.@TheHubCanada runs my piece on the risk of a tech exodus due to Bill C-22. The companies aren’t bluffing, and they aren’t misreading the lawful access bill.
https://t.co/5wIcn2XAAx
I’m an eternal optimist and will always want to highlight good progress.
But the more I sit with yesterday’s economic update, the more concerned I get.
1. This government is falling into the trap of focusing on messaging and optics over outcomes. Claiming the new investment fund is a Sovereign Wealth Fund when it’s clearly not is a prime example.
2. There’s a concerning approach to shifting numbers to make our financial position look better than it is.
Most Canadians will miss this, but this government has adopted an approach of presenting figures that show on all-government net debt-to-GDP ratio is at just 10.2 percent while in reality it sits at 75 percent of GDP. The 10.2% figure only works when the assets held by the Canada Pension Plan and Quebec Pension Plan are subtracted…. funds that appear on no government balance sheet and are not available to any level of government to pay off their debts.
3. Spending is still out of control and is leading to rapidly growing interest payments. Our debt is growing so quickly that interest on debt is now the fastest-growing government program, expected to cost more than $80B in four years.
4. There is still no action on the well known, fundamental ways to boost productivity: capital gains and corporate tax reform; aggressive red tape reduction; and bold opening of protected sectors to competition.
Without these reforms, Canada is cooked. Our productivity will continue to slide regardless of the other efforts we make, no matter how well-intentioned.
As a heavy oil expert, with 18 patents in heavy oil production technology development and optimizations, and prior experience as a senior technical SME at a supermajor U.S. oil company that Venezuela still owes money to….I wanted to correct some of the misguided takes circulating on X.
While Venezuela has the world's largest oil reserves, those figures do not translate directly into immediate production flow rates or rapid incremental increases, which demand substantial time and investment.
With the next budget season not arriving until Q3, U.S. producers are currently committed to ongoing projects and contractual obligations. Venezuela's oil faces uniquely difficult geology, low ultimate recovery rates, and severe infrastructure deficits. From my work alongside Venezuelans who actually operated projects there, many cited rampant corruption and logistical nightmares as reasons they left the country. At current oil prices, the massive capital required for meaningful production growth simply isn't justified—one leading expert and good friend, estimates it would take at least 3 years to double output, adding about 1 million bbl/d… so not by next week….Unlike Canada, Venezuela has zero SAGD projects ZERO !!; any greenfield heavy oil development there would require at least $30,000 per flowing barrel, meaning roughly $1 billion!! for every 30,000 bbl/d increment achievable in perhaps three years. They mainly produce cold production, which is cheaper I’ll admit!! But with slower flow rates and rely on diluents and polymers which are enhanced recoveries ( EOR) that require capital and supply of these chemicals and infrastructure… more money. Finally, people seem to overlook the U.S. Midwest (PADD 2), which already processes around 4 million bbl/d of crude, predominantly from Canada ( see pic specifically on 🇨🇦) Venezuela lacks the logistical or practical means to displace that supply. Hope this clarifies things for everyone and helps the understanding of this volatile situation. Thx 🫡🪒
MTV officially shut down its 24-hour music channels yesterday. They ended their final broadcast with 'Video killed the radio star' by The Buggles, the very first video broadcasted by MTV on August 1st, 1981.
A major news story that will not get the coverage it deserves:
Over 300 schoolchildren and 12 teachers have been abducted by gunmen from St. Mary’s School, a Catholic institution in north-central Nigeria’s Niger state.
This updates an earlier count of 215 schoolchildren.
The students are male and female, ranging in age from 10 to 18.
Their kidnapping happened four days after 25 schoolchildren were seized in similar circumstances in neighboring Kebbi state.
Nobody yet claimed responsibility.
Bill C-2 is anti-privacy, anti-rights, and anti-Canadian! We need your voice to stop it. ✊ Tell our leaders to scrap this dangerous bill NOW! #StopBillC2@OpenMediaOrg https://t.co/7a3yW6xg1Z
If Bill C-2 passes, it will become a Criminal Code offence for businesses, professionals, and charities to accept cash donations, deposits, or payments of $10,000 or more. Even if the $10,000 payment or donation is broken down into several smaller cash transactions, it will still be a crime for a business or charity to receive it.
This is similar to Quebec's Bill 54, adopted in March 2024, which empowers police to presume that any person carrying $2,000 or more in cash must have obtained it as the proceeds of crime. Police can seize the money, and the citizen must prove his or her innocence to get it back.
It is true that very few Canadians use cash in the amount of $10,000 or more for a single purchase or donation, but once doing so becomes criminal, it’s easy for the federal government to reduce the legal amount to $5,000, then $1,000, then $100, and eventually nothing.
Restricting the use of cash is a dangerous step towards tyranny and totalitarianism. Cash gives citizens privacy, autonomy, and freedom from surveillance by government and by banks, credit card companies, and other corporations. If we cherish our privacy, we need to defend our freedom to choose cash, in the amount of our choosing. This includes, for example, our right to pay $10,000 cash for a car, or to donate $10,000 (or more) to a charity.
Law enforcement already has the tools to fight crime. Perhaps they need a bigger budget to hire more people, or perhaps they need to use existing tools more effectively. In a free society, violating our right to use cash is not the answer.
Making the case four four unit zoning in Fredericton: There's a lot of loud voices protesting this zoning change. Here's why it needs to go ahead. https://t.co/XAiP3xFrUS
Vamos, @RafaelNadal!
As you get ready to graduate from tennis, I’ve got a few things to share before I maybe get emotional.
Let’s start with the obvious: you beat me—a lot. More than I managed to beat you. You challenged me in ways no one else could. On clay, it felt like I was stepping into your backyard, and you made me work harder than I ever thought I could just to hold my ground. You made me reimagine my game—even going so far as to change the size of my racquet head, hoping for any edge.
I’m not a very superstitious person, but you took it to the next level. Your whole process. All those rituals. Assembling your water bottles like toy soldiers in formation, fixing your hair, adjusting your underwear... All of it with the highest intensity. Secretly, I kind of loved the whole thing. Because it was so unique—it was so you.
And you know what, Rafa, you made me enjoy the game even more.
OK, maybe not at first. After the 2004 Australian Open, I achieved the #1 ranking for the first time. I thought I was on top of the world. And I was—until two months later, when you walked on the court in Miami in your red sleeveless shirt, showing off those biceps, and you beat me convincingly. All that buzz I’d been hearing about you—about this amazing young player from Mallorca, a generational talent, probably going to win a major someday—it wasn’t just hype.
We were both at the start of our journey and it’s one we ended up taking together. Twenty years later, Rafa, I have to say: What an incredible run you’ve had. Including 14 French Opens—historic! You made Spain proud... you made the whole tennis world proud.
I keep thinking about the memories we’ve shared. Promoting the sport together. Playing that match on half-grass, half-clay. Breaking the all-time attendance record by playing in front of more than 50,000 fans in Cape Town, South Africa. Always cracking each other up. Wearing each other out on the court and then, sometimes, almost literally having to hold each other up during trophy ceremonies.
I’m still grateful you invited me to Mallorca to help launch the Rafa Nadal Academy in 2016. Actually, I kind of invited myself. I knew you were too polite to insist on me being there, but I didn’t want to miss it. You have always been a role model for kids around the world, and Mirka and I are so glad that our children have all trained at your academies. They had a blast and learned so much—like thousands of other young players. Although I always worried my kids would come home playing tennis as lefties.
And then there was London—the Laver Cup in 2022. My final match. It meant everything to me that you were there by my side—not as my rival but as my doubles partner. Sharing the court with you that night, and sharing those tears, will forever be one of the most special moments of my career.
Rafa, I know you’re focused on the last stretch of your epic career. We will talk when it’s done. For now, I just want to congratulate your family and team, who all played a massive role in your success. And I want you to know that your old friend is always cheering for you, and will be cheering just as loud for everything you do next.
Rafa that!
Best always, your fan,
Roger
Here is how Ruth Chepngetich split the 2024 Chicago Marathon en route to her INCREDIBLE 2:09:57 world record.
5K – 15:00
10K – 15:14
15K – 15:18
20K – 15:19
25K – 15:26
30K – 15:32
35K – 15:43
40K – 15:39
Then closed hard to get under 2:10.
Oh my word!
#ChicagoMarathon
Manufacturers are trapping us in planned obsolescence. It's time to reclaim our #RightToRepair and break their monopolistic control! 🚫📱 Sign the petition now to demand better support and stop e-waste before the consultation closes on Sept 26! ✊🔧 https://t.co/inr2ojnaKh
Betrayal of Canadian Democracy and Parliament by the Speaker of the House of Commons and the Speaker of the Senate
Speakers of the House of Commons Anthony Rota and Greg Fergus @HoCSpeaker@GregFergus@AnthonyRota and Speaker of the Senate Raymonde Gagne @SenGagne betrayed Parliament and betrayed Canadian Democracy on 3rd October 2023 by Failing to Protect Parliamentary Privilege and supporting the Denial of Parliamentary Privilege (thereby allowing the Trudeau Government to keep secrets regarding foreign interference and other intelligence matters from challenge in Parliament).
1. The NSICOP law, which creates the intelligence Committee that reports to Prime Minister Trudeau personally (and is not a Committee of Parliament) and is being used to hide evidence of foreign interference from Parliament, has a highly unusual provision (so unusual it has no precedent in the Commonwealth or USA).
https://t.co/tvZ5YdWOYc
2. The NSICOP law says in Section 12 that MPs who learn information through NSICOP may not rely on Parliamentary Privilege as a defence against disclosure. This is a radical departure from British and Canadian laws in force since 1689.
https://t.co/4KvrobbCaB
3. The purpose of Parliamentary Privilege is to allow legislators and legislatures to carry out the primary functions of deliberating, legislating, and holding the government to account. This includes Freedom of speech: Members have immunity from prosecution for any comment made in the Chamber or in committee.
https://t.co/Fx3Ins1heV
4. The NSICOP law denies this Parliamentary Privilege of Freedom of Speech to allow Members of Parliament to be able to challenge the Government and reveal truth to the public.
https://t.co/Fy1Da7OtcR
5. A Canadian Law Professor, Ryan Alford @ryan_p_alford , bravely and rightly challenged this provision of the NSICOP law to try to protect Parliamentary Privilege and Free Speech to be able to challenge the Government. The Ontario Superior Court of Justice agreed with him and struck down the legislative provision limiting Parliamentary Privilege.
https://t.co/deM21HKVu4
6. The Trudeau Liberal Government wanted to keep Parliament muzzled, and so it appealed this decision to the Ontario Court of Appeal. The Court of Appeal upheld the legislative provision. The matter is now being appealed to the Supreme Court.
https://t.co/n1ZdmEYrEz
7. What is really shocking to me though is that the Speaker of the House of Commons and the Speaker of the Senate failed to make arguments defending Parliamentary Privilege and protecting Parliament (which is their role and responsibility). Instead they intervened IN SUPPORT of the elimination of Parliamentary Privilege. They put loyalty to the Trudeau Government ahead of protecting Parliament.
8. In the process, the Speakers have supported the law which is keeping secret the identity and details of Traitors in the House of Commons and the Senate.
9. There needs to be a lot of questioning and challenge to the Speakers as to why they did this, and Speaker Fergus ought to consider intervening in support of the appeal by Alford to the SCC to protect Privilege.
More to come on this point.
cc: @RobMoore_CPC@CPC_HQ@AndrewScheer@yfblanchet@DonPlett@BlocQuebecois
So long to our friend, our king, Bernard Hill.
We will never forget you.
“For he was a gentle heart and a great king and kept his oaths; and he rose out of the shadows to a last fair morning.”
photo by Viggo
I went to visit @imranchaudhri from @Humane tonight and got to see his product. I just got home. My breathless hot takes follow.
1. This guy is a wonderful man with incredible sincerity.
2. This hardware is IMPECCABLE. Like holy shit. I have never, ever, ever seen a piece of hardware from any company, including Apple, that is as beautiful and well built. It’s so strange to hold this collection of objects. It’s like a parallel universe Apple system. Oh, and keep in mind that this is a V1 startup product. Think about every single startup hardware product you’ve ever bought. They're ALL terrible.
3. This product was created by ~200 people. Which is also shocking.
4. All from an office in SOMA, in San Francisco! Not where I would have guessed.
5. Their vision (as I understand it) is a slam dunk: build the AI-generation personal computing system of the future. Today we use UIs, next we’ll use conversation. This has been drempt of and imagined in sci fi for forever. It is GUARANTEED to be a major part of the future. Probably in ~10 years at this rate. The question is who will build it.
6. Their product today is early for this general use case. As detailed by @MKBHD. IMO they fucked up badly by allowing anyone to imagine that they thought it was. But it is ready for a bunch of specific use cases. Think ER nurses or first responders needing realtime translation and hands-free communication. It’s really good at that! Think parents who want a first computer for their kids to ask questions with. It’s really good at that! There are more, and these two alone are massive markets.
7. Many of the tech problems that were easy for @MKBHD to point out will obviously quickly go away. E.g. LLMs will get faster, quickly. And in general they will learn from this feedback for V2.
8. They might not make it, because trying to disrupt contemporary personal computing is so obviously literally 1000X harder than building a SaaS app. But IMO they have WAAAAY more potential than the tech haters think.
9. I have no skin in the game. Don’t know the team. I just reached out yesterday. But if there’s any one company I would do just about anything to help and see win, it’s these guys. Earnest, brave, crazy, beautiful craft, invention, innovation, and ambition like this is so rare, and such a thing to behold.
10. The anon haters so badly want to see this fail. I’d love if the rest of us builders could get on their side and give them a chance to win.
The first person who can figure out how to build a
1) daycare
2) remote co-working space
3) coffee shop
into a single building with a subscription... will become a billionaire in 2024.
I’ve been taking the driverless robotaxis around SF.
They’re safe and fun. Also slower and less efficient than Ubers, because they’re strict rule followers.
What’s wild is that we’re back to a world human-taxis are expensive and hard to find. Suddenly it’s easier and cheaper to call a robotaxi!
Last night I waited 30 minutes and two cancels from Uber before I called the Cruise and it came in 5.
It’s fascinating to watch a labor shortage get solved by robots.