Lack of ambition in Canada creating ‘600-pound beaver in the room’: Shopify president

The president of e-commerce giant Shopify Inc. wants Canada to address a problem he calls “the 600-pound beaver in the room.”

Harley Finkelstein says that problem is a lack of ambition that’s permeating the Canadian psyche and weighing down the country’s tech sector.

He says the lack of ambition has left Canadian companies with a reputation for being acquired while their U.S. competitors grow more dominant by taking them over.

Finkelstein instead wants Canadian companies to focus on striving for more rather than settling for being acquired.

He also adds that he wants more companies to be headquartered in Canada rather than the country being treated like a branch plant for bigger organizations.

Finkelstein’s remarks came in a conversation with astronaut Chris Hadfield during the opening night of the Elevate technology conference in Toronto, where “Dragons’ Den” star Arlene Dickinson and Olympic champion breaker Phil Wizard also took the stage.

This report by The Canadian Press was first published Oct. 1, 2024.