I don't think this is true. I read the feedback from investors of "We won't invest if there is a union" as posturing to get a better deal. But that's still something that would impact employees because it would lead to more dilution. That's why I think a union is only going to succeed in pre-IPO startups if they are specialized in the dynamics of these types of companies. Medium is on the path to IPO (maybe surprising to some people), so having a union form in a way that dilutes your equity is counter to the goal of the union benefiting the employees.
