he is using the term "mediocre entrepreneur" to mean not Larry Page and Mark Zuckerberg
Yes, I agree. There are always a few outliers who by combination of luck, skill, and hard work (mostly luck though) hit a home run their first time at bat. "Mediocre" can mean "ordinary" or "unremarkable" and a history speckled with failures is pretty typical of most "ordinary" entrepreneurs. I find it actually encouraging, that someone with the admitted faults of procrastination, poor networking/social skills, and poor negotiating skills can still, eventually, find success.
But then he is using the term "mediocre entrepreneur" to mean not Larry Page and Mark Zuckerberg! So ... heh
I think anyone who eventually succeed in creating a wonderful and successful business cannot be called mediocre
But I actually believe it is a good list to ponder upon ( to criticize, to agree and disagree with)