" A PhD is less important for doing groundbreaking applied engineering and entrepreneurial work, especially in tech. " I'm just going to sit here and ponder "groundbreaking entrepreneurial work" for a while. Is it like "financial innovation?" Anyway, I'll also point to Matt Might's illustrated guide: http://matt.might.net/articles/phd-school-in-pictures/
I’m not sure why you’re mocking “financial innovation” — do you think there aren’t new ways to do commerce or finance than what we have now?
Also, that post is dumb: the topology of knowledge isn’t nearly so simple — and that’s worth remembering because the places where you can create new knowledge aren’t all at some boundary which only can be reached by a vaunted PhD.
The oversimplification isn’t enlightening — it’s a self-serving justification for classism.