Hot take: Heard a founder on a podcast say 'Toronto's fintech scene is just a copy of Silicon Valley'

I mean, maybe it's just me but that feels off, like we have our own problems to solve here. Has anyone else heard that and got a different take?

3 comments

3 Comments

lunag3025d ago

Nah, some of our fintech stuff is actually pretty unique.

stellanelson25d ago

That founder probably hasn't spent much time on Bay Street lately. Our banking rules and how people use money here are totally different. Is a copy even useful when the problems aren't the same? Sounds like someone just trying to sound smart on a podcast. Why do we always have to compare everything to Silicon Valley anyway?

barbarah1925d ago

Read an article last week about how Canadian banks work with the government on stuff like fraud alerts in a way U.S. banks just don't. It means the whole customer problem is different here. Trying to copy a Silicon Valley app that fixes a problem we don't really have just makes a messy product. Honestly, it feels like some founders see a shiny idea there and try to force it here without doing the homework.

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