It's also like he doesn't know what investments are: a gamble that you think the proposed company/solution/whatever is going to succeed, and that the few successes will be far more valuable than what was spent on all the investments, successes and failures combined.
This is like if I wrote an unhinged rant about how Y Combinator wastes money and is stupid because most of the picks have turned out to be shit choices, and ignoring the fact that the few that survived, found their market fit, and succeed were highly profitable and helped fund future rounds to continue the process.