Jim Balsillie
speaker
218 appearances
1 recordings
1 series
first heard Mar 2025
last heard Mar 2025
Jim Balsillie’s voice in public audio — every appearance, attributed to the second.
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Appearances
Well, the government is making the market. It manufactures the assets in the market and it changes them a hundred times a day in the knowledge economy.
And you have to have a plan for getting your words in there to advance your specific interests through your advisory councils, which is the opposite of hands-off.
Okay, so that's a reasonable coverage of our... Yeah, and what bothers me so much about this, you have this country with so much potential. We have brilliant innovators. We have brilliant researchers. We come up with... earth-changing ideas, and we don't capitalize on them. We give them away.
So our economic structure should be much more like the Scandinavians in the U.S., but our economic structure is much closer to Russia's right now because of this abdication. And so you also mentioned in Google really quickly that the taxpayers in Canada... spent 30 years funding the fundamental artificial intelligence at University of Toronto and in Alberta.
So the number three AI research center in the world is in Alberta, in Edmonton. Number five is in Toronto. We gave essentially all that away to Google and other US tech companies. So Canada- So what kind of loss is that in economic terms, do you suppose? Trillions. Trillions.
And you take a trillion away or you take a couple hundred billion dollars of earnings a year on a trillion dollar asset, that's the difference between an enormous budget surplus paying for military and health care and public safety along the way versus a deficit.
And better paychecks versus a deficit that is eroding those services.
And by the way, real quick, also – We also invented fundamental technology for battery, taxpayer-funded from Dalhousie, that we transferred to Tesla. No economic benefit to Canada. The prof gets the research papers. We have fundamental technology for mRNA out of UBC that we don't have any economic benefit for Canada.
We have fundamental telecommunications technology, which we transferred from a couple dozen researchers in many universities to Huawei with no economic ownership back to Canada. This... inattention to owning the assets of IP and data and is an orthodoxy in Canada that is inexplicable, that puts us, that is unique to Canada. I've not seen it anywhere else in the world and it's put us in last place.
Okay, so Jim, one more thing.
Absolutely not. Absolutely not. That's a false myth. perpetrated by the policy community that thinks they've done it right when they've done it exactly wrong to manufacturing excuse why their strategies didn't work. The US is, I believe now, the largest oil producer in the world. don't see any resource curse there.
The Scandinavians, Finland, Norway, Sweden, Denmark, tremendous productivity and prosperity and innovation, absolutely bursting with resources.
If others with resources don't have that curse, it's a different kind of curse. Because you're saying in the resource curse, if you have resources, you won't be productive.
So this is the curse of being... But others with lots of resources are extraordinary. They're world-leading.
Yeah. As well as these others. The curse of false myths by those who have failed us.
And they've got lots of other ones of complacency, and they use that, and we'll go at... cases in a few minutes on those who use this sitting on dead money complacency stuff, but not quite right now because they use that as an excuse mechanism, but let's keep on this.
Yeah, sure. Well, I wrote a piece, which possibly you can put on a link during this thing called We're All Economic Nationalists Now. And the reason I used that was that it's a phrase for strategic U-turns, coined by Milton Friedman.
The darling of the free marketers. The darling of the free marketers. Because he famously said in the late 60s, we're all Keynesians now. So he spent 20 years fighting Keynes. And then when there was a crisis with Nixon and they had to respond to it with a bunch of new monetary and fiscal structures, he said, well, we're all Keynesians now. Keynes was an interventionist compared to Friedman.
And Friedman was at war with him. Right. He represents the opposite. And what he's fundamentally saying is that economics is a social science, not a natural science. And you have to tune your behavior to the facts on the ground. So if you are a Friedmanite in this contemporary reality, then attune, period.
And the nature of the geopolitical era of strategic behavior. So responding very specifically to what you said, the question you asked on Trump, when you go to an intangibles economy... When you're producing economy, you trade on a principle called comparative advantage. Yeah, lay that out.
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