Yes, it does. These are good pointers, the most important thing is to treat media relations and pr as a marathon not a sprint.
Good relationships with companies and people there help me be better in my job, because I can get feedback, additional information or the exclusive we all want.
It will also help you if some catastrophic event happens, say a hacked database.
This method of press does. Generate news, invest in the people. It's like sales.
Does press for startups? Sure. High-profile startups can raise a lot of money and do great things with them.
It's not everything. Color had great press and didn't do more than light $42M on fire.
It's sad really, that news items get picked on who you know, instead of what the news is about. If you live in Europe, you're basically fucked. Unless they can't ignore you anymore, like Minecraft.
That's why I don't do PR anymore, because I'm not based in US and don't have any journalist contacts in my social network.