My interpretation of this article: Don't take VC funding! It's the definition of failure! It will have you doing the wrong things for building a business with strong fundamentals! (Except this VC-powered kind of "failure" is a more likely way for the founders to become very wealthy.)

I'm open to criticisms of VC models, but I don't see how this argument is going to dissuade many founders, who are the ostensible audience.