I'm pointing this out because people are acting like he's a bit naive. But Moxie has built a very successful company, without the need for VCs, and the tech is used by many big tech companies. Several use the signal protocol. It's a successful nonprofit building open source software.
If your focus is to make large amounts of money, maybe his isn't the best advice. But if you're trying to make a high quality product, then I think it is good advice. It depends which you prioritize: profits or money. Obviously you can have both, but when push comes to shove, will you sacrifice the product for profits or will you sacrifice profits for the product?
Personally, I believe as engineers our focus should be on the product. The profits are the domain of the business people. The contention we have is good, it creates balance. If engineers overly dominate products roll out too slow and only appeal to other engineers. If business people overly dominate we sell broken garbage. Neither situation is great but which side of the spectrum would you like to be on?
[note] sure I know it's popular to hate on Signal but let's be real, this is technical nerdy shit we're arguing over (see the too much engineering side). Not something that's actually broken