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If you pay more while earning less (or attracting less investment money) you are at risk of being outcompeted. I'm not an expert in Canadian economy, however I guess paying the same salary in Ontario costs more vs profits, than in California, or Texas.

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If you are competent at identifying talent and hiring it, paying more in this market is actually a quite "neat hack" to slay any competition that is obsessed with low margins and therefore ends up with, frankly, mediocrity, as a result.

If you think talent isn't worth the price, that's also a valid philosophy! But it's not the same thing as it being hard to attract talent.

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