Not an Excuse to Do Everything Yourself
PG is careful about the failure mode in the other direction. Founder mode doesn't mean refusing to delegate or drowning in every detail forever. As companies grow, founders will have to delegate plenty, and where the autonomy line sits will vary.
The difference is that in founder mode, delegation is a deliberate choice about specific areas, made by someone still connected to the whole, rather than a blanket rule imposed by convention. Even Jobs didn't run every function of Apple by hand.
There's also a warning for non-founders: once founder mode is understood, hired managers will try to imitate it, and some second-rate ones will use it as cover for plain meddling. The mode works because of the founder's context and legitimacy, not because reaching down the org chart is magic.
Key idea
Founder mode is deliberate, informed delegation with direct engagement where it counts, not a permanent refusal to let go.