Every year CIRA commissions an annual survey exploring how Canadians use the internet and publishes the insights in a new edition of Canada’s Internet Factbook. This year, CIRA is publishing a series of blog posts based on the findings of the 2022 Canada’s Internet Factbook survey. The blog that follows below is the final of four in the series.
Everyone likes to root for the underdog. It’s why we’re fascinated by entrepreneurs, rags to riches stories, and the “move fast and break things” mindset of Silicon Valley.
As the modern-day fable goes, we idealize the lone entrepreneur who tinkers in their garage, a mere David willing to pit their brilliance against the Goliath of the established market. Where so many others fail in their ambition, a few manage to sling that stone on target and topple their much larger competition.
We’ve seen it play out so many times. When Google was on the rise during its “don’t be evil” days, Larry Page and Sergey Brin’s Goliath moment came when they rebuffed a $3 billion Yahoo offer to acquire their search business. Jeff Bezos stood in defiance of Wall Street by quitting his hedge fund job to start Amazon in a Seattle garage, writing its business plan as he drove across the country. Travis Kalanick dared to challenge the entrenched and regulated taxi driver industry in cities around the world with Uber.
In 2022, we have the benefit of hindsight to understand that some of these myths haven’t played out the way we expected. Rather than toppling a Goliath, these Davids have quickly become the new Goliaths of our time. Over the past decade, dominant monopolies have begun to push out competition in regional markets, often at the expense of small and medium-sized businesses here in Canada.
Silicon Valley vs. Canadian media