The key is that he knows code. Depending on the size of the organization you run you don't have to be a regular coder, but a coder you must be.
I've seen far too many CEOs and managers who are technically inept, and as such completely gloss over great technologies and business opportunities, while at the same time pursuing impossible goals with no understanding of the technical underpinnings of their business.
I'm not so sure that a CEO/Founder needs to know code, but I do think that a Founder of a startup company in the software realm should understand where programmers are coming from.
This post seems to be written from the perspective that if you are developing a product that utilizes code, and you have no money to spend, then clearly, you must write the code. However, some of the comments about this article aren't talking about this aspect, but rather that people who aren't coders, don't understand coders.
This, I don't think, is necessarily true. I believe that by keeping up with what coding/technology can provide, while also understand a programmer's philosophy, a noncoder can facilitate an environment that supports constructive collaboration between both the coder and the noncoder.
In short: I don't think you necessarily need to have deep coding skills to start a tech company utilizing programmers. I do think you need to have a great idea, an open mind, and a willingness to step inside the shoes and take the perspective of the coder.
I've seen far too many CEOs and managers who are technically inept, and as such completely gloss over great technologies and business opportunities, while at the same time pursuing impossible goals with no understanding of the technical underpinnings of their business.