I was prepared to straight up fight with this author until I actually read what they were saying:
1. Don't hold infeasibly high standards when you're starting up. Time is more precious than than anything (you can't spell "scrappy" without "crappy").
2. Be more intentional than a lottery-ticket financial plan when it comes to evaluating what traits matter and at what priority order. If everything is a priority, nothing is a priority.
3. Recognize market dynamics. If you pay shit for shit hours to do shit work, you'll get shit unless you just get lucky.
4. Hire great people now, rather than waiting for the "best" (read: naively idealized) people.
To this, I'd probably want to see the author add another essay on the perils of hiring mediocre people (Jobs: bozo explosion, Rumsfeld: "A's hire A's, B's hire C's..."), because that's the very common company-killing pit that people are trying to avoid.
Mediocrity drives away talent, and a small team of talented people will absolutely smoke a large team of mediocre people. And therein lies the conundrum of startup hiring: what's the right balance?