Balsillie, is the head of BlackBerry maker Research In Motion, one of Canada's most valuable public companies, with a market capitalization of $75 billion.
His comments came Thursday as part of a free-ranging speech that touched on issues that included media and technology convergence, his interest in hockey, and what it's like to be the head of RIM.
About his unsuccessful attempts to acquire an NHL hockey team, Balsillie said he still likes the idea of there being another Canadian team.
But, he says, the move had to be "coherent" and done for the right reasons.
"There's nothing personal in any of this. The issue is whether we agree or not. It's an issue of what's right and what do we believe in and what does the market believe in and what Canadians believe," he said.
"The tension lies in fundamental visions of status quo versus evolution."
While joking openly about his frequent use and affection for RIM's Blackberry, Balsillie wouldn't discuss the company's future plans or rumours about new product lines such as a flip-phone coming on the market.