The problem is that Canada is basically a european country on the american continent - SV is possible in a place where you can have risk and reward. But also you might lose everything. In Canada, it is hard to become rich - so no worth trying, there is also less risk due to better social security and the base level is pretty decent. Would not be surprised if there are tons of regulations in Canada too (more than in USA).

There is a reason why there are not many startups in Europe - if you can have a decent life, secure job and a nice social security - no worth playing risky games. I would not be surprised if just sheer layoffs in USA led to more startups than in the whole Europe.