Joel on Software on the Development Abstraction Layer

An excellent article from Joel on Software on what he calls the Development Abstraction Layer.

I agree with what he says about the way to run a great software company, and how to get the most out of programmers,  and the first time I’ve seen anyone comment on the success of Microsoft Alumni in setting out on their own!

But PS, I don’t personally have any experience of the sort of company he describes. Does that mean it can’t exist?