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.
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.