Earlier quoted context omitted.
I will embrace each of the supposedly problematic things you mentioned in your post any day. They seem rather fair to me. Do you have a different opinion? Why would you want startups to be exempt from this?
I think he wants to make sure people know what they're in for when they leave the US to start a company. In the US, as soon as you pay someone a salary, you basically own them. You can work them 24 hours a day, 7 days a week, with no vacation or minimum wage. You don't have to provide benefits, and you can fire them for absolutely any reason at any time. You even own everything they do in their free time. That's simp…
No matter what kind of job you have, hourly or salaried, you can be severed at any time for no reason virtually anywhere in the US. At-will employment increases labor mobility and, very notably, makes entrepreneurship less risky by mitigating the problem of every termination being grounds for a lawsuit. At-will has social costs in other sectors where negotiating leverage isn't as balanced between buyers and sellers, but it is probably a significant net benefit for the tech sector.
The swap that is supposed to take place for salary-basis employees is that employees exchange their right to overtime pay for an assurance of full salary payment regardless of hours worked. If you dock an exempt worker's pay for leaving early or coming in late, they revert to overtime-eligible status; that's something that came up at a company I once worked for. Obviously, the other swap that salaried employees make is higher compensation; salaried employees out-earn non-exempt employees.