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"So is the other side of that equation the suggestion that business people hone up on their technical skills? Well, you certainly don't hear that as much. Wonder why that is?"

Because that's what the suits pay the geeks for. Our job not just to understand the technology but to also be able to explain it and it's impact on the business. The suit's job is to take our input and that of other specialists (bean counters, marketing, etc.) and see how they all fit together.