You're right. In his blog post about the talk[1], he makes it clear that his emphasis is on bootstrapping to profitability.

"The ironic thing about bootstrapping and venture capital is that once you demonstrate some success, investors will come to YOU. When this happens you will be in a much better place to make a more reasoned choice about taking on additional capital and all the complexities that come with it. Talking to VCs with some leverage in your back pocket is an entirely different game from throwing yourself in front of a conference table full of general partners and trying to persuade them that you're worth their time and money. Power is happiness."

[1]: http://tom.preston-werner.com/2010/10/18/optimize-for-happin...