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A CTO who still codes full-time hasn't understood the job yet. The real work is absorbing business pressure so engineering teams can build properly, and carrying alone the decisions that go wrong.
A Lead Developer who codes all day isn't a lead, just a developer with a fancier title. The real work happens elsewhere: in the decisions that let others do their best work. And it starts with accepting to fade into the background.
A project has a start date, an end date, and a scope. When it is delivered, it is done. A product has no end. It evolves, improves, and responds to changing needs. These two ways of working are not compatible - and confusing one with the other is expensive.
