To me it sounds like he's trying to say that the vast majority of startups aren't in a position to offer lavish wages to obtain talent; they're still trying to

To me it sounds like he's trying to say that the vast majority of startups aren't in a position to offer lavish wages to obtain talent; they're still trying to receive funding to get off the ground. He suggests that the companies should be transparent with the state that "they don't have money yet, but we're hoping to soon" as a pitch that'll draw workers?