Watch: Fireside Chat and AMA with Shopify’s Tobi Lütke and Satish Kanwar

During the BetaKit Town Hall, a gathering that assembled Canadian founders and leaders to discuss the current status of the nation's tech sector, Shopify CEO Tobi Lütke embraced a theme characterized by "tough love." This theme likely reflects a candid and pragmatic approach to addressing challenges and opportunities within Canada's tech industry. As one of the prominent figures in the Canadian tech scene, Lütke's perspective likely carried significant weight and influence during the event. His emphasis on "tough love" suggests a willingness to acknowledge and confront difficult truths while also expressing a genuine commitment to supporting the growth and development of the sector. Overall, Lütke's participation likely contributed to a thought-provoking and constructive dialogue aimed at driving progress and innovation within Canada's tech ecosystem.

During a fireside discussion and Ask Me Anything (AMA) session in Toronto, Tobi Lütke, the CEO of Canada's most valuable tech company, engaged in a conversation with Satish Kanwar, BetaKit's board chair and co-founder of Good Future, where he articulated his views on Canada's innovation challenges and opportunities. While expressing his willingness to start another company in the country, Lütke also highlighted the need for Canada to have discussions about courage and ambition.

Lütke's remarks come in the wake of the federal budget release, which proposed increasing the inclusion rate that businesses pay on capital gains from 50 percent to 66.7 percent. In response to this proposal, Lütke took to X, a platform for sharing opinions and perspectives, where he shared a message from a friend that humorously criticized Canada's approach to innovation: "Canada has heard rumors about innovation and is determined to leave no stone unturned in deterring it." This statement reflects Lütke's concerns about the potential impact of policy decisions on the innovation landscape in Canada.The proposed changes to capital gains tax have resonated deeply within Canada's tech sector, prompting widespread concern among industry professionals. A significant number of individuals within the sector have expressed their apprehension through an open letter directed at the Canadian government, urging a reconsideration of the proposed tax adjustments. The signatories argue that such changes could potentially impede innovation and hinder the ability of Canadian companies to scale within the domestic market.