It seems the author views venture capitalists as a bunch of idiots who are eager to lose money.
And yet, venture capitalists are making money and many founders along with them.
Ok, if your goal is to have a very small business, with just a few employees and a few customers, rule that business how you want and have fun, you can bootstrap your business and keep it small.
But I think the majority of founders would prefer a fast grow and making lots of money relatively fast, followed by starting a new business.
I think it suggests that their interests are not your interests and success for them doesn't mean success for you. Their approach helps to give them one big success occasionally to pay for the things that fail but that's no use if you are one of the failures.
So they are not carefully trying to grow each company - they are adding lots of fertiliser and seeing what survives. In fact they make success harder for you by the things they force you to do. This is fine for them because one company will grow big but not fine for you unless you are that one company.
And yet, venture capitalists are making money and many founders along with them.
Ok, if your goal is to have a very small business, with just a few employees and a few customers, rule that business how you want and have fun, you can bootstrap your business and keep it small.
But I think the majority of founders would prefer a fast grow and making lots of money relatively fast, followed by starting a new business.