Peter Theil, co-founder of Paypal, would probably disagree. In the book Founders at Work, you'll find that many co-founders of large, valuable companies claim that having another co-founder understand the business side was invaluable. (Note: I'm not trying to stick up for them because I'm a business guy; I'm a coder guy.)
That's true, but it's not like learning to code a little makes all your business knowledge fall out of your head. And the point of learning to code isn't that you'll now be the CTO, it's because founding a successful tech company is hard, let alone founding one when you don't know the difference between Java and Javascript. You can still be the business guy, but now you understand at least a little of the core of your business. Not to mention that if you're just a business guy with an idea and no money, few good developers will be interested.
