Sweden's tech ecosystem thrives as founder culture replaces banking ambitions

Cherry Ventures partner Sophia Bendz attributes Sweden's startup success to a cultural shift where founding a company is now seen as desirable, unlike the past preference for banking and consulting. The ecosystem has raised $2.8 billion this year and is on track to exceed $5 billion, with repeat founders like Spotify's Daniel Ek mentoring the next wave. American investors are increasingly flying to Stockholm to meet founders and issue term sheets.