[slaymaker1907]

Lake Woebegon is a horrifically bad strategy under even the most basic of assumptions. There are not enough engineers in the world available for hiring to create a single large tech company under such a strategy even with zero turnaround. A fixed level of achievement can give you similar quality (assuming you do have some level of attrition) but at a much faster rate.

The best strategy after looking at various strategies under simulation is to focus on developing the people you already have since fixing your quality through hiring is very difficult and expensive.

[yowlingcat]

It's a substitute for a strategy: in reality, it is a wishful thought masquerading as a strategy. It doesn't give you any strategic framework for achieving that by hiring, mentoring and retaining in a competitive landscape. I find it of limited use and anachronistic.