I think the author misses the major argument, which is "I have to make rent". Most startups never get to the point of making a profit.

This is why now isn't generally a good time to start a company (unless you are able to raise substantial investment). Now is a great time to get a job at a funded startup, save money, learn skills, make friends - once the bubble pops you'd have the basic ingredients to start your own thing (and - possibly - without a job anyway, so have nothing to lose)