TheTrueNorthPod retweeted
Really enjoyed doing @TheTrueNorthPod where we dig into the Clio journey, our AI transformation, the challenges of scaling in Canada, and what it takes to build a generational company.
Two best friends from Edmonton swore off VCs, found their first investor in a spam folder, and built a $5 billion company from Burnaby, BC.
My conversation with @jack_newton and Rian Gauvreau, the founders of @goclio is live:
0:00 Intro
3:53 Would you build it here?
16:57 Capital will find you
20:50 Two idiots from Edmonton
32:02 Why doesn't Claude eat your lunch?
43:58 Four steps to the epiphany
49:37 Sell work, not software
55:09 The shoe company
1:03:18 The spam folder
1:10:44 From "f*** VCs" to $2 billion
1:17:05 The Sagrada Família
1:23:31 Prosperity is a choice
Follow @TheTrueNorthPod for more untold Canadian founder stories.
Two best friends from Edmonton swore off VCs, found their first investor in a spam folder, and built a $5 billion company from Burnaby, BC.
My conversation with @jack_newton and Rian Gauvreau, the founders of @goclio is live:
0:00 Intro
3:53 Would you build it here?
16:57 Capital will find you
20:50 Two idiots from Edmonton
32:02 Why doesn't Claude eat your lunch?
43:58 Four steps to the epiphany
49:37 Sell work, not software
55:09 The shoe company
1:03:18 The spam folder
1:10:44 From "f*** VCs" to $2 billion
1:17:05 The Sagrada Família
1:23:31 Prosperity is a choice
Follow @TheTrueNorthPod for more untold Canadian founder stories.
Also on YouTube and wherever you listen to your podcasts: youtu.be/E3Gpr_ioi4A.
Follow @TheTrueNorthPod, we're telling these stories so the next generation builds here 🇨🇦
Faire's first trade show (now a $5B business). A basement booth. The cheapest spot they could afford.
Co-founder Marcelo Cortes (@mescortes) describes it as "probably one of my worst times at the company."
A man points to a picture in their booth and asks what it is. Marcelo Cortes pitches it to him...
He responds: "It's my brand. Why are you selling it?!"
Marcelo: "Why don't you talk to my CEO? Max, come here."
While Max kept him talking, Marcelo and Daniele swapped the picture out under the table.
Four days, ten hours a day. Total sales: $3,500.
Everyone celebrates the billion-dollar success.
What people don't understand is that it takes a lot of 'disaster trade shows' to get there.
📌 Watch the full episode on YouTube (or wherever you listen to your podcasts): youtu.be/VVneUNDqGjo?si=EoS8…
🇨🇦 Subscribe & follow for more untold Canadian founder stories
"Is AI going to kill engineering? Is the SaaS apocalypse real?"
@mescortes: "That's BS."
Marcelo is the co-founder and CTO of Faire, a $5.2B company he runs from Waterloo. Before that, he helped build Cash App for Jack Dorsey's Square.
His full answer:
"Claude is not going to kill engineering. It's changing engineering"
"You're not the one writing the code anymore. That first 10% of the job? It becomes 90% of the job."
"Engineers are going to keep being really important. If not more important than before."
The full conversation covers how AI is reshaping his engineering teams — and how Faire went from $3,500 in sales to billions. Link in the comments.
Follow @TheTrueNorthPod for more untold Canadian founder stories 🇨🇦
The full conversation is live. Marcelo on AI, the SaaS apocalypse, and building a $5.2B company from Waterloo:
youtu.be/VVneUNDqGjo
Silicon Valley asked Marcelo Cortes (@mescortes) to move. Over and over.
He said no and built a $5.2 billion company from Waterloo instead.
Most Canadians have never heard his name. That changes today.
He co-founded @faire_wholesale with Max Rhodes (@MaxRhodesOK) and (@danieleperito). It's how hundreds of thousands of independent shops find the products on their shelves.
Every Canadian should know Marcelo's story, so we're telling it.
The full episode of @TheTrueNorthPod is LIVE.
It's the whole story: how a kid from outside São Paulo got into Y Combinator and built a $5.2 billion company from Canada, and the exact playbook he used to do it.
Here's what you'll learn:
→ How he built Cash App for Jack Dorsey at Square, then walked away from a fortune to start Faire
→ The word he banned from Faire, and why retailers wouldn't talk to them until it was gone
→ The one change that turned the entire business around
→ 200% growth month over month, and the returns that buried the office
→ Why he tells founders to raise the money: "You make very bad decisions if you are in a financially stressful situation"
→ Why his co-founder calls him the engineer who disappears for a weekend and comes back with an impossible problem solved
→ If he thinks AI will kill engineering
→ What his wife, Adrienne, said when he quit Google, and why he says he wouldn't be here without her
Canada doesn't have an entrepreneur problem. It has a storytelling problem. Marcelo is $5.2 billion of proof.
🎙️ Follow @TheTrueNorthPod for more untold Canadian founder stories.
🇨🇦 Watch the full conversation — link in the first reply
📌 Watch the full episode on YouTube (or wherever you listen to your podcasts): youtu.be/VVneUNDqGjo?si=URGL…
🇨🇦 Subscribe & follow for more untold Canadian founder stories
Everyone says you can't build a real business in Canada.
12 founders are about to tell you why that's bulls***.
"There's a new phase of Canadian entrepreneurship that is loud and proud and f***ing bold."
- Harley Finkelstein, Shopify, Ottawa ($160B).
"Young, innovative folks have to stop thinking they have to leave Canada to be successful. They don't."
- Jeff Shiner, 1Password, Toronto ($6.8B).
"We could change our tax jurisdiction in a heartbeat. We choose to stay here."
- Mike Wessinger, PointClickCare, Mississauga ($5B).
(96% of his revenue is in the US. He stayed anyway.)
8 Canadian companies will cross $1B in revenue this year. Most people can't name three.
"What are you gonna do to make progress here?"
"It's all a choice. Just go out and do it."
Jack Newton, Clio, Burnaby ($5B).
It's time to stop complaining, take the lead, and make Canada the best place in the world to build.
🎙️ Follow @TheTrueNorthPod for untold Canadian founder stories
Video features the following founders who have chose to stop complaining and built in Canada 🇨🇦
@harleyf
@jeffreyshiner
@jack_newton
@mkatchen
@ncawse
@devongall
@mescortes
@stephenseibel
@parkdan
@rkhazzam
@Braatzy
@jeffcanadamson
"THIS IS NEVER GOING TO WORK 💀."
That's what people told @jennaearnshaw while she was raising for @Wisedocsai...right before the AI explosion.
→ "Going through one of our financing rounds, I remember getting no after no after no after no."
She kept going....
Wisedocs has now processed more than 130 million claims documents. Enterprise revenue is up 84x in two years.
→ "The market catching up to that has been so reassuring that we made the right bet."
The lesson I've learned from Jenna and dozens of other founders?
As a founder, you're guaranteed one thing...A lot of no's.
What separates the winners from the losers?
The winners just don't stop.
Follow @TheTrueNorthPod for more untold stories from the founders building in Canada 🇨🇦
-------
And a shout-out to Simple Ventures,
@rachelz_to, @lucyhargreaves4, @buildcanada
& @readthepeak for bringing the Built in Canada Awards to life.
Xanadu has secured a landmark CAD $195 million for Project OPTIMISM, the largest government investment in quantum manufacturing in Canadian history.
As part of Project OPTIMISM, we’re launching Inception, a 158,000 sq. ft. advanced photonics R&D and manufacturing facility.
Inception is designed to enable the scalable production of the components that will power future quantum data centres, which are expected to deliver commercially meaningful solutions.
We’re scaling the global future of photonic quantum hardware, right here in Toronto.
Learn more: globenewswire.com/news-relea…
*Portions of this video contain forward-looking statements, digital renderings and simulations which may differ from the final result.
"Canada isn't a big enough market"
That's what investors told Kyle Zien and Emma Stern when they were raising for Felix.
Felix is now doing close to $200 million in revenue...
I bumped into them at the Built in Canada Awards.
→ "There was a tremendous amount of skeptics around online healthcare."
...Canada was big enough all along. It just needed someone to go for it.
Follow @TheTrueNorthPod for more untold stories from the founders building in Canada 🇨🇦
And a shout-out to Simple Ventures, @rachelz_to, @lucyhargreaves4, @buildcanada &@readthepeak for bringing the Built in Canada Awards to life.
A $6B CEO lesson: everyone wants the title...real leaders lead without one.
I sat down with @jeffreyshiner in his barn in Waterloo, between two tractors (he buys them at auctions and rebuilds them in his spare time).
He ran @1Password for thirteen years, from a $75 app to a $6.8 billion company.
But this story is long before any of that...
He was a few years into his job at IBM. He wanted to be the team lead, so he went to his boss and made his case.
His boss responded in a way he didn't expect...
"Ok, go be the Team Lead, but I'm not going to tell anyone"
Six months later, the job was his for real.
Three people had walked in that day asking to be team lead, and all three heard the same thing.
Jeff was the one who went and did it.
"You're not a leader by title. By rank. A leader leads."
The title follows the work, not the other way around.
Full episode 🎙️ youtu.be/Mb6yNbuvlo4
"These are the exits that you dream of."
I bumped into @mmccauley, co-founder and general partner at @GarageCapital, at the Built in Canada Awards.
In December, Nvidia bought Groq for about $20 billion...the biggest acquisition in Nvidia's history.
Garage Capital is a seed fund in Waterloo, Ontario. They were in it.
→ "We found out the morning that it got announced. It was a very fast-moving deal."
...The best thing about this?
Now, Mike, @michaellitt and @devongall have more $$$ to invest in Canadian startups.
Follow @TheTrueNorthPod for more untold stories from the founders and funders building in Canada 🇨🇦
Ryan Reynolds is on his cap table. His logo is on a Formula 1 car
Jeff Shiner turned a $75 app into 1Password, a $6.8 billion company
And they say you can't build a world-class company from Canada
I sat with Jeff in his barn in Waterloo
His story 👇
TheTrueNorthPod retweeted
The convenience of cloud and the speed of local. ☁️💻
Co-HQ’d in Toronto. 🇨🇦
Congrats to the @getspaceso team 👏
They say to leave Canada for California...He came back.
We bumped into @JustinAtPine, co-founder and CEO of @pine_canada, at the Built in Canada Awards.
→ "I started this business after being really disappointed with the availability of financial services in Canada, spending five years in the US, seeing what Americans had access to and what Canadians didn't."
He came back and built Pine in Toronto...to make this country better.
→ "We're doing 2 billion this year, we want to be doing 10 billion in a few years."
Maybe we need to stop hating on founders who leave for the US.
Let's just make sure they come back.
Follow @TheTrueNorthPod for more untold stories from the founders building in Canada 🇨🇦
And shout-out to Simple Ventures, @rachelz_to, @lucyhargreaves4, @buildcanada & @readthepeak
for bringing the Built in Canada Awards to life.
80 investors said no. His software is now in 80 countries and worth +$350M USD.
I bumped into @scottastevenson, founder of @SpellbookLegal, at the Built in Canada Awards.
→ "We got around 80 no's in our seed round. Generative AI was not a thing."
→ "Legal tech was very unpopular, and every investor I talked to said they don't do legal tech because they don't think lawyers will build products."
→ "And that's why we did it. Because we knew that it was a hard unsolved problem that no one had cracked yet."
Today he says Spellbook is the most used AI contract review tool in the world with +4,000 customers and growing...
Follow @TheTrueNorthPodfor more untold stories from the founders who overcame the odds and built in Canada 🇨🇦
Proud partner of True North Fund, @EYCanada, TD Innovation Partners | #TeamTrueNorth
And shout-out to Simple Ventures, @rachelz_to, @lucyhargreaves4, @buildcanada & @readthepeak
for bringing the Built in Canada Awards to life.






