Graham emphasized that conventional wisdom about management in Silicon Valley is flawed; founders should run companies in founder mode, like Jobs, not manager mode.
Chesky faced disastrous results by following the advice to hire good people and give them room, reinforcing that founder mode is overlooked in traditional management.
The advice founders receive often comes from a manager's perspective, which neglects the unique abilities founders bring to their startups and fails to recognize that they can operate differently.
Graham proposes that the principles of founder mode are neglected in education, yet can be discerned from the failures founders experience while adhering to conventional manager advice.
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