In other words, access to capital is not even remotely merit based or democratic. Even sustainable small businesses face incredible obstacles in securing commercial financing. So, starting you own internet company on credit card financing is simply out of the question. For people with familiar faces or familiar surnames managing the risk of uncapping opportunities is easier, because they do have some goodwill to rely on, be it the family business or fortune, their own network or education. Nonetheless, one does breathe risk when doing business in Latin America.
Risk is everywhere, and people learn to live with it early on.
Living with risk demystifies it. Well, because of the last of the conditions I listed above. And as such, the expected reward part of the economic equation is either not weighted as heavily, or is viewed optimistically. A financial portal for Latin America bought by Banco Santader.