The president of CIBC Innovation Banking is not concerned about the current technological slowdown.
We’ve had quite a few VCs as guests on the podcast lately, and there’s a reason for that: you like to hear what they have to say.
“When we look at businesses today, it reminds me of what it looked like – how dark it was – in the summer of 2000. You can play through that as an investor and an entrepreneur.”
But that can sometimes feel like what the VCs are telling you is exactly what’s going on. And, frankly, there are simply more insights illuminating the Canadian tech stack.
So today we’re talking with Mark McQueen, President and Executive Managing Director, CIBC Innovation Banking.
CIBC does business with VCs, but also with their LPs and portfolio investments, so Mark may have a broader perspective on the current state of technology, on both sides of the border.
But that broad perspective has some depth behind it: McQueen joined CIBC through its acquisition of Wellington Financial in 2018. So he saw the bursting of the dot-com bubble, the impact of the financial crisis of 2008 on technology, the recent capital explosion and the post-COVID slowdown/market correction. That’s a lot of historical perspective on how circumstances are changing not just for Founders, but also for VCs and LPs. And we talk about all that on the podcast.
But there was one question Mark wasn’t prepared for. One I just had to ask: why exactly did he have to hang up his Blog, which was popular among Bay Street and Canadian tech long before there was a BetaKit. The answer might surprise you.
BetaKit Podcast is hosted by Douglas Soltys & Rob Kenedi. Edited by Kattie Laur. Sponsored by Diuca.