I'm unsure how this is different than any other business, whether online or brick-and-mortar. He says right in the presentation: this is not guaranteed to work

I'm unsure how this is different than any other business, whether online or brick-and-mortar. He says right in the presentation: this is not guaranteed to work. You still have an uphill battle; the general wisdom is that three out of every four businesses started in the US fail within their first year. However... your odds of creating a profitable company based on a sound business model are far better than the odds of you building a startup with an insane burn rate and surviving long enough (and creating a service useful enough) to have a liquidity event.