What this guy is saying is "If you're a businessman that is 'profitable' because your server costs $20 a month and your startup brings in $1500 a month, while you put more than 200 hours a month into it, then you're not profitable."

And he's not wrong, because on oDesk you could be bringing in $4000 a month with the same time investment, and the only reason your startup is profitable is because you're not factoring in all of the capital costs (not just cash).