I broadly agree with that text, I think that premise probably applies to most people. I've spent essentially every day of my adult life as an entrepreneur. It's so difficult and grueling, there's no amount of money that would compensate for what you go through over a long period of time. You better like something more about it than money or it'll ruin you. When I was in my early 20s, I used to recommend that people should start their own businesses, I no longer do that; I think the people that are well suited for it, will typically do it anyway.
When it comes to money, I think there are plenty of entrepreneurs that fall into my category - I want to get up every day and do what I want to do with my time, work on what I want to work on. No less, no more. I like that I can immediately throw all of my effort at something if I'm struck by an idea or problem I want to solve. I like that if I want to burn a week working on a potentially absurd optimization for caching, in the process of building something, I can do it: I set all the deadlines and end goals.
Money is nice, sometimes it has poured in, sometimes it has been all pain and struggle. Doing what I want to do with my time, is nicer than money for me, I'll always spend my capital on that freedom rather than traditional consumer goods, if I have to choose. The freedom to work on only what I want to, is the only thing I've ever wanted professionally, and I feel like a prisoner trapped in a cell without it.
Does it matter which tiny piece?
Is making the world better for the top 1% the same as the bottom 1%?
Does the 'importance' matter?
Sorry if this doesn't make sense, just something that bothers me personally (because I do believe in carving out a tiny piece of the world and making it better).
I'm not in my brother's circle.
Having said that, its good advice. Most people underestimate the joy you get from a good solid, routine job that pays well. And they overestimate the joy you get from a giant windfall ... such as you get when you finally take your startup public or sell it off.
Also, I have met far more douchebags among the ranks of lawyers and VCs in silicon valley than I have among the ranks of small business owners (my brother owns a couple small businesses and his circle is very down to earth).