The author doesn't make a very good case in favor of MBAs (or, in my opinion, college in general). He does, however, make a great case in favor of management and experience working with other people.

Mark Zuckerberg might not have ever run a company, but he clearly knew how to inspire the people he asked to work for him. I think the fact that he had to learn how to at least manage his small team before receiving funding worked well for Facebook, and he grew at a pace that allowed him to continue to learn.

Giving a 19-year-old genius enough funding to do damage before he's ever learned to manage people is a much larger risk than funding a team that has proven it can work together. By the time Mark had gotten that funding power, he had already gone through the trials of managing employees on a small scale.