There are plenty of highly paid engineers who couldn’t build a decent product given all the coffee in Shoreditch.
As a non-tech person, how do I know to whom I should give all this money? Maybe a hands-off CTO or a hands-on architect cum engineering manager? Or a product person? Or maybe a skilled UX designer? Or a good infrastructure person? Or a DBA, and in which database? Or should I lower the money and get cheaper people in all those roles? Or maybe outsource the whole thing to an agency?
There are plenty of stories of companies who have hired all the above on good money and built an over-engineered, unmaintainable mess that solved zero real world problems.
I would argue that instead of money, you should build it with patience. Hire slowly. Solve one small problem at a time.