Jim Balsillie

I retired at the end of 2011 when we had 5.2 billion in revenue on a $20 billion year and moved on to other things and Mike stayed with it. So yeah, that was my experience.

And also do, most of my time is still with my businesses around the world. I spend two thirds to three quarters of my time with my businesses in North America, tech and other, and in Europe and the Middle East. So yeah, most of my, I'm still fundamentally a businessman.

And also do, most of my time is still with my businesses around the world. I spend two thirds to three quarters of my time with my businesses in North America, tech and other, and in Europe and the Middle East. So yeah, most of my, I'm still fundamentally a businessman.

And also do, most of my time is still with my businesses around the world. I spend two thirds to three quarters of my time with my businesses in North America, tech and other, and in Europe and the Middle East. So yeah, most of my, I'm still fundamentally a businessman.

Sure, sure. And again, I come at this as an ardent capitalist, so I'm going to explain how capitalism works and Canada's issue in this and why the US and other like-type economies have thrived so much in this changed era.

Sure, sure. And again, I come at this as an ardent capitalist, so I'm going to explain how capitalism works and Canada's issue in this and why the US and other like-type economies have thrived so much in this changed era.

Sure, sure. And again, I come at this as an ardent capitalist, so I'm going to explain how capitalism works and Canada's issue in this and why the US and other like-type economies have thrived so much in this changed era.

The traditional economy is a production economy where you manufacture goods and you produce them with efficiency and scale and you sell them at a positive margin and you fundamentally compete on cost. And the purpose of trade agreements was to get rid of friction of moving those products or what are called tariffs or border adjustments. And that's the traditional economy.

The traditional economy is a production economy where you manufacture goods and you produce them with efficiency and scale and you sell them at a positive margin and you fundamentally compete on cost. And the purpose of trade agreements was to get rid of friction of moving those products or what are called tariffs or border adjustments. And that's the traditional economy.

The traditional economy is a production economy where you manufacture goods and you produce them with efficiency and scale and you sell them at a positive margin and you fundamentally compete on cost. And the purpose of trade agreements was to get rid of friction of moving those products or what are called tariffs or border adjustments. And that's the traditional economy.

And Canada does that pretty well. It set up foreign branch plants. They brought technology. They brought machinery. They brought capital. They brought management. And when you set up these plants... They create domestic supply chains. They create upskilling of workers. They create domestic tax base.

And Canada does that pretty well. It set up foreign branch plants. They brought technology. They brought machinery. They brought capital. They brought management. And when you set up these plants... They create domestic supply chains. They create upskilling of workers. They create domestic tax base.

And Canada does that pretty well. It set up foreign branch plants. They brought technology. They brought machinery. They brought capital. They brought management. And when you set up these plants... They create domestic supply chains. They create upskilling of workers. They create domestic tax base.

And you get lots of these positive spillovers and the headquarters gets good performance and everything works great. And that was Canada's prosperity. Canada had tremendous prosperity post-World War II, really up until the early 1990s. About 30 years ago, the US culminated a multi-year effort to birth the knowledge-based economy of intellectual property.

And you get lots of these positive spillovers and the headquarters gets good performance and everything works great. And that was Canada's prosperity. Canada had tremendous prosperity post-World War II, really up until the early 1990s. About 30 years ago, the US culminated a multi-year effort to birth the knowledge-based economy of intellectual property.

And you get lots of these positive spillovers and the headquarters gets good performance and everything works great. And that was Canada's prosperity. Canada had tremendous prosperity post-World War II, really up until the early 1990s. About 30 years ago, the US culminated a multi-year effort to birth the knowledge-based economy of intellectual property.

And so this culminated with putting in the NAFTA agreement, extensive intellectual property provisions in 1994, But also in the World Trade Organization, the U.S. led a five-year exercise to globalize intellectual property rights. And it was called TRIPS, the Trade-Related Aspects for Intellectual Property Systems, I think something like that. And so the world shifted to...

And so this culminated with putting in the NAFTA agreement, extensive intellectual property provisions in 1994, But also in the World Trade Organization, the U.S. led a five-year exercise to globalize intellectual property rights. And it was called TRIPS, the Trade-Related Aspects for Intellectual Property Systems, I think something like that. And so the world shifted to...

And so this culminated with putting in the NAFTA agreement, extensive intellectual property provisions in 1994, But also in the World Trade Organization, the U.S. led a five-year exercise to globalize intellectual property rights. And it was called TRIPS, the Trade-Related Aspects for Intellectual Property Systems, I think something like that. And so the world shifted to...

amassing IP assets and collecting a rent. So it stopped being a production-based economy only, and it became a two-legged race, liberalizing markets, capital, and labor through production economy, Ricardian comparative advantage of making things, to a parallel race of enclosing knowledge, using agreements to spread friction and monopoly to capture a rent based on an idea.