I wonder if there is a difference between the CEO type role and a programmer.

It is possible in the case of a CEO that you would be able to spend more total time. Sure your performance would still suffer but it could be that just being able to get through every meeting that you want to have could be enough.

Programming is a bit different in that the work you are doing when tired could well end up having to be rewritten down the track.

They were raising their baby...their dream. Working for someone else, you don't have as much of the dream. Expecting others working for you to work as hard as you is not going to work out well in the long run. I live in Silicon Valley and I have seen the burn out. It's prudent to not expect this over long term.