The last statement, "you need us more than we need you" is definitely arguable.
I believe that there are aspects such as leadership, foresight and intuition that can't be taught or learnt with a college degree or from a book.
These things CAN be brought to the table by people with non-technical backgrounds and can be more valuable than all the technical background in the world, because most technical professionals can easily be replaced by the next applicant.
Leadership, foresight and intuition are needed in a technical founder as well.
There are many many more non technical people looking to do a start-up; it is also the case that most non-technical professionals can easily be replaced. But remember we are talking of partners, not employees.
I believe that there are aspects such as leadership, foresight and intuition that can't be taught or learnt with a college degree or from a book.
These things CAN be brought to the table by people with non-technical backgrounds and can be more valuable than all the technical background in the world, because most technical professionals can easily be replaced by the next applicant.