The 21 year old founder/CEO is largely a myth too. Not that they don't exist, but they usually aren't very good at their job.
Not everything I did with this power was smart. A lot of my understanding of what that stuff is was learned "improvisationally", and major local customers, including the county government, paid the price. But what I did do was very successfully parlay this experience into a big-kid job (and a mega pay rise) in the big city, which then begat more such jobs. I doubt I could have rocketed that high, that quickly, if the small-town ISP weren't willing to let ambitious but inexperienced people like me screw up, in exchange for paying them semi-student wages.
It's not usually the purpose.