This is the reason I think the swing big or don't try mentality is wrong. Sure, swing big, but winding up with (or intentionally building) a "life style" business that is profitable is a great way to go.
My only disagreement with this persons methodology is he is screwed if he gets hurt, sick etc. So he's not really building so much a business as he is a personal limited income stream. If he wants to take 2 months off for vacation to recharge he can't do that easily, if he wants to do something else his income is dead. Even in most life style businesses you would build the business to survive you not being there since that is how you can keep growing and expanding yourself.