No, they shouldn't choose more specific books, they should just friggin get to work. Startups are all about hard work, not about sipping coffee and reading.
Yes, because no good knowledge could possibly come from reading a business book. Startups are not just about work, they're about work, learning, and growing a business. All of which can be improved by insights from some of the fantastic business books out there.
Not to say that learning is bad, just saying of the thousands of people reading Hacker News every day, I'd guess the majority of readers need to stop reading and start doing.