I'm sorry to see evidence of a rare bad actor, but that doesn't warrant holding back critical data from the many good actors who want to invest.

Simple P&L statement & balance sheet: Provide it to all investors who ask. That's just basic common sense.

Would YOU invest in a company that wouldn't even tell you these basic financial metrics? Would this author invest without it?

And, I've seen far too many "startups" who don't even know what simple financial things are (balance sheet, P&L, cash-flow, margin), and that illiteracy is NOT going to end well.

So, the pain may be real, but the advice given is not IMO correct.