I agree most startups fail, but no they don't die a horrible death nor do the majority of them earn no money for their founders. Many founders could have made more money through traditional employment, but you'll find very few startup founders are actually poor or become poor due to a startup.

There is an opportunity cost to starting your own company, but it's not some kind of horrible experience that will drive you to bankruptcy unless you're part of the 1% who manages a spectacular exit.