Settle down and have kids early, play the long game instead. Seriously. Have kids when you're ~25 (closer to the optimal age for having kids), then by the time you're ~45 they'll have moved out and you'll have the time and the financial freedom to take risks, do what you want, sail around the world etc.

We've done this. And let me tell you, working 40 hours a week when your 8-month baby lets you sleep on average 2 hours per night is a lot fucking harder than the 70-hour tech-scene work week. So given the choice, I'll take the former when I'm young and fit for it, and the latter when I'm older and wiser.

By having a nest egg that can keep you and your family going for a few years.

It's increasingly common for financially well-off people to marry other financially well-off people, perhaps contributing to income inequality. So, if you both share parenting duties (1-3 hours a day of individual work plus daytime child care, and being flexible with night time duties), it's doable if one of you has a high-paying steady job and the other is taking on more risk. In fact, with marginal tax rates in CA and NY approaching 50% it might actually be more efficient for one spouse to receive compensation through building equity.

Alternatively saving a lot of money before you have kids and living frugally by working in a lower cost metro area or renting outside of SF/Palo Alto can work. It's obviously a risk so you and your family has to be on board.