Scott Adams could have written this line (and probably has):
"Outsider, non-founder CEOs are often overvalued because many corporate boards think the answer to their problems is a superstar CEO with an outsized reputation. This leads them to overpay for people who are good at creating outsized reputations through networking, interviewing, and taking credit for other peoples' achievements--all bad indicators of future success."
Lots more that's good, most especially pointing out that the outsider CEO's loyalty is to the board that placed him there and in startups the majority investors' interests aren't necessarily aligned with the company's.
"Outsider, non-founder CEOs are often overvalued because many corporate boards think the answer to their problems is a superstar CEO with an outsized reputation. This leads them to overpay for people who are good at creating outsized reputations through networking, interviewing, and taking credit for other peoples' achievements--all bad indicators of future success."
Lots more that's good, most especially pointing out that the outsider CEO's loyalty is to the board that placed him there and in startups the majority investors' interests aren't necessarily aligned with the company's.