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The extra 3 hours/day used for managing can get a job done very well. For advertising personal contact, flights, letters, other marketing, more time spent w/ employees, etc., more time BSing w/ hobbyists.

What is lost by not doing software? It is a very easy existence; no pressure, minimal responsibility so long as the work goes forward day to day, late hours, no particular time when one must work, you get to figure out interesting puzzles + ways of doing things, you get to systematize which I like to do, you are on your own. But that is one reason. I dislike it so much. It is lonely, you don't become a man due to lack of responsibility, you don't have much social out, there is little fame + glory.

But I think if I managed software development I would have the best of