Jim Balsillie

But he uses further 1970s economic analysis that he says, because he very famously said, businessmen are sitting on dead money. It's a very famous expression, he said. And he said that we use shovels instead of excavators, backhoes. He said that, which means we don't invest in technology. So the key is that if you just...

But he uses further 1970s economic analysis that he says, because he very famously said, businessmen are sitting on dead money. It's a very famous expression, he said. And he said that we use shovels instead of excavators, backhoes. He said that, which means we don't invest in technology. So the key is that if you just...

If business people stopped being lazy and they opened up their wallets and just threw it in there, they would do great.

If business people stopped being lazy and they opened up their wallets and just threw it in there, they would do great.

If business people stopped being lazy and they opened up their wallets and just threw it in there, they would do great.

But it's also a variation of complacency. Yes, exactly. Resource-cursed complacency. And I've been doing business in this country for 35 years. I have never met a CEO who says... I'm just going to take it easy and be on the dock this weekend. I don't want to double my profits this year. I've dealt with money managers all that time, both for investing companies and me putting my money to work.

But it's also a variation of complacency. Yes, exactly. Resource-cursed complacency. And I've been doing business in this country for 35 years. I have never met a CEO who says... I'm just going to take it easy and be on the dock this weekend. I don't want to double my profits this year. I've dealt with money managers all that time, both for investing companies and me putting my money to work.

But it's also a variation of complacency. Yes, exactly. Resource-cursed complacency. And I've been doing business in this country for 35 years. I have never met a CEO who says... I'm just going to take it easy and be on the dock this weekend. I don't want to double my profits this year. I've dealt with money managers all that time, both for investing companies and me putting my money to work.

I have never met a money manager who says, you know, I'm happy to be third quartile this year rather than first quartile because the fishing's good.

I have never met a money manager who says, you know, I'm happy to be third quartile this year rather than first quartile because the fishing's good.

I have never met a money manager who says, you know, I'm happy to be third quartile this year rather than first quartile because the fishing's good.

yeah and and the fact of the matter nobody's sitting back on their laurels every businessman has this nose that they're sniffing for money and they're sniffing how to make money that's the game everybody does that all day every day and for somebody who's been fundamentally a career civil servant and to make these broad articulations

yeah and and the fact of the matter nobody's sitting back on their laurels every businessman has this nose that they're sniffing for money and they're sniffing how to make money that's the game everybody does that all day every day and for somebody who's been fundamentally a career civil servant and to make these broad articulations

yeah and and the fact of the matter nobody's sitting back on their laurels every businessman has this nose that they're sniffing for money and they're sniffing how to make money that's the game everybody does that all day every day and for somebody who's been fundamentally a career civil servant and to make these broad articulations

who has never gone out and got a purchase order and traded Canadian goods globally, that actually means that he doesn't understand the nature of how capital goes in the productivity function. But he's also shuffling off responsibility. Well, the issue is if you don't have the IP... And you don't have control of the AI function. If you put the money in that, that accrues to the owner of that.

who has never gone out and got a purchase order and traded Canadian goods globally, that actually means that he doesn't understand the nature of how capital goes in the productivity function. But he's also shuffling off responsibility. Well, the issue is if you don't have the IP... And you don't have control of the AI function. If you put the money in that, that accrues to the owner of that.

who has never gone out and got a purchase order and traded Canadian goods globally, that actually means that he doesn't understand the nature of how capital goes in the productivity function. But he's also shuffling off responsibility. Well, the issue is if you don't have the IP... And you don't have control of the AI function. If you put the money in that, that accrues to the owner of that.

So it's like you building a house on land you don't own. And we had an economic policy of never owning the land underneath it. And then he says, well, look, if you build a house on that, it's going to be a great, big, beautiful hotel. Don't be so lazy. Where the business kind of goes, I know I don't own the land. I don't know how to own that land.

So it's like you building a house on land you don't own. And we had an economic policy of never owning the land underneath it. And then he says, well, look, if you build a house on that, it's going to be a great, big, beautiful hotel. Don't be so lazy. Where the business kind of goes, I know I don't own the land. I don't know how to own that land.

So it's like you building a house on land you don't own. And we had an economic policy of never owning the land underneath it. And then he says, well, look, if you build a house on that, it's going to be a great, big, beautiful hotel. Don't be so lazy. Where the business kind of goes, I know I don't own the land. I don't know how to own that land.