It depends. I know it exists in finance to a similar degree. I think it has to do with how insular the particular industry is. Tech is often very insular, because all you need are some hackers. My start up, for instance, doesn't need salesmen, or scientists, or accountants, or even a receptionist or whatever else. I really only care about one or two skill sets, so I could just assume that every salesman alive is a moron and still succeed just as well.

I feel like it doesn't exist so much in many broader industries. Great businessmen realize that success is about getting people who are good at what they do and giving them everything they need to succeed, and then staying the hell out of their way. In a biotech company, for instance, some of the skill sets required are science, sales, accounting, politics/lobbying, manufacturing, etc.

Successes in an industry like that sort of requires you to be willing to admit other people are as smart as you and know more than you about many things.