Quoting Fred Wilson:
[...] most of our portfolio companies build the product first, then the business, then the company. And building a company is often difficult for founders because they are so focused on the product. [1]
That said, the course does seem to touch on important topics to build a web product with tools out there today. I found the Unix section [2] a bit ambitious. If someone came in with little knowledge of Unix prior to this, as the PDF seems to assume, it provides just enough rope to hang yourself with.
The Introduction [3] also ends with "Time to start coding", which seems like a great way to build a SaaS product, but maybe not a company.
[1] http://www.avc.com/a_vc/2011/10/building-a-company-vs-buildi...
[2] https://spark-public.s3.amazonaws.com/cme184/unix.pdf
[3] http://spark-public.s3.amazonaws.com/cme184/introduction.pdf