Adam McNamara
@adammcnamara
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Angel investor in deep tech for a better future, like nuclear micro-reactors, grid-scale batteries, and AI that designs new medications. Ex @Shopify
Oakville, Canada
Joined June 2008
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都知事選
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小池百合子
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蓮舫さん
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織姫と彦星
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民主主義
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東京都民
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小池さん
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石丸さん
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石丸伸二
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出口調査
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当選確実
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公職選挙法違反
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石丸2位
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開票速報
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蓮舫3位
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#ブラックペアン
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Recep Tayyip Erdoğan
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Abhishek Sharma
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東京終了
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選挙速報
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短冊メーカー
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ゼロ打ち
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無党派層
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プロジェクションマッピング
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日本終了
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安野さん
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#七夕の願い事2024
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蓮舫氏ら
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ちゃんみな
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予想通り
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Pinned Tweet
Hey
@fordnation
@KingaSurmaMPP
"it is our opinion that buildings A, B and C are currently safe for occupancy until October 31, 2024."
You keep Science Centre open for children all summer, and I'll personally pay for the 2024 panel remediation recommended by your engineers.
The Ontario government is shutting the Science Centre today citing an engineer’s report – which does *not* say the place must close or that all work is urgent. What a betrayal.
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Hundreds of pages (and cups of coffee later), I finally understand the government's push to move Science Centre.
Hint: it's not about the building.
Let's explore:
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The original
@OntScienceCtr
architects will work on the repairs for free.
@EllisDon
, will you step up and help preserve this landmark?
I called the architectural firm that built the Ontario Science Centre — Moriyama Teshima — for comment. They have issued a statement supporting the current site. And they’re offering free consulting services to get roof repairs made and the Science Centre reopened.
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I’m not doing any interviews (that’s not me), so I’ll leave it at:
Giving tens of thousands of children and their families the opportunity to fall in love with science seems like a great way to be helpful.
Ty✌️❤️
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Moving Science Centre to Ontario Place seems to be about:
1. Making Ontario Place look less bad,
2. Filling buildings no one wants, and
3. Making Science Centre's Don Mills site available for private development.
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@fordnation
@KingaSurmaMPP
I'm removing my related thread because I'd prefer public officials lead that inquiry.
If lack of money for repairs is truly the only thing keeping OSC closed this summer, my friends and I are happy to help.
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The government's Business Case is clear:
Moving Science Centre is an effort to make privatizing Ontario Place look less bad, and make Don Mills available to developers.
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Geoff Hinton, the godfather of AI, is in for $1M!
Don’t let our monument of science education become a sideshow at a spa.
What other leaders should join the fight?
EXCLUSIVE: Geoffrey Hinton, the Toronto computer scientist often called the "godfather of AI," offers $1-million to fix the Ontario Science Centre's roof -- but only if the province agrees not to move it to Ontario Place
#ONpoli
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To justify it, they're using bad assumptions they hope no one notices.
But we do.
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Moving Science Centre to Ontario place could "counter negative perceptions of the commercialization and privatization of this unique waterfront public asset."
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It's fair for a government to say "we want the Science Centre site, and we want to fill some other unused buildings."
But they didn't.
Instead, they called Science Centre "run down", "falling apart", and "unsafe."
They didn't talk to us like we're adults, and now everyone is
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Thanks to our tax dollars, public transit has made the existing Don Mills site worth $285-$305M to private developers.
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@TikTokPolicy
You mean…like all Western social media in China?
Please link to where you stand up for free speech there.
I’ll wait.
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Even if the government developed the Don Mills site, it may be required to keep the Moriyama & Teshima buildings and fix the roofs anyway because they're designated heritage (just like the Ontario Place pods they had to keep).
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@6ixbuzztv
TPS needs actual firearms training.
You don’t run around with your muzzle pointed forward, regardless of where your finger is.
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Science Centre used to host more than 1.1 million visitors as recently as 2010.
If renovated and served by two mass transit lines, this number is likely to be more than 1.1M, not 885,000.
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Maybe the highest and best use of the Don Mills site is a mixed-use community.
Maybe it's Science Centre.
Maybe it's both!
The point is: we're supposed to decide on changes like this together, not read about them in the footnotes of press releases.
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"No viable commercial tenants have been identified" for the Ontario Place pods and Cinesphere the government is required to maintain.
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The government itself admits "a lack of investment in visitor experience has resulted in a long term decline in attendance."
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@SabiVM
@LorenPadelford
@aratisharma
@skanwar
Yep in. That’s what I’m testing.
Scenario 1: they take the money and children can continue learning.
Scenario 2: they don’t take it, and we learn definitively that this was never about funding. Then we can all find out what this is really about.
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Shopify is on a tremendous run.
As an early employee who’s since divested, I struggle between happiness and sadness - happy for what friends have achieved, and sad that I’m not participating (personally or financially).
I often wonder if I’m the only one.
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Here is a straight forward, easily implementable five part plan for the Ontario Science Centre. Let’s call it
#FuturePlanOSC
1. The Ontario Government wants to abandon the building because it needs repair/magnitude of the disrepair. The Ontario government should gift the
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10,000 years ago, there were about 3M humans on Earth.
Less than half of Toronto. On Earth.
Not millions of years ago. 10,000.
That’s a lot to think about.
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Capital Gains, Greedy Tech Bros, and Innovation: a thread.
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The government claims the move is good business and will save taxpayers $256.9M over its lifetime.
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The "Remain" business case projects 885,000 annual visitors forever.
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In fact, government renderings of a developed Don Mills site show Buildings B & C remaining!
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@SeanFraserMP
If you’re going to do this, please require the plans to have high levels of insulation and cold climate heat pumps.
This is a unique opportunity.
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Canada is suffering under rent-seeking oligopolies in every sector and you’re picking fights with people who are trying to make new things.
Read the room.
Rich people in Canada losing their minds over paying a little more.
While regular folks are getting fleeced at the grocery store.
Read the damn room.
#cdnpoli
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An unfortunate result, but expected.
If I had to guess what happens next:
✅ Double down on a position not supported by the engineering report.
🔲 Start demolition.
🔲 Receive a Site Plan from a politically connected Development Partner.
🔲 Accept it without due process because
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The Business Case levels some valid criticism at the existing building.
It's huge, and much of it isn't public.
But it was designed to be the epicentre of science education in Ontario, not "a tourist attraction."
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@KingaSurmaMPP
And how exactly did you become an “expert” in building infrastructure studying *checks notes* Public Policy?
Release a business case to be audited by actual experts.
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Canada decided to tax the gains from investing in growth
about the same as
doing nothing and collecting profits from mature companies.
at a time when Canada needs growth more than anything.
Unbelievably shortsighted
@cafreeland
@JustinTrudeau
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US:
- First $10M can be tax-free, per company
- 20% on the rest
Canada:
- First $1M is tax free but probably not
- 33% on the rest
This is knife to a gun fight type stuff.
It's not about the tech bros. It's about building things here.
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We should stop subsidizing natural gas upgrades and immediately start subsidizing:
- electrical service upgrades
- electrical panel upgrades
- heat pumps
- electric and hybrid hot water tanks
- EV chargers
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His story helped kick off The Foreign-Interference Inquiry.
Since then, we've learned:
- "China employs a vast influence network directed at legislators, business executives and diaspora communities in this country."
- "China’s consulate in Toronto had targeted 11 candidates –
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Democracies are only as strong as their checks and balances.
Independent investigative journalism - free of economic and political pressure - are the core of this.
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If we’re serious about decarbonizing, we should be mandating these in new homes:
- 200 amp service (or more)
- smart electrical panels
- EV, heat pump, and hot water tank rough ins
- Stricter air change requirements
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A business’s job is to make things people want, not provide jobs.
The stock price jumped because people saw the company was being competently run, unlike the current government (or Unifor).
Shopify: slashed 20% of its workforce last year or 2,300 workers!
Stock price jumped by 26%
Now these millionaires are preaching to the rest of us about harm to the economy.
Cry me a river!
#cdnpoli
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I made my money in innovation and invest in innovation.
I’ve paid millions and millions in taxes. More than my fair share and more than most.
If they enact a wealth tax, I’m out.
Freeland doesn’t rule out new taxes on wealthy or corporate Canada in upcoming budget
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"People won't leave or stop investing over an extra 8% tax on capital gains."
The previous generation with established roots? Probably not.
The current and future generations? They're already going.
How many
@ycombinator
co's founded by Canadians stay in Canada? 20%?
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Great leadership Sabina.
Going to use my scicomm skills on what I have learnt about the Ontario Science Centre:
1- There is zero transparency, no skateholder or public consultation whatsoever at any point
2- The cost for immediate repairs through summer is miniscule. At minimum should be undertaken
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Venture capital is specifically relevant here because:
1. What countries win and lose is increasingly decided by who owns the most valuable technology.
2. Canada is notorious for squandering generational innovations because there's not enough risk capital to scale them.
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Canada, where distances are measured in hockey stick units.
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Any policy that doesn’t MASSIVELY increase the supply of real homes is political theatre, including:
- rent-to-own
- first time home buyer incentives
- access to credit
- helicopter money
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If Canada is serious about keeping the increased capital gains rate, they must at least:
1. Change the Lifetime Capital Gains Exemption from CCPC to something like "The majority of Common Shares are owned by Canadian citizens."
2. Add a carve out for venture investing.
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@nationalpost
Your job is to report the news, and biggest corruption scandal in Ontario political history gets a footnote?
Shameful.
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With the 2024 Budget, Canada is now saying "don't let your startup get too successful. Not only will you lose your lifetime capital gains exemption, but we're going to take 33% instead of 25%."
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@SabiVM
@craigmillr
@OntScienceCtr
@SaveOSC
The report has two categories:
1. Panel remediation ($522,500 this year)
2. Roof replacement.
Only 1% of panels on all buildings are “critical” and require remediation, and the building is safe until at least end of October regardless.
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.
@morganhousel
is like a low-key younger Charlie Munger who writes, and that’s awesome. He’s been on fire lately.
Some permanent assumptions:
- The world breaks about once a decade.
- Stories are more powerful than statistics.
- More people want to to solve problems than cause harm. But people who cause harm get more attention than people who solve problems.
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The increased capital gains taxes will accidentally but largely kill venture capital in Canada (even more than it already is).
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@SteveSaretsky
I was told by the highest volume brokerage in Oakville that in the past three years, 40% of buyers here were Chinese. They tracked it. It’s not just Van or Markham.
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Mask wearing has really caught on in Toronto. Thanks everyone for being awesome!
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(Measured financially, this is a stupid decision. Measured by freedom to choose how we spend our time, peace of mind, and opportunity, this is a no brainer)
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The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness is the best book about money I’ve ever read.
(I’ve decided
@morganhousel
is the Tom Hanks of investing)
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For those interested, we converted to:
- Two Mitsubishi Zuba heat pumps
- Rheem Proterra Hybrid Heat Pump Hot Water Tank
- AGA induction range
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The technology to go zero carbon is here, it’s just not evenly distributed.
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@scoopercooper
’s writing on fentanyl and money laundering through casinos and real estate is a must read.
Not even halfway through
@scoopercooper
new book and I’m stunned. Some takeaways:
1) it’s worse than I thought (which is saying something)
2) it goes way up the chain politically
3) Great Canadian Gaming is a fking cancer
4) Cooper deserve the Order of Canada
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@awilkinson
Yes.
I hired a student in the fashion program at Ryerson. Fantastic.
A bad stylist will pick clothes.
A good stylist will design seasonal capsule wardrobes, then suggest easy to find pieces to fill it.
Mine gave me four PDFs and a big spreadsheet.
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Let’s start DEMANDING that we BUILD:
- world-class public transit
- schools
- parks
- 3-4 bedroom urban homes of every type (triplexes, townhomes, multiplexes)
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Elect a clown, get a circus.
Ontario's new measures to curb
#COVID19
:
1. Limiting non-essential travel - helpful
2. Prolonging stay at home - helpful
3. Increasing hotspot vaccine - helpful
4. Defining essential work - helpful
5. Support for essential workers - absent
6. Limiting outdoor recreation - huh?
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We’re fortunate enough - both financially and in my wife’s patience - to decarbonize our home. But for most people, decarbonizing won’t happen until 1000 little frictions disappear.
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@Gray_Mackenzie
Doug…
having to stand there with his “yes this is serious” eyebrows…
during a speech about how greed is bad…
and journalism is good…
is Curb Your Enthusiasm levels of parody.
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Quarantine has been a blessing in disguise. Henceforth:
Less:
Meetings, consumption, busyness.
More:
Family, space, quiet, physical activity, independence, slowness.
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@awilkinson
IMHO their entire market cap is attributable to grid view (which requires a third-party extension on Google).
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I’m thankful my family and I live in Canada.
I hope, if nothing else, COVID-19 is a catalyst for all countries to double down on their health and financial safety nets.
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My 2.5 year old son, pointing at the coffee grinder after reading Jack and the Beanstalk: “Daddy, are those magic beans?”
Me: “Yes. Yes they are.”
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I feel like, as an industry, we’re public with our successes (real or not), and bad at talking about our insecurities.
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The ONLY policies that help are:
- relax zoning laws (by federal mandate if necessary. Japan does this and it’s AWESOME)
- public transit to establish, build, and connect new communities near existing economies
- divert resources to home building
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Before looting the people making stuff happen, how about fixing:
- corruption
- productivity
- competition
- monopolies
- rent seeking
- nepotism
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.
@fordnation
’s COVID-19 press conference is surprisingly honest and well communicated.
I’m so confused.
BRB updating mental models.
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My son and I 3D printed a lamp for his desk.
I’m floored by the precision of a $500 consumer printer.
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@awilkinson
If it’s your daily driver, wait for public beta 1 in July.
Signed: a guy who’s made this mistake for 10 years.
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My point is, these things are like an iceberg. There’s 10% people share, and there’s 90% you never don’t see.
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One interpretation of this is that "rich people use capital gains to pay less tax."
Another interpretation is "people can get rich if they start businesses."
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Ontario home builders should be ashamed at the infrastructure they’re sticking into new homes.
Natural gas furnaces and AC?
Should be air source heat pumps.
Hard wired alarms?
Should be
@ring
,
@frontpoint
200 amp service?
Should support EV chargers, solar, heat pumps
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The problem is that, as written, it punitively punishes high growth startups in Canada.
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Honest question:
How can Bitcoin possibly be a store of value when 95% of coins are owned by 2% of wallets?
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Any founders in Vancouver working on a problem in Health or Planet? I’m in town for a week and would love to meet you.
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That's great for small businesses.
In Venture, though, many startups lose their CCPC status because Canada has so few (high quality) venture investors.
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If you’re serious about fixing equality, start with:
1. Capital gains on primary residence
2. Inheritance tax
3. Gift tax
Otherwise this is just performance art.
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My three-year-old son and I were verbally assaulted for wearing masks by dozens of 50 something Facebook Karens marching in an anti-mask parade.
How’s your day going?
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Shopping for a house and can’t find what you want on ?
Check out
@JuwaiLimited
, China’s largest marketplace for overseas real estate.
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@fahdananta
@RoachCap
Congrats! Also, good transparency.
We're:
Deployed: $2.9M
Net IRR: 40%
TVPI: 2x
DPI: 2% (never sell)
We started with $25K cheques, so the early wins are small compared to those that might come, but it's working. We're now writing $125-250K.
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What is the best research on children’s outcomes (knowledge, happiness, well-roundedness, etc) in public vs private schools?
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'The highest form of wealth is the ability to wake up every morning and say, “I can do whatever I want today.”'
"The ability to do what you want, when you want, with who you want, for as long as you want, is priceless. It is the highest dividend money pays."
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A few thoughts from people I look up to, on this topic:
"Trade money for time, not time for money. You’re going to run out of time first."
"Controlling your time is the highest dividend money pays."
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COVID-19 will put
@spartanbio
’s rapid DNA analyzer in every clinic. But once the foundation of fast, accurate, personalized medicine is everywhere, we won’t go back.
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Friends,
I was re-reading
@ProjectDrawdown
and wanted to share the 20% of things we can do to achieve 80% of the results in climate change.
They’re...surprising.
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I have a private Twitter list called ”Mastermind" where I follow some of the brightest minds on Earth and pretend like we're friends and they're teaching me things.
Do you have one? Who's on yours?
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We could:
Spend the 30 best years of our lives slaving to afford a 100 year old home in a traffic-snarled city with bad schools
OR
Live in healthy, modern, affordable homes with the freedom to live and grow.
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The bottom line is that you want the best and brightest to stay in Canada and invent, employ, and build here.
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The Globe and Mail posted this graphic showing how top income earners make their money:
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Note to self: typing with a two year old on your lap leads to typos.
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