I’m Canadian and disappointed at how ineffective we are at building successful companies.
You might want to blame the government or this or that but I think as a Canadian I've finally come to reckon with the fact that it's just not in the Canadian ethos to do risky things like make startups. Of course there are exceptions to the rule but they are very very rare. Canadian investors don't want to take big risks and the Americans are just next door waiting to gobble up the talent in search of capital.
What’s the worst that happens? It doesn’t work out and after five years you go get a job in boring corp corp with an incredible skillset and vast life experience.
You’ve sacrificed some income perhaps, but so what? People make choices like that all the time. Your working career could easily be 40 or 45 years, 5 is not that much and it’s not like you went bankrupt. Your skillset might even mean you more than make up for lost time.
I don’t understand the talk of “risk” unless you’re Elon Musk betting the farm on your businesses and facing bankruptcy.
Work in your spare time until you have something Angel worthy, then get a modest salary to get to the next level and on you go. Or just bootstrap.
Is it easy? No, it’s the hardest thing you’ll ever do. Is it risky? Not so much.
So why do Canadians and Brits see it as a risky thing to do? I think they don’t. What they see is _uncertainty_ - where will I be in six months? What if it doesn’t work out? What if I fail and people judge me? They don’t like uncertainty. That is conservative with a small c. Probably it’s a cultural artefact rather than anything remotely rational. The problem is you end up in an equilibrium where the society is conservative (“what you wanna do wasting your time with that”) so the ambitious people just leave and go to somewhere like (parts of) the US where people want to change things, make things, improve the world. And the conservative society gets more conservative until it is ossified.
Startups carry high uncertainty but not high risk.
Or I can fail at a startup and be close to zero five years later, the fact that you aren't homeless and starving and can get another job doesn't mean it wasn't risky, you still wasted a bunch of years compared to slow and steady accumulation.
I've read the majority of millionaires in the US get created like this, working and saving through decades.
You're basically repeating investor kool-aid, because for their model to work, 100 people will fail and 1 succeed, and so they tell you to not worry if you're in the 99.