The author is talking about a decision that I don't think is made very often. Founders don't sit around thinking, "Gosh, should I do a VC backed business or a lifestyle business? Which has a bigger chance at wealth?" They generally chase the idea that they chase-- because they are passionate about it or because it falls into their lap. Based on that idea they say, "I could pull this off without someone else's money" or "I need to go find some money somewhere if I'm going to pull this off."