making a push, but that's likely to be regional In America and not national. This sums up the business climate. https://www.cbc.ca/amp/1.1013522 https://www.cbc.ca/amp/1.1013522 Personally, I've also noticed that because there are basically 4 companies to work for in any vertical, and there are fewer tier 1 cities to work in in Canada, middle management here is mostly concerned about avoiding mistakes rather than competing and excellence. But I don't really know America, it seems like it's a hyper competitive place where you don't get to take your vacation time, and heaven help you if you really need a doctor and you are poor. Every country sucks in its own way.

ilrwbwrkhv 3y ago

And this blown up to the scale of an entire country is why Canada is suffering so much today. On every metric of measurement they are going down because the ability to take risks is simply missing in the country.

arcticbull 3y ago
It's also because the many Canadian risk-takers moved to the Bay Area for the concentration of talent and high pay. It's easy to fly down with $50 and an offer letter to work anywhere you want for 3 years (indefinitely renewable) as a software engineer on TN status. Then you can take all the time you need to win the H-1B lottery, or just petition I-485 directly off TN (additional risks apply petitioning directly from nonimmigrant status, this is not immigration advice, ask an attorney, etc).
- 486sx33 3y ago
  Canadians and democrats belong in Toronto. TN should never have been opened to software engineers. Software can be done remotely from anywhere.
  - deleted 3y ago
    [deleted]
  - deleted 3y ago
    [deleted]
okdood64 3y ago
> because the ability to take risks is simply missing in the country. Never heard of this before, interesting! Can you direct me to some sources or YouTube video about this? I'd love to learn more.
- willhslade 3y ago
  Not OP but I'm a Canadian who follows the news so I'll pitch in. Canada is suffering a few things right now. Definitely a housing crisis, which seems to be everywhere in the Anglosphere but I'm pretty sure we have it the worst. Couple charts. Disposable income vs house costs, USA then Canada. https://www.reddit.com/r/canadahousing/s/SIRo14xudI https://www.reddit.com/r/canadahousing/s/SIRo14xudI Relatedly, debt to income ratios, Canada vs USA. https://ritholtz.com/2013/10/household-debt-to-income-ratio-usa-vs-canada/ https://ritholtz.com/2013/10/household-debt-to-income-ratio-... So Canadians like to spend too much for housing, live credit and thus don't invest. Why do they do that and does that matter? Well, we do that mainly because house appreciation isn't taxed as income (risk aversion in action) and it does matter because it crowds out investment in things businesses use to make money. WSJ has argued that this is the second leg of the crisis: we can't earn our way out of it, because our productivity is poorer than the USA, at 71%. https://www.wsj.com/articles/canadas-poor-productivity-has-reached-emergency-status-senior-central-bank-official-says-1549142c?st=u7ypu1so0crd9by&reflink=article_copyURL_share https://www.wsj.com/articles/canadas-poor-productivity-has-r... Thirdly, Canada is cold and as a result we need a lot of energy to exist. Are energy prices declining? https://www.cia.gov/the-world-factbook/field/energy-consumption-per-capita/country-comparison/ https://www.cia.gov/the-world-factbook/field/energy-consumpt... Forthly, I'm sure you're aware that the USA is deeply in debt and that the higher interest rates to combat inflation are pinching the ability of governments to operate. What you may not be aware of is that our Central Bank does whatever the Federal Reserve does in terms of rates about 70% of the time. If they did something different, bond traders would likely be able to destroy our currency. So we are trapped right now, hoping inflation ends real soon. Lastly, to paraphrase a Mexican saying:Canada is far from God and too close to the United States. Our best and brightest leave to make 30% more in America, where the language and culture is very similar. We have been watching American television our entire lives. We don't have a market of 350 million people to sell to, and out government protected oligopolies are not able to compete in the USA. Our banks are making a push, but that's likely to be regional In America and not national. This sums up the business climate. https://www.cbc.ca/amp/1.1013522 https://www.cbc.ca/amp/1.1013522 Personally, I've also noticed that because there are basically 4 companies to work for in any vertical, and there are fewer tier 1 cities to work in in Canada, middle management here is mostly concerned about avoiding mistakes rather than competing and excellence. But I don't really know America, it seems like it's a hyper competitive place where you don't get to take your vacation time, and heaven help you if you really need a doctor and you are poor. Every country sucks in its own way.