That is the part of the story that sounded made up. A few months later he founded another company the right way and sold in it in 9 months.
Judging by the comment that he would never pay by the hour instead using a flat salary he would simply assign expected tasks and deadlines. Not sure that strategy attracts the type of developer who could build the next facebook.
The problem with trying to figure out what your product is by actually developing it is usually solved by designing what you want with pen and paper first.
Most successful businesses start with a product idea and the difficult part is getting funding to built it. It sounds like the author started with money but no vision.
Judging by the comment that he would never pay by the hour instead using a flat salary he would simply assign expected tasks and deadlines. Not sure that strategy attracts the type of developer who could build the next facebook.
The problem with trying to figure out what your product is by actually developing it is usually solved by designing what you want with pen and paper first.
Most successful businesses start with a product idea and the difficult part is getting funding to built it. It sounds like the author started with money but no vision.