How much do Founders Matter?

A surprising data point, from Paul Kedrosky:

Most investors skew toward believing that founders of successful companies matter a great deal. A new paper, however, makes the argument that founders are largely expendable. By looking at what happens when founders die, the author concludes that founders are good for ideas, but dispensable for managing the company -- even early in its life

I guess this is good news for investors. All I need to do now is get some decent key man insurance and then I'll be all ready to get hit by that bus :).