Not to disagree with the thrust of the article, but I think they're wrong on
> Hardware is riskier than software: No longer true
If you're building hardware you need to source materials for the thing, manufacture the thing somewhere, store the thing somewhere and distribute the thing. All steps that either don't exist with software or are orders of magnitude easier. All this stuff costs money and adds risk, making hardware inherently harder and riskier than software.
Obviously building stuff is still possible, but if you're going in with a VC "how do we scale this to 100 million users in 2 years" mindset then there's a lot of logistics in there for hardware.