Having worked in Toronto's tech scene for almost two decades I just have a big 'meh' response to it.
I now work at Google in Kitchener, and commute from a hobby farm near Hamilton. Quality of life is outstanding. I dread ever having to work in Toronto proper again.
The startup scene in Toronto is a clique. The quality of management talent is sad. After working as employee #4 in a Toronto startup, I jumped ship to work for a late stage startup HQ'd in NYC and the contrast in their management skills and treatment of employees was night and day. Working at a 'hip' company in Toronto they expect you to feel blessed and to take intense sacrifice on their behalf just because you have the privilege of working for something that isn't a bank or insurance company. Meanwhile compensation lags significantly behind what you'd get elsewhere in NA.
And then the rest of the non-startup scene in Toronto is primarily large financial companies, and the work is soul crushingly boring.
As a Toronto-based startup founder, I'm sorry you had that experience! (Shit, how Canadian of me... Apologizing for other people)
In any event, I think for the first time there's a really good cohort of Toronto founders with American-style vision and ability to execute. I don't think we're too far from seeing a couple of unicorns in Toronto that will help to build a stronger ecosystem. And yes, where necessary that means importing American management at great expense.
Toronto has a lot going for it. It's not everyone's cup of tea, as you can attest, but I think it's as good a place as anything to do something great.
With the CAD being low there might be a window where a lot more American capital invests here. Until the price of oil climbs again.
In general it seems like VC-funded companies that go through acquisition here get a far weaker deal than similar companies in the US. And the employees a lesser share of the pie. Maybe that's changing now, but unless the capital is there to invest, I can't see how.
It's improving. The capital is there, you just have to think globally fairly quickly.
We can always whine about how things in Canada are never as good as in <x>, in this case the Valley, but overall it's actually pretty good. I guess the secret sauce is to just get on with doing what you'd do regardless of your circumstances. I personally am not motivated by whether or not I'd get a 30% boost on an eventual exit if we were in the US.
As an employee trying to pay off a mortgage and save for my kids uni, that 30% is important to _me_. So for recruiting good talent (not claiming I'm good talent, but whatever) I'd think it matters a lot.
I worked across Toronto, Markham and now in Guelph bordering on Kitchener. Just the chaos, traffic and costs alone are worth not working at Toronto. I believe that my commute mirrors yours quite a bit, since I commute from the same area.
Having said that, I have references that Wattpad in Toronto is a great place to work. I believe that every place is quite unique and there are diamonds to be found amongst the rough.
I now work at Google in Kitchener, and commute from a hobby farm near Hamilton. Quality of life is outstanding. I dread ever having to work in Toronto proper again.
The startup scene in Toronto is a clique. The quality of management talent is sad. After working as employee #4 in a Toronto startup, I jumped ship to work for a late stage startup HQ'd in NYC and the contrast in their management skills and treatment of employees was night and day. Working at a 'hip' company in Toronto they expect you to feel blessed and to take intense sacrifice on their behalf just because you have the privilege of working for something that isn't a bank or insurance company. Meanwhile compensation lags significantly behind what you'd get elsewhere in NA.
And then the rest of the non-startup scene in Toronto is primarily large financial companies, and the work is soul crushingly boring.