Ask HN: Do you really need $2000 to start Facebook Ads?

I recently had someone tell me that if you try to test Facebook Ads with just $100 it's a complete waste of time since you need much more data to make a decision. They mentioned you need $2K at least. Is it true? What has your experience been in the past?

Here is the reasoning of why you need $2K and $100 won’t do: http://www.criminallyprolific.com/2014/07/how-to-start-advertising-on-facebook/