Its an analogy, not a comparison. Different workplaces have different cultures and different standards of behavior. Startups in particular are known for having unique work environments, and how well you fit into the culture of any business is an important part of determining if you should be hired there. e.g. http://dondodge.typepad.com/the_next_big_thing/2010/09/how-t...
Another difference, of course, is that when you casually walk into a frat house, there is no contract between you and the frat. There is an appropriate time to discover a cultural mismatch: the job interview. Once there is an employment contract, the law is involved and the law in this country is rather precise about what may not constitute part of your workplace culture.
I have never worked at a company in which the workplace culture really achieved anything like the kind of professionalism my peers in other fields seem to have, but that's irrelevant to the law. If your workplace is perceived hostile, the onus is on the employer to fix it, or face legal repercussions. If you and your two friends form a startup and make life hard on your first employee, that means you--there is no "oh, but if you're a software startup, then your culture is more important" clause.
I think we should endeavor to appreciate the broadness of this protection rather than complain about having to grow up just because in our particular industry, we haven't had to yet. If you still need an outlet for your "culture," form a private club (analogous to a frat) and invite your buddies from work, but keep it out of the workplace.
I meant definition 5, which apparently is not as popular as I thought.
e.g. Peanuts are to elephants as bananas are to monkeys. Peanuts are not being compared to bananas, and elephants are not being compared to monkeys.
The workplace was not being compared to a frat house. What's being compared is the decision a person would make about those environments: if you don't like it, don't join.
If the comparison is between my reaction to some behavior in a frat house I just walked into versus my reaction to some behavior at my company, then my reaction/decision process falls out of the equation. Then the plausible comparisons I can see are: A) frat house party <-> workplace, B) some random place <-> place I am committed to, or C) private club <-> place of employment.
I'm pretty sure he meant A, as B and C don't make much sense for his argument.