"Youth" is the red herring here..... Youth is in itself not a better attribute, it is just a fact of relative age. Better to compare the pertinent attributes experience and lack there of from an investor POV.
I think its clear that Experience as real value, but the trade offs are potentially as follows:
-- expert blindness, a lack of open mindedness to alternative or new ways of thinking. Very smart, well seasoned people come with both experience and baggage about what can and cannot be done. This is where the phrase "Generals fighting the last war" comes from. Why established business has so much trouble innovating. As we gain knowledge we also start to protect it. Here is where youths blindness of "how things are done" is an advantage.
-- financial, family, and flexibility -- the ability to commit to working long hours, eat top ramen and work for low to minimum wages until the product gets traction. This is obvious something a person out of college can do easier than a person with a family and a mortgage can easily handle.
Bottomline, you NEED both. Together you have an ecosystem of fresh unfettered ideas and sage wisdom and expertise. It is the best when both are open and willing to see the advantages of each levels value and role in bringing about the best... Here like most applications of diversity, the sum truly outweighs the parts.