I think it's fair to assume that Paul Graham, who runs a startup incubator, already knows that it takes more than that to run a company successfully. So what's the point of broadcasting this simplistic, condescending viewpoint to his followers?
If I was one, I would feel that he's looking down on me. "We smart, you dumb. We do thing good, so we also do other thing good. Shut up and clap for creator."