Didn't Ben Horowitz basically publish this already as Old People? http://www.bhorowitz.com/old_people
The first question you might ask is, “Why do I need senior people at all? Won’t they just ruin the culture with their fancy clothes, political ambitions and need to go home to see their families?”
If you read the book, there were only a few fairly badly communicated or stupid parts, and they made a lot more sense in context (it is partially biographical, so he includes mistakes and why they were mistakes).
The "old people" is one of those which made more sense in context. It was a bad idea to let it be pulled out like this, imo.
"When to hire 'old people'?" <-- is a ridiculous question.
"Should you take asshat advice?" <-- see Betteridge's Law.
Edit: Depersonalized the target of "asshat" because I'm not in a position to judge the person, just this particular post.