BC Tech’s Problem Is Not Office Space
A recommendation I hear often about how to improve BC Tech is “more office space.” Sometimes this is “building an innovation hub,” and other times it is “subsidizing office space for tech startups,” but it’s always something about getting tech companies more access to office space. Politicians and the industry agree on its importance. This quest to get more office space for startups is misguided.
Cool offices are nice to have, not need to have. What is necessary to succeed is great people. As I’ve recommended in Smart Young BC, we should focus on attracting and retaining smart, young people in BC. Cool offices are only indirectly important in making this happen.
One of my key reasons for believing office space isn’t important is the fact that Y Combinator, the most successful startup incubator in the world, intentionally never gave startups office space. In an interview, Sam Altman (former CEO of Y Combinator) said it was an intentional choice not to give startups office space because “good ideas are fragile.” Letting founders figure out their own office space and bringing them together for a weekly dinner was enough to succeed. Competing startup incubators would offer office space, but were never as successful. The key ingredient in success was never office space.
On top of this, remote work is here to stay. I, like many others, live in BC but work remotely. I’ve gained access to opportunities that aren’t possible here by working remotely. I still live (and importantly for the government, pay taxes) in BC, but I work at a company based somewhere else. Providing more options and incentives for remote workers like me could have more of an impact than a cool office space.
Smart, young people want to work with great people at great companies more than they want to work in great offices. Remote work works. There are lots of great co-working spaces (with room for more) and coffee shops to work out of. We should focus more of our time (and money) elsewhere. If you’re interested, I’ve made a list of recommendations beyond office space in my original Smart Young BC piece.
Focusing on people, more than office space will help BC Tech succeed.
Addendum: why I think there is so much focus on “more office space:”
They don’t have other ideas. Helping the tech industry to succeed is like trapping lightning in a bottle. It is extremely difficult to know what to do, and I’m not pretending I have all the answers.
Real estate plays a massive role in BC’s economy and that influences every industry. The real estate industry wants more companies to spend more on real estate, and they influence politicians and interest groups to believe the same. This isn’t a bad thing, just something to keep in mind. Incentives matter.
The real problem is how difficult and troublesome they make it to get PR.
I'm a 31 years old tech worker, I make 160k a year, and I live and pay my taxes in BC, even though I work for a US tech company and can work from anywhere.
I pay the government more than 50k a year in taxes. BC should be begging me to stay here.
Instead, I have to go through a year long process, pay thousands of dollars in fees, take english tests, validate my degree, and more.