Errror in Caro's Lectures?

[rvg72]

Reading some of his lecures from about 7 years ago. In the 23rd lecture titled "Folding Your Hands for Extra Profit" he makes what I think is a false statement:

Against a Bet, whenever Calling is unprofitable and raising is unprofitable then folding IS profitable.

This is wrong, isn't it?

Through bet sizing you can make someone lose "money" by calling, raising or folding.

An obvious example is someone on a draw - you can make a bet that makes drawing unprofitable due to pot odds and at the same time a fold loses them money since their pot equity is more than the bet amount.

Am I overlooking something? He does not specifically mention Limit or No Limit (or even Hold'em) when discussing this and other points, it is more general theory.

rvg