We’ve had quite a few VCs as guests on the podcast recently, and there’s a reason for that: you like hearing what they have to say.
“When we look at companies today, I’m reminded of what it was like – just how bleak it was – in that summer of 2000. You can play through that as an investor and an entrepreneur.”
But that can sometimes create the perception that what VCs are telling you is exactly what’s going down. And, frankly, there are simply more perspectives that inform the Canadian tech stack.
So today we’re talking to Mark McQueen, President & Executive Managing Director, CIBC Innovation Banking.
CIBC does business with VCs, but also their LPs and portfolio investments, so Mark has perhaps a… broader perspective on the current state of tech, on both sides of the border.
But that broad perspective has some depth behind it: McQueen joined CIBC through its acquisition of Wellington Financial in 2018. So he saw the dot-com bubble burst, the impact of the 2008 financial crisis on tech, the recent explosion of capital, and the post-COVID downturn/market correction. It’s a lot of historical perspective on how circumstances are changing for not just founders, but VCs and LPs. And we talk about all of that on the podcast.
But there was one question Mark wasn’t prepared for. One I just had to ask: just why exactly he had to hang up his blog, which was popular amongst Bay Street and Canadian tech long before there was a BetaKit. The answer may surprise you.
Let’s dig in.
The BetaKit Podcast is hosted by Douglas Soltys & Rob Kenedi. Edited by Kattie Laur. Sponsored by Diuca.