The lack of understanding of this quote is a very real issue in today's society. Experience is not gained in a classroom. Skills yes experience no. Take young people with skills and pair them with a leader who has experience and you have a winning team. Take young people and pair them with an inexperienced leader and you have in many cases chaos. Thomas Watson was obviously an experienced leader.
“Recently, I was asked if I was going to fire an employee who made a mistake that cost the company $600,000. No, I replied, I just spent $600,000 training him. Why would I want somebody to hire his experience?” Thomas John Watson Sr., IBM