There are so many things they did that are obviously wrong from the Lean Startup perspective. And then he goes and blames the Lean Startup material, rather than their understanding of it.
For example, his notion that product management is supposed to be casual and erratic is not what the Lean Startup approach suggests. The essence of the approach is in proving that customers really need something before you invest in it. It's a disciplined, data-driven approach. But he says they built half-assed features that nobody needed, and somehow blames that on the Lean Startup stuff.
Also, he preaches about controlling expense. The word "Lean" in "Lean Startup" comes from Lean Manufacturing, the heart of which is relentlessly discovering and eliminating waste. How in the world did he get from that to being free-spending and wasteful?
And then this makes me crazy: "By this stage, Lean Startup theory told us we should be scaling up." No. No, no, no, no, no. No! The Lean Startup theory is that you start scaling if and only if you have achieved product-market fit and have a sustainable way to deliver. He described nothing to suggest they were close to product-market fit. Indeed he says they were limping.
Or his sudden too-late realization that software quality is important. The Lean Startup stuff is basically Extreme Programming plus Customer Development plus some Lean philosophy. Extreme Programming is one of the most quality-focused methods. At my Lean Startup, we had high unit test coverage, strong acceptance tests, lots of code review, and very high quality. 18 months ago I gave a talk on how quality practices were vital when using the Lean Startup approach:
And it's not like I was the first, or even the 10th person to talk about this. Rather than blaming the Lean Startup approach, he should blame his poor understanding, and his cargo-cult adoption of various rituals he apparently couldn't fathom.