At Elevate, the tech industry braces for the storm

Under darkened clouds as a storm threatened, the mood on day two of Toronto’s Elevate technology conference reflected a moment of uncertainty for many in the industry.

Spanning three venues and a so-called block party in the city’s Esplanade area, thousands of executives, entrepreneurs and investors (as well as stars from Venus Williams to Chris Hadfield) flocked to take part in conversations about where Canadian tech goes from here.

Here are the highlights from what The Logic saw and heard on Wednesday: 

Christopher Katsarov Luna for The Logic

No clear skies ahead: Clearco co-founder and CEO Michele Romanow addressed recent cutbacks at the merchant-financing company. “Being an entrepreneur is an extremely hard job, it is largely masochistic, even when the sun is shining,” she said. “When it starts raining, and you go into cloudier economic conditions, this is a very difficult thing … we had anticipated a ton of international growth this year that didn’t make sense to continue doing when the markets turned.” She said companies must adapt and pay attention to products that aren’t working, “even when those adaptations are very, very painful.”

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