Nope, that's not true at every company. In some companies PMs are part of the business unit, at others they're part of the engineering organization, and sometimes they form their own organization that sits in between engineering and business. There's no one right way to do it.
I'd argue that the first PM hire at a startup should report directly to the CEO since it's likely that the PM will act as the proxy for the business (and by extension the customer). At the same time, I'm seeing an increasing trend toward PMs with technical skills -- my guess is that within a few years it will not be possible to succeed in a PM role without at least some hands-on technical experience.
Nope, that's not true at every company. In some companies PMs are part of the business unit, at others they're part of the engineering organization, and sometimes they form their own organization that sits in between engineering and business. There's no one right way to do it.
I'd argue that the first PM hire at a startup should report directly to the CEO since it's likely that the PM will act as the proxy for the business (and by extension the customer). At the same time, I'm seeing an increasing trend toward PMs with technical skills -- my guess is that within a few years it will not be possible to succeed in a PM role without at least some hands-on technical experience.