I think we're in full agreement on this one. For example, I'm American living in London, with a graphic designer from Russia living in Liverpool and a developer from Belgium living in Spain. In no way have our backgrounds shaped or reduced my risk of building that team...they are just simply good at what they do, so we work together.

I've worked with more than a few terrible developers who have exemplary-looking college and startup pedigrees.

My point is that on a macro scale it does reduce risk. Otherwise these ambitious 22 year olds making $120k+ wouldn't exist...