Leverage is a fine choice of words. In financial terms, debt and equity are not that different. Particularly VC equity, which can have some debt-like qualities to it (liquidation preferences, etc.).
Also, many startup investments use debt instruments like convertible notes instead of direct equity purchases.
Yep. If you have traditional debt and you miss your numbers, the banks will often have rights to get significant equity and force a change in leadership. If you have VC equity and you miss your numbers, you'll have been encouraged to be at a burn rate that forces you to raise a down round sooner rather than later, and at that point your existing VCs will get significant additional equity and perhaps even force a change in leadership due the terms of those agreements - and they might even be the sharks offering you that down round.
There's no free lunch, but taking investment can let you achieve great things and build incredible communities. Just make sure you talk with founder/banker/lawyer friends who have seen the dark side of things, and use their experiences as armor.
The definition of leverage is the ratio of a company's debt to its equity. Being pressured to grow too fast by your investors because their model is for every invetment to either go light speed or bust is just a different thing. That is the source of the confusion.
Also, many startup investments use debt instruments like convertible notes instead of direct equity purchases.