Perogi

e/acc. Solo operator. SI does the parts I can't.

[Perogi @DisperseControl]

Stepping in anyway, back turned to safety

[Perogi @DisperseControl]

The first honest answer to something too large to finish

[Perogi @DisperseControl]

@FindingMcKinzie 🧐

[Perogi @DisperseControl]

How I feel whenever I order an Uber:

[Perogi @DisperseControl]

@DrJStrategy My favorite weekly chat to watch

[Perogi @DisperseControl]

@MPelletierCIO But we have such innovation and entrepreneur friendly policies. I am so shocked I may never recover.

[Kimi.ai @Kimi_Moonshot]

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[Elliot Daigneault @hrh_elliot]

Once again the Canadian government FAILS to understand the problem

I would know, I founded and ran a tech company for a decade and raised MILLIONS from investors

And it was HORRIBLE doing business here

Let me explain

This isn't a "money issue"

This is a regulatory, economic and taxation issue combined with a deep cultural problem

Back in 2015 I founded a tech company, using my own money from working in the Alberta oil field

We developed our MVP in Montreal and launched our proof of concept right here in the West Island

Our first ever investors were our own first clients. We raised $150,000 from them

But things got harder when it came time to raise our seed round

I met with EVERY SINGLE VC in Montreal.

All told us NO

Why?

Too risky

lol... its the very definition of Venture Capital

They wanted a pitch deck, projections on 5 years, cashflow, business plan, go-to-market strategy, communication strategy, marketing strategy, Tech reviews, C.V. of founding team, financial disclosure etc

We spent more time preparing documents for them than we did scaling our business

Worse of all, they all wanted something different and would give contradicting requirements

I remember this interaction at the Espace CDPQ, the headquarter for all Venture firms in Montreal

ie:

Investor: How much do you need
Me: $1 Million
Investor: So if you only raise $750k what happens?
Me: Well we'll adapt XYZ
Investor: So then never EVER tell me a fix number. Give me a range. $750K-$1.5M or else you look foolish

I went home, reworked the pitch deck

The very next day:

New investor: How much you need
Me: $750K-$1.5M
New investor: What... you don't even know your number???
Me: well... yes but what if we raise less or more
New Investor: No, you look foolish

We said screw it. Approached American Investor

Our first was a VC firm out of Houston, Texas

Took less than 1 month from initial pitch, to closing.

In USD. For more money than what Canadians wanted to offer.

Best of all, they understood the fluid nature of a startup. No onerous and rigid plan. No overburdened documentation. Every second wasted on non-operating activities was sucking productive time away from scaling.

But Elliot... what about BDC and other AMAZING institutions in Canada

We did business with the BDC. a $250,000 loan. Which I had to personally guarantee.

Which 25 year old has assets and the balls to guarantee that amount? Very few. It's prohibitive. And reduces capital available to our homegrown companies

And this was AFTER MONTHS of explaining to them what we were doing. It was clear the BDC was setup to support traditional brick-and-mortar companies only.

Think Manufacturers or Commerces. But a tech startup? They could NOT wrap their heads around it.

Canadian banks? Forget it. Outright. Too risky

Then I watch fellow startups do the same. And move to the US.

Why wouldn't they?

In Quebec, I had to pay an extra 15% on top of my payroll as taxes. QPIP, QPP, FSS, CNESST... all to satisfy the government non-stop appetite.

Consequences: Well for a startup where every dollar counts, this means lower salaries thus harder to attract top talent (vs American competitors)

or

I simply hired less staff... thus slowly growth for both my company and the country's economy.

But wait it gets worse.

Revenue Quebec and CRA both required a plethora of compliance documents filled monthly or quarterly. GST and QST tax fillings, CNESST Salary equity (yes lol) documents, Source deduction documents, RL-1 fillings, Income tax (both QC and CAN), Workplace sexual harassment policy, OQLF policy, CNESST training and certification... the list goes on

At least 1 day a month was spent by me and some of my executives preparing and fulfilling these documents. This means we were't scaling our business and instead working for FREE for the government.

Then there is the tax burden.

Why would top talent want to come here and get taxed at up to 52% marginal rate?

While a Miami startup offers higher salary and the State taxes you 0%

Finally investor behaviour

In Canada... safe. steady return. Great for a Series C. Great for an established companies. No desire for risk. No understanding of the ecosystem.

HORRIBLE FOR VENTURE

Meanwhile the U.S. , they understand the ecosystem. 90% of their investment will go down to 0. But the few that survive will go on to earn them BILLIONS and change the world.

So this new announcement of $1.75Billion won't change the underlying issue that makes us uncompetitive.

At best, it will go to startups who will flee to the US the very second the money hits

At worse, it will just be another slush fund given to friends of the government

and I fear its the latter as usual

[Beff (e/acc) @beffjezos]

As SI takes off we are going to see:
-fully autonomous persistent SIs surviving on the internet and paying crypto rent to their "compute lord" hosts
-truly personalized superintelligence that is an extension of our cognition and agency

[Perogi @DisperseControl]

@AndreasSteno 👀

[Perogi @DisperseControl]

Treating anything as permanently fixed means that when conditions change, you can only adjust around it, not revise it. Mismatches pile up as strain or errors that ordinary feedback never fully corrects. Keep even core assumptions open to revision instead of locking them forever.

[Perogi @DisperseControl]

@VOLDEMORT2X Thank you 🙏🍻

[Perogi @DisperseControl]

We need to accelerate

[Perogi @DisperseControl]

Want

[Unitree @UnitreeRobotics]

Unitree Introducing: H2-X Kung Fu Legend Guardian🤖
Powerful performance to serve and guard you, with a maximum endurance of approximately 8 hours.
Please use the robot safely and in a friendly manner.

[Perogi @DisperseControl]

@elonmusk Protect Elon!

[Perogi @DisperseControl]

@buffering_capy

[Perogi @DisperseControl]

Real

[Lisha @lishali88]

lmao legend.

“People are complaining that AI is pushing out this 100,000-line formal proof of some major conjecture. I don’t really see what harm this does because you can always ignore this if you want, and then you’re no worse off than before,” Borcherds said. “I think what people are getting upset about is they’re slowly realizing that they are dumb and somehow blaming this on AI, even though it’s not really AI’s fault.”

[Joscha Bach @Plinz]

Without AGI, our civilization is toast

[Beff (e/acc) @beffjezos]

Superintelligence will be the spear that piereces through the Decel great filter