Well, yes, because generally somebody who is actually 'the most capable and most effective' will simply be running their own business, why would they waste time climbing the ranks to work for somebody else's yacht?

The filter exists because whilst PMCs can't build the ship, a founder can, they're fine at keeping it away from the rocks enough for relevant parties to extract wealth and guard it from the risks posed by hotshot up and comers.

Remeber the avg corp is relying on regulatory capture and offshore Java, maybe wrapping OpenAI if it's YC funded - there's barely double digit innovative tech companies for this mythical employee to even captain.

Experience. Experience and wisdom is what trumps the exuberant overconfidence of an ignorant youth.

You say this like it’s not the intended outcome? If you have money, do you really want to invest in a high variance strategy that relies on a genius pulling rabbits out of a hat? Or do you invest in a sure thing? MBAs are very reliable at extracting value from successful firms. The continued success of the enterprise is a non goal. Same exact thing with Scrum. You have value locked up in some innovative software? Run Scrum on it for a few quarters until the juice is all sucked out, then move on, having reliably delivered features right up until the wheels fell off. It’s not about value creation, it’s about value extraction. Different game, different rules.

Every startup actually discourages this, which is why so few startups have great young managers.

    > Seniority trumps ability.