There is a lot between web startups and dry cleaners. Both companies I worked for as an engineer were founded by guys in their 40's. The industries were defense and telecom (cutting edge stuff in the defense area--I was talking with a VC the other day who was surprised we were 5-7 years ahead of VC funded efforts in that area). Both had PhDs and a deep well of expertise. Have they achieved zuck level luck? No, but unlike most web startups (and like dry cleaners I guess), they have revenue and are self sustaining (10+ years now) without VC money rolling in or an exit.
