Comment by ThePadawan

> Because they have no idea how to hire and manage teams that build software. It's a lot harder than it sounds if you have no personal experience delivering software (read: most legacy corp CTOs).

I just want to point out that this isn't just legacy corps - I previously worked for a manager who went straight from a theory heavy CS degree to a theory heavy PhD to consultancy to management.

You still get companies like this where some middle manager with 0 years of SWE experience has to hire Software Engineers with 5+.