This might be true for a class of startups, but not all. For the first 4 months or so of my latest (CAPEX intensive) venture, 'all that mattered' was developing

This might be true for a class of startups, but not all. For the first 4 months or so of my latest (CAPEX intensive) venture, 'all that mattered' was developing the business case and raising funds. I agree though; the merits of a technically capable CEO can't be overstated.