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Liam
@liam.eth
Can't believe they had the gall to write, in bold and italics: "This is not expected to hurt Canada's business competitiveness." https://www.canada.ca/en/department-finance/news/2024/04/tax-fairness-for-every-generation.html
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@thumbsup.eth
Why would it? It’s still lower than most states and way lower than most of Europe. Wherever people would go to avoid this, they were already going to
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Liam
@liam.eth
Your argument is that Canada is already hopeless and we should just give up? Besides the increased capital gains rate, which means less reinvestment into Canadian startups (by angels, and less funds), the entire budget is anti-entrepreneurship. Why would anyone start a company here?
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@thumbsup.eth
1. The cap gains rate is marginally increased and only gains over $250k and as @shazow.eth pointed out compared to California is still lower. 2. Fuck angel investors. The entire system by which we fund startups is toxic and I hope it dies. 3. If you can’t think of a reason, I wish you well wherever you are 🤝
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shazow
@shazow.eth
I'll take the other side: I'd rather have more angels than VCs/family offices/hedge funds. Angel investment around silicon valley is closer to mutual aid than any of the alternatives. (Or at least was in the 2010s when I lived there.)
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@thumbsup.eth
I agree with your premise but in any case I prefer collectively funding things. 1 VC or 1 hedge fund leads to the same perverse incentives. Even a few of each is not sufficient. Think of how much better projects would be funded if they had to seek a broad group of small funders to get bootstrapped.
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shazow
@shazow.eth
I agree, we should have much more incentives towards co-op structures (tax incentives for membership loans?), but angel investing is the closest thing available for peer to peer funding in startup land and often has some active labour. 1 VC represents many LPs (who do "nothing"). Hedge funds represent even asymmetry.
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