Two things that are very obviously wrong with the take, both I think having the same reason: Not all billionaires are self-made, and a majority of them aren't tech entrepreneurs of the sort PG talks about in this piece. Seems like a very obvious fact but somehow doesn't really come up.

Secondly, in the same vein, the kind of (aspiring) billionaires YC meets are, by definition, builders, because they're self-sorted fledging entrepreneurs. Paul somehow uses this as an argument when he should notice that this means he has a bias.

Nobody called Zuckerberg or Bezos exploitative when they were coding in dorm rooms and folding boxes on Ikea tables, and that's the kind of people Paul thinks off when he thinks of billionaires in his job. But that's a different story from the conglomerates they run 20 year later when the majority of their employees are warehouse workers and content moderators with mental issues

Reason for not recognizing this is obviously that PG mistakes Silicon valley startup culture for the entire world, which I wouldn't have blamed him for 20 years ago, but what is odd is that it seems to have gotten worse even though he moved away from it.