Growing up in the 90s, I distinctly remember this feeling of awe while discovering the internet for the first time. It was a magical experience with endless possibilities. From discovering new people, to learning new things or simply playing video games. It was a fantastic new world. There is a cohort of people within my age group that shared the same experience. This had a big impact during our formative years. For this group, there was a distinctly pre-internet and post-internet world. This group saw the advent of the Web 2.0 and the rise of social media globally.

This experience has definitely shaped my worldview. The internet, social media & new media specifically, was a force for good. More people sharing and connecting with each other was a net positive to society. My feelings are a little more mixed now. 

The second wave

There is now a second cohort of people that is much larger and more geographically diverse which is native to the internet. For them, there is no pre-internet world, it’s always existed as far as they are concerned. The way they consume information, create content and culture, starts and ends there. They’ve also understood that It’s an incredible learning tool.

The third wave

I believe a third cohort is coming of age now; the next generation of people born after 2005. This cohort is not just native to the internet but also understands that anything online needs to be taken with skepticism and not necessarily believed at first. They understand that the algorithms powering the information firehose are powerful and can’t be trusted entirely. It feels like a dramatic shift from my original worldview where the internet was a place of pure expression and creative freedom. What happened? 

Beautiful and messy 

Many pundits in the media believe that it’s all big techs’ fault. The big tech companies have created negative externalities with device addiction & misinformation, just like pollution is a by product of the oil and gas industry. 

On the other hand, the argument from tech is a free market one.  We’re not going back to a world with three cable channels. Big tech also feels unfairly targeted because traditional media outlets have been some of the biggest economic victims of this sea change. 

The reality is more nuanced. The smashing of gatekeepers and allowing the passion economy to flourish has created amazing opportunities for people to express themselves and to benefit from their work. Yet, the polarization effect of our media consumption seems quite real. It’s a weird sense of dystopia.  

We shape our tools and our tools shape us

The resulting purgatory we’re going through is creating huge contortions in the system. They are playing out in plain sight. It’s almost comical when the Wayback Machine has to issue a warning about misinformation. The recent election issue with the NY Post about Hunter Biden is also revealing. Many politicians blamed Twitter for blocking the story. Yet, the story was debunked as being bogus. So who’s really to blame here?

The advent of tools like GPT-3 will massively exacerbate the challenge. This language model generates news articles which human evaluators have difficulty distinguishing from articles written by humans. Just to give you a sense on the order of magnitude. This last version takes into account 175 billion parameters versus 17 billion for the previous version (GPT-2). You can guess how big the next one will be. Free and easy to use tools will continue to flood the market rendering misinformation cheap & easy. Reliable information will be concealed behind paywalls as a band-aid measure. 

One thing is for sure, the gatekeepers of yesteryear are fading in relevance. This new cohort will not trust anything that is online. This part sucks because the key to a strong society (imho) is having shared values and beliefs. It’s difficult to see people coming more closely together when the way we perceive the world can be radically different, even if we live across from each other. 

So how do you build trust when our information systems are decentralized and coordination is impossible?  We’ve opened Pandora’s box and the only way forward is going to necessarily be with more technology, not less. 

Our sense making systems

We can trace back several eras of how we communicated and learned from each other. From the printing press to radio to television. These epochs were relatively static marked by periods of upheaval. As we’re transitioning away from the last epoch, the internet is still in its infancy and I believe that the past “stability” will not return. The fragmentation will only continue with media resembling more of a barbell. There will be a few big winners that benefit from network effects; a few large traditional publishers that make the shift (think NY Times) and popular independent outlets with small teams but huge followings (think Joe Rogan podcast). The rest will be niche players with small but profitable followings. The lines between the two will continuously be blurred. Ultimately, how we make sense of the world, create culture and have social status is undergoing a massive transformation.

It seems like there are no easy solutions and it’s tough to see the dawn. At the same time, there is an incredible amount of innovation happening right now, largely thanks to the removal of barriers and reduction of friction. This third cohort of people are tinkering with these new tools and experimenting. I marvel at all the human ingenuity that is enabling these new models to emerge. Sure, it’s messy but it’s also beautiful to watch. I almost feel like a teenager again thinking about the possibilities.

At my job, we work with management teams and help them sort through tough strategic challenges. We are often confronted with the question of whether something is strategic or if it is operational in nature. It is a very common question 

and not an easy one to answer. I’ve seen many teams wrestle with this. It’s never cut & dry but there are some ways to navigate it. 

I’ve learned a few things in the past few years and want to share some thoughts. Ultimately, there is no black or white answer to this question. It comes down to the old saying, I know it when I see it. 

Why does this matter?

This is an important question because working on strategy is always important yet rarely urgent. Leadership teams often don’t prioritize working on issues of strategic importance. This is particularly true in small to medium size organizations. Working on executing your strategy should be a big deal. If you don’t, you’re going to be stuck doing the same thing over and over again. Working on your strategy also means working towards taking your company to the next level – whatever that level is. 

Let’s dive in. 

Start with a north star  

Some pretty basic advice, know where you’re going, clarify the penultimate goal of your company. This should not change ever. If you do not need to change it, it’s because you’re undergoing a radical transformation (think Netflix going from DVDs to streaming). If the vision is clear, it’s usually easier to work backwards from there.  

Understand your core strategy

Your strategy isn’t something that changes often. This is about the fundamental nature of what the company does and what makes it work. There are many ways to illustrate what your company’s strategy is. A cool way to visualize your core strategy is with a flywheel. Most people are familiar with the Amazon flywheel. As another example, I love Sonder’s flywheel. It doesn’t matter enormously what tool you use to explain your strategy. What does matter is being able to explain it simply; we do X as a result we obtain Y. 

Map out the next few years

Most organizations can’t have too many strategic objectives, usually three to five pillars that a company is working on. These should reinforce the core strategy and are “bets”. Bets in the sense that success is not assured. 

A business case that exemplifies this is the Amazon Fire Phone. Let’s start with Amazon’s flywheel which is very focused on customer experience. They launched the ill fated smartphone project as a way to get closer to the customer. They believed that would be able to bring more value to the customer by allowing them to scan & shop for products. Ergo, more selection equals better customer experience. 

They took a $173 million write down and probably spent more on R&D. So let’s assume a total cost of $400 million. At the time, this represented 0.27% of their market cap. It wasn’t a “bet the company” initiative but rather a bet that might yield a 10 or 100X upside. This failure forced them to go back to the drawing board and find other ways to get closer to the customer. They innovated with the Amazon Echo and the rest is history.

Working on anything strategic is usually about reinforcing the strategic objectives or pillars. This work tends to have a 1) relative degree of uncertainty, 2) something that is not being done today in a repeatable fashion. 

Clarifying what is important versus urgent

Working on operational priorities is far from being unimportant. It’s about running the existing business and running it well. Oftentimes, operational tasks can become strategic if something is broken and needs to be fixed immediately. Nothing else matters if customers can’t get what they want. Operational excellence matters more in certain industries that have tight margins for instance. If you are a software company and you don’t innovate & ship your product, you’re in troubled water.

For a leadership group, it’s important to clarify what’s important today and what will be important in a few years’ time. Working on your strategy is about elevating your company. 

A small but important caveat, not every company needs to transform itself. For example, longtime Disney CEO Bob Iger took the role of executive chairman and let previous head of parks and resorts, Bob Chapek step in as CEO. One of the assumptions behind this move is that Disney’s strategy is set and is on the right path. Instead of a visionary CEO, a more operational focused one is needed.

This is the biggest question a CEO and board should be asking, should we be focusing on our strategy or on our operations. The answer, you can say, is strategic. 

Being on a mountain is my happy place. Particularly when I’m on my mountain bike, sweating, suffering and having fun. There is a certain purity in the experience that is hard to beat. This sentiment is shared in all outdoor sport cultures. Whether you like hiking, climbing, riding or skiing, the experience of achievement and enjoyment is hard to beat. Suffering is also part of the journey. This isn’t about being sadistic, it’s about earning your reward. To go down a fast trail, you must climb and sweat first. To see an amazing view of a mountain range, you have to climb a dangerous pitch. 

These past few years have seen the advent of increasingly accessible e-bikes on bike trails. As you’ve likely surmised from the title of the article, I am not a fan.

I’m not entirely opposed. There are  certain specific circumstances where it makes sense. If you reach a certain age where you are physically incapable of riding like you used to, I kinda get it! I’d like to take advantage of that opportunity too when father time takes its toll. For young kids too, it can be fun to climb to the top with the adults. It has broadened the sport and brought in more people – but that it is not the reason why I don’t like them. 

E-bike technology doesn’t suck

Don’t get me wrong, e-bikes are impressive machines. Electric bikes are fitted with a battery-powered motor that gives a bit of an extra boost while you ride. Some bikes use a throttle, while others are powered through the pedals. But these bikes are not fully motorized as a moped or dirt bike is. They add an additional 250 to 500 watts which is incredible and can really help someone climb a mountain. 

Altering the human experience

E-bikes have invaded mountain biking trails and have broadened the range of people that can practice the sport. This isn’t necessarily a bad thing per se. It’s just that most people don’t understand biking culture, frustrating purists like me. 

Deep down this is about altering the human experience, we’re not accustomed to all the ways technology will augment & modify our work and leisure experiences. Certain cultural aspects of our lives will be changed, and some people (like me) are going to need to get used to it.

This is really only just the beginning of technology altering the human experience. I suspect we’ll start seeing augmented humans on more mountains, rivers and all kinds of physical activities. Heck, eventually our cognitive abilities will also be augmented eventually – right now, it still  just does not feel right. I’m not sure if I’m just an old man that’s longing for how things used to be or if there are real moral issues to be explored here. I suspect a bit of both. 

In the near future, we’re going to see many fundamental areas of disagreement across all walks of life. It will precisely because of moral quandaries rather than logical or rational ones. My dislike of e-bikes is not really rational, I know that. Yet, hell if you can convince me otherwise. 

Just think of all the advances in biotechnology that are coming to a theater near you. 

Who wouldn’t want to have their unborn children protected against disease? The next logical step after is altering more than what is morally acceptable today. What happens when you can add 20 years to the life expectancy of everyone on the planet for instance? 

Until then, I will keep riding my bike and having fun with my friends on the mountains. And everytime I see an e-bike, I’ll keep thinking how much they suck. 

Media was arguably the first industry to feel the impact wrought by the internet. The entire business model was disrupted when distribution became free. The cost to distribute & replicate content went down to zero. At the same time, much more effective advertising channels rose. This dual whammy is something that most traditional publishers never fully recovered from. The saving grace came in the form of changing their business model around five years ago. The race was on to shift towards subscription models. Big legacy players like the NYT, WaPO and regional players like LeDevoir adapted their business model. This isn’t the end of the story though. 

What’s interesting about this industry is that is not settled into a “new normal” but rather the sands are still shifting. The collapse of the old model has not created a stable situation but rather innovation & creative business models are flourishing. For instance, digital upstarts are rising and falling. It seemed a few years ago that digital native publishers like Vice, Buzzfeed and others would dethrone the old establishment. Yet, this hasn’t been the case. Online advertising is one hell of a tough business especially when you have to compete with the current duopoly. Instead of competing for ad dollars, new peer to peer models are now becoming the new norm. 

Let a thousand flowers bloom

The current trend is one of decentralization. Why follow a large media “brand” when you can follow (and pay) the journalist/writer that you like directly. The rise of platforms like Substack and Twitch are enabling creators to reach their audience directly. Substack in particular has seen massive growth. There have been a few big names that made the jump recently. Tech journalist Casey Newton left The Verge to join Substack which sent shockwaves in the industry a few weeks ago. Locally, a great journalist Christopher Curtis left PostMedia to join a niche subscription platform. 

Just as it seemed that the way forward for publishers was focusing on subscription, this isn’t entirely clear anymore. Journalists with strong followings can decide to write for their audience directly and be independent. The tools and monetization capabilities are now fully at scale. 

The power of the internet is enabling the creation of long tail niches. Platforms like Substack are enabling experimentation on a huge scale. Not every writer will prosper as a result though. The ability to experiment and fail rapidly is what makes this type of platform so powerful. The cost of trying is zero. With many more attempts being made, there will be many more journalists that find a way to make a living. Journalists with strong followings will be the most tempted to make the shift and this is a huge threat to the legacy media business. 

Don’t miss the boat

There’s an expression in French that I love, “manquer le bateau”. It means missing the boat. Well, the next boat is here. Independent writers & creators that have a direct connection with their audience.  There are still many traditional media players that are focused on advertising and are slowly moving towards subscription but is it already too late?

Perhaps established journalists with brand names won’t leave en masse to start their own individual publications. They might miss the influence & cultural relevance of reaching a wider audience via a brand name publication. This still doesn’t change the strategic imperative for publishers, they need to empower their creators. 

They need to provide more support, tools and monetization capabilities for their journalists. Otherwise, they might miss the boat again.

I love stand-up comedy. It’s amazing to see an artist that masters their art on stage. People laugh because a joke is funny. It’s the purest expression of real time feedback. You’re either funny or you’re not. I can’t imagine the feeling of bombing and an audience not laughing.

For a comedian to be funny, they need to push against the line of what is expected. Oftentimes, that line brushes up against what is socially acceptable. The challenge with this line is that it’s always changing. What was acceptable five years ago can be deemed inappropriate today. For instance, my favorite movie of all time is Pulp Fiction. There is gratuitous use of racial profanity that back in the 90s didn’t cause too much trouble. Watching some of those scenes again today is cringe worthy. 

Coming up with insights

The parallel I’m trying to make is just in an artistic endeavour that breaks through the line, an insight is needed. A comedian uncovers a funny joke by going right up against what is seen as normal & acceptable. 

An early stage company doesn’t break through easily by coloring inside the lines. It has to go right up against what is known and what works today. My analogy still needs some work but it’s the image that I’m trying to convey. 

In both cases, an insight is needed as to where the line is and also where it is moving. A company doesn’t easily succeed by copying what’s been done in the past. It has to innovate. Sure, it can copy but a breakthrough success needs to go right up against the line. 

Pushing against the line

Just like in comedy, this is where knowing where the line is can also backfire. Saying a joke that was acceptable a few years ago will most likely backfire today. For a startup that hasn’t achieved product-market fit, going over the line most likely means that the idea won’t work. Perhaps it’s time hasn’t come yet. 

This can be a useful guide for companies that need to innovate. It means they can’t stay stuck with what is always expected. They need to continuously push against the line and improve.  

The line is of course always changing and that’s the hard part. The job of a leader (or artist) is to scan the environment and know not just where the line is, but how to go up right against it. 

I love that feeling that when you discover a new local product. Be it a restaurant, vineyard, farmer, café or retailer, I really enjoy discovering & shopping local. On top of that, it feels good! You’re supporting a local merchant or producer and not one of the big faceless corporations. This topic has taken on new meaning during the pandemic with governments rushing to create buy local initiatives. I’ve been thinking of what it means for the local tech sector and how it can be better supported, not just by the government but by the entire community. It raises a few questions.

Should we stop using their products? This one sounds crazy to me. Better products win especially when distribution costs so little in software. It’s not just the mass consumer tools like search and social. Think of all the productivity tools that startups/techcos use that come from abroad. We can’t force people to use other platforms or attempt to change the rules of the game to benefit local players. Just look at the mess in Australia as an indication of what not to do.

Should people avoid working for foreign tech companies and work for local ones instead? Haha, what a hypocrite I would be if I advocated for this approach. Going to work for a big tech company has an important benefit to the local economy. Local tech can benefit from people that leave big tech. It’s not just tech companies but many other traditional companies can learn something from foreign tech; alas, that is a subject for another day. This is unequivocally a good thing as long as the playing field is fair. Big tech should not receive special subsidies to open offices or grants on talent.

Is there an ultimate solution? The answer should be obvious by now, we need to compete. Competing to build a stronger and more vibrant ecosystem has been the life’s work of many people in the city. This is an ongoing endeavour and one that has picked up a lot of momentum. One of the great projects in the city is FounderFuel that has their demo day this week. My only gripe with them is that it needs to be even bigger!

What we need are more shots on goal. We need more companies being formed all the time trying to solve real problems. Of course this process is messy and many startups fail. But building a flywheel of companies / founders / investors takes time. Successful entrepreneurs go on to start new companies or invest in new ones. Their investors back them the next time and the cycle continues. Over time, the quality bar gets higher and the companies formed compete on a bigger scale.

So attend demo day, work or invest in a startup (if you can), go work at a big tech company for a few years and always support the community. Helping local isn’t just about feeling good, it’s about getting better.

For the past four years, I’ve been hosting  a super niche podcast about business strategy at the intersection of technology. The guests are mostly local CEOs and investors where we talk about their careers, their organizations and their thoughts on the industry. It started as a way to promote what we’re doing at my company and has become a marvelous learning experience along the way. I want to share some thoughts on what I’ve learned so far.

Analytics and distribution

First, to start with the numbers. I’ve had 137 incredible guests. The show has almost 25K downloads which ranks in the bottom quartile of podcasts. The episodes are also uploaded on YouTube (audio only). YouTube has garnered 5K views and 500 hours of watch time. It’s syndicated via Libsyn which distributes it across all platforms. The service is pretty neat and easy to use but my biggest gripe is in regards to the quality of the data. I’m still amazed at just how poor the analytics in the podcast space are. You get a number of downloads which doesn’t provide much insight if people are listening, where they are dropping off, etc. The main reason is that Apple doesn’t share much of the data mainly because they don’t care. It’s just too small a space for the company to invest in. Though it has improved recently, there’s still a huge opportunity for more robust metrics. 

Something I’ve really neglected is distribution. My main strategy has been to share on social media when an episode comes out and ask for guests to do the same. I have not spent enough time trying to figure out or experiment with other distribution channels. Deep down, I dislike self-promotion and find it icky.

I know this is likely misguided and will look to get better at spreading the word.

Evaluating performance

The objective for the podcast was never to generate new customers. I didn’t believe it was going to be a lead gen driver for consulting mandates. It was always about creating awareness by a) having great content, b) exposing super smart people in our network which in turn spreads the word. That being said, we have obtained a few customers as a result but it is not a repeatable revenue pipeline. It has raised the profile of our firm and helped us punch above our weight despite being a small shop. For myself professionally, it’s been a great learning tool. The recipe is quite simple. Get smart people on the show, be curious, ask good questions and get out of the way. 

The biggest area of improvement is diversity with my guests. I have a horrible track record on this. Only 21% of the guests have been female. Though it’s been more even lately, it’s still pretty bad. I’ve made it a focus to come back to a more even split. The main reason is that my network is mostly male (which isn’t an excuse). What has helped is asking female guests for recommendations and they made great referrals. 

Some overarching principles

Asking good questions is such an underrated skill. It has served me way beyond podcast interviews. It takes time to build this reflex. Instead of asking the obvious question, I try to dig deeper to get a better sense of what the person was thinking when they made a particular personal or professional decision. I’ve learned *so much* by talking to people and just asking questions.

Even busy people want to give back. I’m always surprised when a guest accepts to be on the show. No one has ever asked for the reach or what’s in it for them. They just want to give back and share what they’ve learned along the way. If you have something to ask from someone that is in a more senior position than you, always consider how it makes them feel. Giving back is a good feeling!

Meeting people in person makes for a better discussion. Obviously, this is harder during the global plague we’re all living through. My preference is to talk to people in person. There’s something about the conversation in the same room. Most people (including myself) are more rigid at first but after 15-20 minutes, people start to feel more comfortable and open up. This is where the most interesting insights occur. 

Sucking at first is ok. I don’t want to listen to my first interviews. I wasn’t that good and my technical set up wasn’t at par. But I still put it out there. The important thing is to improve and get better. 

What’s next

It’s been a fun experience and I’m not planning on stopping. I want to follow my own advice and keep improving. I’m planning on more deep dives on specific topics and interview series. Next month, I’ll be talking to up and coming leaders that are still early in their career. I want to get off the beaten path for a bit and give some space for different view points. 

As always, thanks for listening!

p.s. If you happen to know any potential female guests, please let me know.

Is it said that the key to staying young is lifelong learning. If that is the case, then the internet is undeniably the fountain of youth. I distinctly remember the first time I used the internet as a young teenager and feeling this sense of awe. That feeling has worn off throughout the years but it still amazes me.  As the technology has matured, this ability to learn whatever you want (for free) has been taken a little for granted.  Anyone can now learn anything they want. Wanna start a company, learn a new language or develop a new skill? There are more articles, videos & resources that you can ever consume. 

Of course this comes with awful things, like spreading misinformation, terrorist recruitment and hate speech. But ultimately, these are not caused by the technology, they are simply enhanced by it. These traits exist already in human nature. I look at the positive side of human nature which has this uncanny ability to continuously learn and evolve. This newfound learning capability to raise everyone’s skill level is a profound game changer. 

The decentralization of everything

This free flow of information implies that every part of the economy is slowly being decentralized. The resources required to start new businesses or projects are essentially gone to zero. Chris Anderson saw this trend and discussed it in his 2009 book Free. Software is essentially encoded human language and its main attribute is its ability to be replicated at zero marginal cost. This implies that that software is radically reducing the cost of everything around us while connecting different parts of the world together (hello APIs!). The impact on the business world is essentially the story of the past 20 years. What does not get enough attention is how the fundamental nature of learning has changed. 

Accelerating your career

When I meet someone earlier in their career today, let’s say early twenties, I’m often astonished at how stunningly smart and well informed they are. It’s not that people are somehow more intelligent. Rather, it’s access to relevant and timely information that gives people an edge. For the *motivated* twenty something (or sixty something!), there are no limits as what skill or subject can be learned. The technology, platforms and content are now completely at scale.  This is by far one of the most exciting opportunities for education and skill development more broadly. It literally costs nothing. The only limiting factors are time & motivation. 

Controlling the firehose

With the world’s best teachers and content, comes with a dilemma. How can someone learn and not be completely overwhelmed? There are many exciting and developing areas in this space. Two interesting startups come to mind, Notion and Roam research. I’ve been using Roam for a few months and it’s a fantastic tool to capture notes and ideas. There are going to be many more companies and opportunities to emerge.

The nature of education and dare I say universities will change permanently. The geographic and time boundaries don’t make sense in a world without these constraints. Not to mention the quality & timeliness of the content. Everyone should start using tools (or develop their own) to get better at learning and curating information. There is no one size fits all.

I’m part of the last cohort of people that distinctly remember life before and after the internet. That feeling of amazement is still with me and I now realize that I’ve underestimated its potential. How we learn and evolve will dramatically improve in the coming decades. We’re still in the first grade. 

The one thing I’ve benefited the most from in my career is to start stuff. It’s easy to say that when you’re in a startup – it’s literally in the name. I believe this is just as important when you’re an employee in a bigger company. By starting something in a company, you’re taking initiative that likely other people aren’t taking but also learning a ton along the way. It can also serve as a great on ramp for someone to eventually start their own business.

In recent years, there’s been some fetishizing of startups. This isn’t a bad per se, more people starting companies is obviously a great thing. My one gripe with the startup mantra is that many people don’t see themselves as entrepreneurs and are not ready to take the risk. It can create a sense of anxiety, a fear of missing out in your career – at last this had been the case for me. What helped me was to start stuff as an employee and realize that the “risk” wasn’t really a risk at all. It helped overcome my fear and lack of confidence. 

Inside of a company, taking one new initiative can be an amazing way to learn and develop new skills. It will also serve as a springboard for people that aren’t ready to venture out onto their own. The best way to do this is to take on more responsibilities. Do more stuff well and people will likely give you more stuff to do. 

What’s neat about this approach is that it doesn’t need to be some bold project. Something starting stuff can be small initiatives that can lead to something bigger. It will also shake off the “employee mindset”; something that I had to wrestle with for a long time. The start stuff mindset always helped me even when I didn’t realize that’s what I was doing. 

Finally, just want to say hats off to the good folks at Startupfest Montreal that put together a great event this week despite a few challenges to say the least.

A few weeks ago, I asked a few friends if they were interested in writing an opinion letter together. The idea I had was to combine the ideas different backgrounds and industries on what we can do to improve our society as a result of this crisis (I’m glad they accepted!). We wrote some ideas on how Quebec can take advantage of the crisis that we’re going through and the importance of taking action.

Think local, act global

Since the 1970s, the ideology “Think global, act local” has guided world leaders, lulled by the thought that the prospect of a global market should also be anchored in local roots. However, in recent months, major social changes have occurred. On the one hand, we note a growing awareness of environmental issues (as evidenced by all the protests around the world) and an examination of the adherence to the principles of globalization. On the other hand, a virus, as unknown as unexpected profoundly transforms the social fabric and redefines the relationship of humans with their environment.

“Think global, act local” is no more.

Surely, globalization will remain a post-COVID-19 reality and the foundations of global economic principles will remain, for the most part, valid. Of course, no one is against this virtue and everyone prefers (at least conceptually) to favor their local ecosystem rather than a globalized and depersonalized economic structure.

The changes we are going through are profound. We are moving towards an era of Thinking locally and acting globally. It’s a way to build on our local strengths and customs in order to have a global impact.

It can also make a big difference for businesses here. For the past few weeks, we have been experiencing an evolution in attitudes and consumer awareness of the importance of the local economy – both to help each other and to combat the harmful effects of globalization. We must remain realistic, Quebec remains a territory of 8.5 million inhabitants. It would be unthinkable to imagine any form of economic and commercial isolation. However, it is clear that consumers’ ability to vote with their wallets could lay the foundations for a new local economy.

From a more structural point of view, thinking local, acting globally is a leitmotif rooted in a form of disruption. The latter requires a certain distance, a rebellious state of mind based on cultural differences; which is Quebec’s DNA.

Quebec is exceptionally well positioned to change the game and carve out a place for itself on the new world stage, both thanks to its culture and its unique talent pool. In the early 1980s, Quebec experienced a perfect storm of reinventions, which propelled several companies onto the world stage. Forty years later, it is in chaos that Quebec businesses can find opportunities to think differently.

Today, on this national holiday, we want to launch an appeal. Do we want to combine our know-how and our different ways of thinking in order to take advantage of the crisis we are going through? Do we have the ambition to seize this opportunity to see the birth in Quebec of new business opportunities to enrich ourselves collectively as a society?

To make this crisis an opportunity, we must find perfect synchronicity between businesses, consumers and governments.

1) Accelerate the digitization of businesses and the economy.

The current crisis is rightly perceived as the greatest catalyst that Quebec has ever known in terms of digital transformation or transformation of business models. To be competitive, the adoption of technologies should be at the heart of an economy that takes shape differently.

Adopt an agile strategy.

Given the increased speed of technological innovations, it is imperative to stop talking about digital transformation. Each organization must adapt to technologies constantly. To do this, the key principle of organizational success is to evolve quickly and adapt to the market. An agile strategy is therefore necessary.

The online shopping cart starts with each business.

We believe that businesses here can afford to compete against foreign giants. To achieve this, we must rely on elevating the customer experience and the uniqueness of our products. We need to bring out our strengths in order to stand out. Local merchants who master fast & easy online ordering, eco-friendly shipping have a better chance of satisfying their customers, who will remain loyal. Innovative business models like subscription will help merchants to create a local consumer habit.

Double down on startups and the entrepreneurial ecosystem.

No one can predict where the next successful business will come from. We know that the Quebec ecosystem of startups is performing at a high level. Several examples of global success have started right here in Quebec. So we have to bet on entrepreneurs and promote risk taking. It is crucial to help entrepreneurs to get started, to bounce back from their failures and to develop their businesses beyond our borders.

Nowadays, the digital acceleration of our businesses and our civil society is no longer a complex necessary evil to undertake. Indeed, we must seize the opportunity to reinvent ourselves in a world less focused on capitalism and more oriented on ethics, transparency and respect for the benefit of growth and sustainable development, and this, for the good of all.

2) Renew the relationship with consumers.

To make the crisis that we are going through an opportunity, the relationship that companies have with consumers must be transformed. 

Listen to understand, not to respond.

As brands or organizations, are we really consumer-centric? Or are we just trying to convince ourselves? There is nothing new about putting the voice of the consumer at the heart of the decision-making process, but few companies are fundamentally attuned to their market. From a “think local” perspective, the ability of organizations to understand their markets is complex. We need to learn to listen more often, to share faster and thus develop the ability to quickly disseminate consumers’ perceptions and attitudes within the organization.

Act rather than speak.

The COVID-19 crisis is not just a health crisis. It is also a fundamental questioning of values, at an economic, environmental and social level. In the past few weeks, several brands have been severely punished by consumers due to the mismatch between their actions and consumer values. More than ever, it is essential for businesses here to focus on speaking out and showing their customers that their choices are aligned with their own values.

The courage to think bigger.

If there is one trait that distinguishes Quebecers from the rest of North America, it may be their humility or modest ambitions. However, we have the talent, the access to capital and the vision to make a positive impact on many more consumers than we can imagine. We have the means to become a force both on the local market and internationally. There are no more excuses for having much greater vision.

3) Government support.

In the wake of these profound changes that we are observing, governments also have a role to play in supporting businesses and consumers and helping to redefine society after the pandemic.

A long-term perspective.

The current crisis has exposed the weaknesses of short-term, partisan political decisions. To rebuild lasting trust in our public institutions, we believe it is essential to embed the major collective priorities (climate emergency, energy efficiency projects, investments in public health, relocation to Quebec of the production of essential goods and services, investments in sustainable public transport infrastructure, etc.) in a legal framework with clear objectives and  monitoring mechanisms that transcend electoral cycles.

Reform the economic model.

The pandemic has also exacerbated the vulnerability affecting several sectors of the economy, notably the cultural and event industries, catering and bars. Why not approach the creation of the wage subsidy program as a first step towards a broader reflection aimed at overhauling our individual and corporate taxation and our mechanisms for redistributing wealth and reduction of inequalities? Without necessarily arguing for a universal guaranteed minimum income program, it is clear that many current tax measures could be combined and simplified.

Governments will have to be pioneers.

When it comes to public policies that promote diversity, inclusion, social solidarity and innovation, governments must lead the way. Incentive policies for employment and training, representation in decision-making bodies, structuring support for the creative and innovative industries and the social economy are just a few examples of possible areas of intervention for our public bodies.

The time to act is now.

Our collective choices define the next generations. The unique opportunity of this crisis is to rethink our past choices and not to adhere to past conventions. It is up to us to rely on our expertise and our unique positioning to rethink the dynamics of capitalism and use the current crossroads to propel us into a more prosperous, equitable, sustainable and inclusive world. In order to become the Quebec for which we aspire, the time for action is now. 

Signatories: 

Florent Bayle-Labouré, Co-Founder and Partner, Habo Studio

Nectarios Economakis, Co-Founder and Partner, PNR

Stéphane Ricoul, Marketing Director, Talsom

Sophie Tremblay, lawyer at NOVAlex