That is exactly what I mean. Zurich has prestigious schools and foreign companies that you have to attend because otherwise you can't get things like good housing or health care. In 00s Stockholm you didn't really have to do that. Which is why Stockholm have the homegrown companies and exits.
Daniel Ek didn't attend university. He tried to apply to Google but wasn't accepted. Now Spotify has had a $30 billion IPO. Presumably more than all contemporary Swiss startups exits ever. His co-founder had a degree in civil engineering (as roads and water infrastructure) but had instead founded and exited an adtech company.
Markus Persson didn't attend university either. The company behind Minecraft which he owned ~70% of sold for $2.5 billon to Microsoft. He was a former employee of King, the company behind Candy Crush Saga, which sold to Activision Blizzard for $5.9 billion.
That was the difference between Stockholm and Zurich. And between Stockholm and most other self-proclaimed tech hubs for that matter.