It boils down to not having a handle on the general ledger, which if not suicide is at least reckless self-endangerment. But I think it is plausible for someone who is administrativaphobic. But there is a reason this is mistake #1.
Isn't that why he was writing this? To explain that his mistakes aren't representative of what he now knows he should do as CEO? I understand what you're saying on a literal level, but it's very possible he's been a good CEO in other areas that he hasn't mentioned here. I would hold off on the judgment.
Or on another, much deeper level it boils down to:
"OMG look we're so HAWT, we're co-founders after all, not gutless employees, and we're only in our 20s, doing all these amazing things, and we have this cool office and all these smart, hip people working for us.. and umm, budgets? due diligence? CPAs? What are those?"
