The article is quite comprehensive and well written. There's also a lot of assumptions and false alternatives, like that people work to maximize financial outcome or that there's an equalprobable choice between working for startup or for FAANG.

My opinion is to try working for early stage startups while one is young and idealistic, choosing it by heart, thus maximizing its chances to success. Getting familiar with different techs and stacks. Getting a good networking while visiting meetups and hackathons. Even if the startup won't fly, it will help to get much more interesting position in established company later.