Most likely it was used in the general business sense as synonymous with positive cash flow. This suggests a different investment model than found in the Silicon Valley startup ecosystem: the more typical model wherein investors seek regular periodic returns via a share of short term net income. In the SV startup model, investors seek their returns via increasing the value of their equity rather than via "dividends". This means their expectation is that net revenue is used to grow the company not to pay investors...since extracting cash every year or quarter impedes growth.

An investor seeking payments from operating cash flows may be a good investor, but the investment isn't really venture capital and the alignment of interests is not really conducive to a startup in the Silicon Valley sense. Not that that form of startup is better or worse, just different.

Probably the best example of how a startup is meant to work is Amazon. For many years its value grew because it did not turn profits. Expenses generally totaled income plus any new investment. But at the end of the day its value was greater than its liabilities.