alt Hacker NewsIn Canada this is a huge scam. The government advertizes that it's funding incubators. Great, right?
The money doesn't go to the start ups - it all goes to large tech companies like IBM, etc, because, obviously, IBM knows about innovation.
The cover is that the government doesn't know tech so it will give money to trusted partners and they will choose who to give the money to because they've been doing such a great job innovating in Canada. Surprise: they gave the money to themselves!
You might have wondered why all these incubators in the crypto era were desperate to get you to go to their office. You might have also wondered: what fool is paying for this nice office in downtown Toronto where the prices are crazy-high? The taxpayer.
All of that money was completely wasted and worse, little of it went to actual start ups.
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Canadian fraud is on another level. When I worked for a Dutch company my boss forced me to take a sales pitch from some Canadian startup. They claimed to have some new magic wireless electricity technology using new unreleased quantum physics principles or whatever and had actually managed to get a significant contract from some part of the Canadian government (that was the only part of the pitch that was not a lie). The website was screaming scam with: crypto AI quantum compute, etc. The sales pitch was an actual live videocall where they just told us a bunch of lies straight to our face.
First and last time I ran into something so blatant. We didn't fall for it btw.
Governments should really get out of it's free money crap everywhere. Only people that care should be giving out money so that they can look at their investments and make sure they want to keep spending.
> The money doesn't go to the start ups - it all goes to large tech companies like IBM, etc, because, obviously, IBM knows about innovation.
And the big accounting firms.
It's incredible how efficiently they divert all activity and attention from the core task, and then wonder why things don't take off.
Meanwhile they haven’t raised the HST/GST threshold to start collecting from the $30k in sales it was since the tax was launched in the early 90s.
You know, just something that could provide a little leg up to every small business until they’re not small anymore. But no, inflation doesn’t exist!
I'd never heard of this. Can you provide a link?
I'd be very interested in reading about this fraud.
This happens in the US, too. Maybe with different drivers, though certainly money moves to people close to the problem.
Now wouldn't it be interesting to dive into how old the extortion tactic of creating the problem you solve goes?
Canada has the same GDP as Texas (well worse). It is a 2nd world economy. You are better off getting a job in El Paso.
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If you can read it, here's the same story happening in Hong Kong, but with outright fraud on the recipients' end.
https://thecollectivehk.com/%e7%a7%91%e6%8a%80%e5%88%b8%e8%a...