Ludicrous. This guy actually believes that anyone on his team really chose to work there for reasons other than income, references, and perhaps a challenging problem or two?
I know there are plenty of people out there for whom life is relationships and hobbies, and career is a way of subsidizing life. That's a totally respectable set of priorities. There are also a lot of people, especially in the startup world, who want more from their career than a comfortable job and a paycheck. It's not crazy for a founder to seek out candidates who are motivated by those other more enduring (and cheaper!) factors of love of the team and belief in the mission.