Om Malik had a post (hat tip to Mathew Ingram) about a 24-period where he stumbled into a series of high-profile entrepreneurs and VCs, which, I guess, is just another day in Silicon Valley. It certainly seems like a great time to be there given the excitement about Web 2.0 and the return of the launch party (not to mention Michael Arrington's backyard bashes). What I want to know is when is Canada's Web 2.0 party going to start? When can I start writing about super-cool start-ups strutting around with a multi-million dollar VC deals? When do I get to attend parties with an open bar, a great band and a nice "loot bag" when you finally decide to leave? So far, it ain't happening and that's worrisome. In fact, Brightspark partner Mark Skapinker gave a speech recently in which he called the lack of start-ups in Ontario "troubling". If I had to guess, I would say Ontario - and Canada, for that matter - is not having a Web 2.0-like resurgence because we don't have a high enough risk profile. By nature, Canadians are conservative, which means not enough entrepreneurs go for it and there's not enough risk capital - VCs, angel investors, pensions funds, etc. - to encourage new ideas. Of course, there are always exceptions to the rule. Flickr, for example, came out of Vancouver, and Bubbleshare seems to be gettting some buzz. But, for the most part, Canada is missing out on the Web 2.0 phenomena even though we're the second-most penetrated broadband nation in the world behind South Korea. At least, we're still doing some interesting things in telecom where Nortel's financial and accounting woes could encourage refugees to create their own start-ups. Update: To check out the results of the Web 2.0 poll (right column), click here.