To be fair, in the middle of the post Udi does mention that there are capital-intensive businesses that do require funding. His main point is in regards to building web applications and web businesses.

For many new companies funding is essential. If you want to build a new type of electric car, then you need a ton of money for manufacturing and R&D. If you want to open a restaurant, then you need money for rent, food, waiters and a chef. If you want to build a video sharing website then you’ll probably need some money because of bandwidth and storage concerns. If you’re doing something like this, then funding is a necessary evil.