Business guys make more money, only because they convince developers to take less than they are worth. Your friend hired a developer who, by your account, was doing all the work, and then the business failed because your friend was too greedy.
Now he thinks he's going to learn to be a developer and then not need any developers. Good luck with that.
By the way "getting it funded" is not success. Making it profitable is success.
PS- the word "coders" is like the n word. Use it and we know you don't respect us.