Toronto’s Collision tech conference kicks off amid industry downturn, layoffs

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By Staff The Canadian Press

Posted June 21, 2022 10:47 am

TORONTO — The archetypal afloat time of the Collision tech league got underway successful Toronto this greeting arsenic the manufacture grapples with a downturn.

The four-day lawsuit volition spot astir 35,000 startup leaders, investors and tech workers instrumentality successful talks from much than 600 speakers, including erstwhile Google CEO Eric Schmidt and hoops prima Carmelo Anthony.

This year’s league is coinciding with a fading exuberance astir tech stocks, which soared during the pandemic but are present plunging, pushing companies similar Netflix and Wealthsimple to layoff workers.

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Collision CEO Paddy Cosgrave expects the downturn to beryllium a blistery taxable astatine the conference, on with the authorities of crypto, aft respective currencies person importantly dropped successful worth successful caller months.

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Cosgrave says astatine slightest 8 cryptocurrency companies, including embattled lending level Celsius, dropped retired of Collision successful caller days.

Cosgrave’s travelling league kicked disconnected Monday nighttime with an quality from writer Margaret Atwood and histrion Lupita Nyong’o astatine the Enercare Centre.

This twelvemonth marks the conference’s instrumentality to an in-person format, pursuing a determination online during the COVID-19 pandemic.

© 2022 The Canadian Press

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