The Founder Dilemma: Risk, Equity Dilution, And Term Sheets

I have a question for the more experienced HN users: is the author correct in asserting that in the "real world," being a co-founder of a startup is considered unemployed if there isn't a successful exit? I always thought that building a product from start to finish that has users is considered good experience to employers, even if it turns out not to be a sustainable business.