jeffcwang

Provide a tremendous amount of value through the product that will lock one (or both sides) into your platform. Example, credit card merchants provide buyers with fraud protection, improve cash flow, rewards points.

Alternately, create a marketplace that is focused on high margin, episodic transactions where customers don't feel the need to dis-intermediate. Airbnb is a good example.

I'm also an HBS grad with a technical background (BS/MS comp sci + 7 years of coding before b-school). While I agree with most of your sentiments, I feel compelled to offer a slightly different view.

Regarding your comments around the CTO position, I think that is because HBS didn't pay attention to tech/startups until about 5 years ago (i.e.: Field 3, Startup i-lab, tighter recruiting with silicon valley). I'm guessing that in 10 years, we'll see more as the current batch of students mature in their careers and have the CTO position available to them. Additionally, most of the technical students in my class (myself included) decided to pursue the PM track for the very reason you highlighted -- to have a seat at the table when making significant business decisions. In my current role, I run product, engineering, and operations. I still code (python/flask/node/postgres) but I'm also responsible for the product roadmap and operations (supply chain, recruiting, call center efficiency). I have a direct impact on revenue/managing costs and driving results through the metrics we measure. More importantly, I work directly with the CEO and have even had the opportunity to present to the Board. I feel this wouldn't have been possible with an MBA.

tl;dr: An MBA can actually be helpful for technical folks. In looking holistically around product/operations/sales, the actual code is probably one of the less important things in achieving business goals. Take a PM track if you want to have broader impact outside of just dev work (but with the option value to continue coding if you like).