It totally depends on what industry/vertical you are trying to take on. For web apps, yes an MBA is not vital since you can bootstrap w/out funding (as the author alluded to). However, I'd argue that the connections you get with an MBA can be worth their weight in gold.
Case in point: Gilt. Don't tell me that these MBA's are failing (http://www.gilt.com/company#team). I'd happily trade shoes with them :-)
You know Alexis and Alexandria (the two HBS MBAs who are ostensibly behind Gilt) had almost nothing to do with the company's conception - right?
The real founders are Kevin Ryan and Dwight Merriman (the founders of DoubleClick). They created and funded Alley Corp with their Google money, which runs a whole bunch of really great startups (like 10Gen, the company behind MongoDB). The story about Alexis and Alexandria dreaming up the idea in business school is just for PR purposes ...
"Gilt Groupe is an online retailer based in the United States. Founded in 2007, Gilt Groupe stages online 'flash' sales, offering women's, men's and children's designer apparel and accessories, designer home goods and high-end travel destinations at discounted prices in a limited time sale format, typically 36 to 48 hours.
Kevin Ryan founded Gilt Groupe in 2007. Gilt first launched women's clothing and accessories in November 2007, men's in April 2008, Gilt Groupe Japan in February 2009, Gilt Fuse in August 2009 and a travel site named Jetsetter in September 2009. Gilt Groupe is based in New York, NY with warehouses in Brooklyn, NY and Andover, MA.
Gilt Groupe has raised a total of $48 million to date; its investors include Matrix Partners and General Atlantic Partners.
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thx for the heads up.
Using the Gilt example I don't think I'd have the chops to do so. If someone was able to rally that kind of talent in NYC without an MBA, they'd have to be pretty amazing. Pedigree is still important, esp. with a Fashion startup.
Case in point: Gilt. Don't tell me that these MBA's are failing (http://www.gilt.com/company#team). I'd happily trade shoes with them :-)