The authors definition of a startup is looser than yours. He is clearly including his example lawyer from the article as one of those 80%. Also I don't think

The authors definition of a startup is looser than yours. He is clearly including his example lawyer from the article as one of those 80%. Also I don't think the 930k number includes people who have significantly more than 5 million. There are about 300 million citizens in the US 1% of that is 3 million not 930k. A lot of people like Doctors that make 500,000 a year spend most of that money as they go. hence I would bet a lot of them never make it to the 5 million mark.