The essay read to me like, "Oh, you are white guy, your parents are well off, you must have been studying in some tier 1 school, why not risk 1/2 yrs of your life to start a company, while you are in college. Chances are you may get some money from us too! You should try a lot. Infact the more you try, the better we earn."
edit: What PG misses is worldwide perspective. Everything in his essay is limited to Silicon Valley and the social circle around it. Some people from east may have connections with the valley, and that can benefit them.
He even goes to mention, startup succeed because of social factor. There is a very small chance that people in US would trust a revolutionary product built outside. So unless the product is able to bootstrap itself in the home country, the chances are slim. And not every part of the world is as fortunate as SV folks and have startup culture.
You may say, why not move to one with good culture. My answer, "Goodluck getting out of third world country."