Special Report
The Logic’s biggest and best stories of 2024
From failing EV battery dreams to succession tsunamis, melting ski resorts and sex robot pivots, here are some of our favourite stories from the past year
Photo: The Logic
Photo: The Logic
It’s been a busy year. Here at The Logic, we’ve published almost 600 stories (and counting) and have sent our unmissable email briefing to subscriber inboxes well over 250 times. Oh, and we put on a great annual summit. Phew.
Looking back, we’ve had exclusives aplenty, major investigations into the people and companies changing Canada for better or worse, and a number of stories that show the true impacts of technology and innovation on society.
We can’t wait to show you what we’ve got planned for 2025. Before then, sit back, grab your favourite beverage and catch up on some of our biggest and best stories from 2024.
Li-Cycle’s struggles threaten North America’s EV dreams
By Anita Balakrishnan and Catherine McIntyre
Toronto battery recycling startup Li-Cycle was a darling of the EV industry, charming investors and politicians with its promise for a greener, more ethical battery supply chain. But the scale and cost of its ambitions have created major issues. We headed down to Rochester, N.Y., home of Li-Cycle’s still-unfinished factory, to find out what’s gone wrong.
Out of thin air
By Martin Patriquin
Entrepreneur Fred Lalonde sees himself as a climate saviour. Deep Sky, his Quebec-based direct carbon-capture startup, is worth millions. But some of his bold claims don’t align with the facts. His defenders remain unfazed, arguing the mission requires the ability to think big and sell ideas.
The strange, sad story of Ubisoft’s Sad Room
By Brendan Sinclair
Montreal’s gaming industry is world famous—and Ubisoft Montreal is the jewel in its crown. Or at least it was. In November, Brendan Sinclair spoke to Ubisoft insiders about the company’s struggles to retain talent—and uncovered the strange secrets of the Sad Room.
A succession tsunami is about to hit Canada hard
By Catherine McIntyre
Most of Canada’s small- and medium-sized business owners plan to retire in the next decade. The vast majority of them don’t have a succession plan. The succession tsunami could be a chance for new owners to invest in legacy businesses and boost their productivity—or it could be chaos.
The Logic tries to get into trouble with a ‘consumer hacking device’
By David Reevely
The Flipper Zero has a reputation as something of a menace—but how much trouble can you actually get into with this viral hacking device? In April, David Reevely took to the streets of Ottawa, and Parliament Hill, to find out.
Tenstorrent quietly relocates to the U.S. as AI chip race heats up
By Murad Hemmadi
In November, we revealed that Tenstorrent, one of Canada’s leading hardware startups, had quietly redomiciled to the United States and moved its headquarters from Toronto to California. Canada’s ability to grow and retain leading tech companies remains a major issue, especially as the country tries to secure domestic AI compute capacity and develop its semiconductor sector.
Does Canada discriminate against public companies?
By Kevin Carmichael
Canadian politicians seemingly have a soft spot for smaller companies. In March, Kevin Carmichael spoke to TMX CEO John McKenzie to find out why it’s time the government showed publicly traded firms some love, too.
Mild winters are melting the rental property market in Canada’s ski towns
By Aimée Look
Climate change poses an “existential threat” to snow sports worldwide, according to the International Ski and Snowboard Federation. In October, Aimée Look reported on how the impact of lacklustre snowfall is now spilling over into real estate in and around major resorts. The future looks bleak. “Under a high emission future, we won’t recognize the ski industry in Southern Ontario,” said Daniel Scott, a professor at the University of Waterloo.
Realbotix aims to shed X-rated past with crypto-funded pivot to AI and robots
By Claire Brownell
Tokens.com’s shift from crypto to sex dolls was one of the stranger changes in corporate strategy this year. In July, Claire Brownell reported on how the firm, now under the name Realbotix, was going all-in on a whole new business model: humanoid robots that can provide companionship and form relationships.
Brookfield in talks with Canadian pensions to create new $50B fund for domestic assets
By Catherine McIntyre
We love exclusives, and this was a big one. In September, Catherine McIntyre reported that Toronto-based investment giant Brookfield was working to raise a new $50-billion fund and was seeking backing from major pension funds and the federal government. A week later, Catherine and David Reevely had another exclusive on the focus of the so-called Maple Fund.
Neo Financial’s valuation plunges with new $362M fundraising round, documents reveal
By Jesse Snyder
Another month, another exclusive. In November, Jesse Snyder reported that fintech Neo Financial had raised $362 million—but at a cut-price valuation. The majority of the shares the company issued were sold to a single, mysterious buyer based in China which was later revealed to be tech giant Tencent.
Loblaw’s digital czar has big plans for all that data
By Aleksandra Sagan
Since its start in 2012 as a team of about a half dozen, Loblaw Digital has grown to 700 staffers who are responsible for creating and running all of the grocer’s digital products. In an office in Toronto, that team now busies itself experimenting with the grocery giant’s trove of data to try and lure in more shoppers and encourage them to spend more money.
For Western EV buyers, ‘Made in China’ could become a mark of quality
By Anita Balakrishnan
Many North Americans have bought into the idea that China’s manufacturing power is driven by outsourcing, cheaply producing—or knocking off—North American designs. In May, Anita Balakrishnan reported that many people who have driven China-made EVs or visited Chinese factories note that the country’s auto industry is different from other technology we import.
A strange, bitcoin-powered community is taking shape in rural Quebec
By Martin Patriquin
This story has it all. COVID-19 conspiracies! Cheesy music! (Twin) crypto bros! Tim Draper! And, weirdly, a crypto-powered community taking shape in Quebec. Complete with an actual house, with people living in it, that’s heated by bitcoin mining rigs. Welcome to Liberty City.
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