When you're two guys in a garage, unit tests probably slow you down. But at some point, they begin to dramatically speed things up -- working on someone other person's code becomes orders of magnitude easier when there's a comprehensive test suite to validate your changes.
The problem is that at some point between first employee and a dozen (or more) engineers, you start to wish you'd spent a bit more time on testing code. Writing those tests from scratch becomes "a project", and it only gets done with herculean effort.
I think a lot of people also see tests as slowing things down but, they also provide a lot of value in documenting intentions, make upgrades easier, etc.
There's a lot of counter-intuitive stuff that happens in production code for a big website, and it's not totally fair to throw inexperienced people at it without at least some safety belts in place.
I think, as much as I dislike pair-programming overall, that's something I would prefer to use as a safety belt here (because it's only expensive for the period during which a new employee is still learning). Pair programming hasn't ever been tried at justin.tv either though, as far as I recall. I'm probably going to give it a try at ZeroCater for new engineers actually (we're hiring!).
Being able to change core fundamental components of a system and trust that everything will Just Work™ when you're done is an awesome feeling.