That's true, and having people with very strong academic bias (e.g. those who spent their short careers obtaining PhD but don't have any industry experience) ca

That's true, and having people with very strong academic bias (e.g. those who spent their short careers obtaining PhD but don't have any industry experience) can be just as bad. You generally want those PhDs as researchers or advisers to your company, not as founders/management. Obviously, exceptions always exist.