I didn't claim that money and independence are mutually exclusive (though I can see how that may have been interpreted). Instead, I made 2 assumptions.
1. Startups don't have as much money as a large corporation.
2. You, as an engineer, have more autonomy at a startup than a large corporation.
The reason I would choose to work at a startup over a corporation is because I value my autonomy, even if it means making less money than I would if I took a job at a large company. When I am a 45 year old father, my priorities will probably change. There's nothing wrong with that.
The question at hand is, should startups try to compete with large corporations on benefit packages? Benefits are important to feeling welcome and appreciated at work. At no point have I claimed otherwise.
My sole claim has been that if I had to make a tradeoff between certain benefits (that don't necessarily impact me as a young recent college graduate) and increased autonomy, I will pick autonomy. This is why startups optimize for recruiting younger developers. If a young developer thinks an idea is cool and believes in it, she will work her ass off. A 45 year old father, on the other hand, has other priorities. To reiterate, there is nothing wrong with that! But if a startup cannot afford to support such an experienced programmer (startups can't offer competitive salary, job safety, 401k, etc), it's better for the 45yo father to consider that before hand, rather than get burned later.
If the startup had offered him the same benefits and salary as the large company, he may have accepted the startup's offer. The startup could then go out of business in 2 months, and he'd be screwed. A young college graduate would have far more flexibility to bounce back and find another job, simply because the younger developer has fewer responsibilities.
A startup should offer as many benefits as it can. But the reality is that most startups simply cannot provide the same benefits as a large company, and I think that's ok. It's really not as evil as the author makes it seem because startups are targeting a different demographic than him.
If a startup's lack of benefits aren't acceptable to you, then you probably also shouldn't be taking the many other risks involved with doing a startup.