I've worked with a fair number of Start-Ups as well. My observations have been very different to the article - not that i read it all; it was rather incoherent.

Not every Start-Up i've worked with has had the same issue, but these are my general observations.

1. Founder doesn't release product early enough due to an inherent fear of vulnerability 2. Too much focus on getting investment instead of gaining traction. 3. Too busy building systems instead of solving customer problems 4. Dysfunctional Team or poor working culture.