MBAs had no long-term vision, so in each company they infested, they made poor strategic decisions such as moving manufacturing overseas, which then forced other companies to move their manufacturing overseas.
The countries they chose have zero respect for intellectual property. So now what's left are zombie companies milking their cash cows dry as international competitors arise and take their market share.
The economic basis for that appeared way before the first MBA got a job.
“My goal is to make money”
Other people think:
“I need to make some money to achieve my goal”
There are plenty of people from the second category that run businesses, but probably more from the first though.
A company should stay true to its mission and vision.
But I notice you didn't actually give an example of an outlier MBA that did not behave this way and contributed positively to the company they ran?
Generally one is not supposed to stereotype groups based on characteristics outside their control.
on edit: added in abhorrent.
But he is right in the sense that a company leader needs to occasionally leave the meeting room and get in the factory floor, get direct exposure to customers and see things firsthand.
We would be already in Mars if we had not stopped doing that.