Canada is the best place for a startup to knuckle down and work on a product that they believe in, Shopify’s Tobias Lütke said on the first day of Montréal’s Startupfest.
Lütke, in an discussion with Re/code’s Kara Swisher, told the audience that Canada didn’t lend itself to explosive growth, but is a good place for a startup to build a growth culture: a sentiment shared by tech industry thought leader Tim O’Reilly:
Work on stuff that matters. @noahi #Startupfest pic.twitter.com/HllgNy8SaF
— beeye (@mybeeye) July 14, 2016
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Still, a more subdued environment isn’t an excuse for complacency.
It’s critically important to “keep connecting with the front line,” an effort that Blackberry didn’t make, Lütke said, referring to the once-dominant smartphone maker based in Waterloo, Ontario. “Stay hungry,” he warned.
To achieve this, bring people on your team that think as founders and builders, not just joiners, said Shopify COO Harley Finkelstein. It’s important to keep your team focused, which is why he worked to keep Shopify’s culture open despite its rapid growth.
“We’re a company that sets our philosophy around personal growth where people are comfortable with the uncomfortable,” he said.
Young companies bring their ‘A’ game to Montréal for Startupfest https://t.co/wiBasVIHhV#startupfestpic.twitter.com/prqhdcqZzG
— Tourisme Montréal (@MeetMontreal) July 14, 2016
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Frequently Asked Questions
What did Tobias Lütke say about Canada as a place for startups in 2016?
Speaking at Startupfest in Montreal in 2016, Shopify's Tobias Lütke said Canada is the best place for a startup to knuckle down and work on a product it believes in. It does not lend itself to explosive growth but is good for building a growth culture.
Does a quieter environment mean startups can relax?
No. Lütke said a more subdued environment is not an excuse for complacency, and urged startups to stay hungry and keep connecting with the front line.
What lesson did Lütke draw from BlackBerry?
Lütke said it is critically important to keep connecting with the front line, an effort BlackBerry, the once-dominant Waterloo smartphone maker, did not make.
What kind of people should startups hire, according to Harley Finkelstein?
Shopify COO Harley Finkelstein said that to stay hungry, startups should bring people onto their teams who think as founders and builders, not just joiners.
How did Shopify keep its culture as it grew?
Finkelstein said he worked to keep Shopify's culture open despite rapid growth, with a philosophy built around personal growth where people are comfortable with the uncomfortable.