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Choosing to do the harder thing may not always be productive or practical. If I think it will take me 3 years of research to (maybe) solve a problem and bring a product to market, and I know another problem I can probably solve in 6 months with the same potential financial reward, which one should I choose?

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The advice wasn't "always choose the harder thing". Obviously that's not correct, even generally speaking.

Note the part where you're supposed to do this _when you have a hard time deciding_.

Start the three-month project. In a year, there will be ten different companies competing over the shorter-term project, and you'll be ahead of everyone on the hard problem.

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