Delaware or Bust

Send us Fan MailY Combinator has quietly removed Canada from its list of countries where it invests. Canadian startups now need to incorporate in the U.S., Cayman Islands, or Singapore to join the world's most prestigious accelerator. YC president Garry Tan confirmed the change, saying Canadian founders should "just convert to Delaware C Corp" if they want to raise money. But on the same day, Toronto-based Waabi announced what it claims is the largest funding round in Canadian tech history: $750 million USD, with Uber committing up to another $250 million. Two stories, two different answers to the question of whether you need to leave Canada to build something big.Chapter Markers / Timecodes00:00 – Intro 00:30 – Y Combinator Drops Canada 03:15 – Waabi Raises $750 Million USD 05:45 – OutroReferencesY Combinator:BetaKit, "Y Combinator website no longer lists Canada as a country it invests in," January 26, 2026The Logic, "Y Combinator is no longer investing in Canadian startups," January 26, 2026Garry Tan X posts, January 27, 2026Waabi:BetaKit, "Waabi claims largest-ever Canadian tech fundraise as it hauls in $750-million USD Series C," January 28, 2026The Globe and Mail, December 2025TagsY Combinator, YC, Garry Tan, Canadian startups, Delaware, incorporation, brain drain, Waabi, Raquel Urtasun, autonomous vehicles, robotaxi, Uber, Series C, physical AI, venture capital