Everything he's done has been with his own money, and he resents the fact that it has to be that way. Maybe Frankfurt or London, but venture capital just isn't the way it works around here. All those stories about shaking a tree and watching venture capitalists fall out. Sure, it sounds great. It sounds typically American.
People are willing to take risks there.
In Switzerland it would be inconceivable to operate that way. And if I were to fail at my business using other people's invested money, I'd be ruined for life. No, but it's part of Swiss culture as a whole. It sometimes feels like there are no second chances here. If you make one mistake, no one lets you forget it.