Could it have something to do with the reading speed of users?
I know that I read a lot faster than some of my old school friends. And not as fast as some old uni friends. But I'd guess the average HN reader was a fair bit faster reader than your average reader.
Though compared to the your average reader, I suspect Fred Wilson's are probably faster than average... so are HN visitors faster readers than average avc readers?
Original article: http://www.avc.com/a_vc/2011/01/rss-continued.html