My point isn't that young people are incapable (some of them are great), rather, that the people that think they can build something by taking advantage of naivete are going to quickly discover that for every young brilliant programmer, there's 10 people that will some day be good, but at the moment they're inexperienced and they'll create junk if they're not mentored.

But it's true, many of these companies are designed to be flipped, technical excellence might be a secondary concern. Ninjas beware.