TechCrunch sucks, but Auren Hoffman is a pretty smart guy, from the times I’ve met him:

We’re all familiar with Moore’s Law – that the power of computers doubles every 18 months. In my 15 years of software development, I’ve seen 5x-10x productivity gains in engineers. Which could mean that the productivity of a well-trained engineer doubles every five years. (note that this Law is much harder to prove than Moore’s Law – but potentially just as profound). That would mean that the productivity of an engineer is growing at roughly 14.9% per year! That’s fast … really fast … much faster than the 2.6% yearly gains than the population as a whole is making.

It’s true in my experiences working with new companies. Make sure there’s a developer or two on the team first, then worry about the other roles as you grow. Developers without designers may make something ugly, but designers without developers may make nothing but art.