"So if you don’t think any of this will happen to you, then you’re probably wrong. After all, a successful startup is likely going to be 7 to 10 years of your life minimum. And a lot of life happens in 7 to 10 years."
Don't agree with this at all. Total hyperbole (the "this will happen to you"[1]) I've been observing small business and entrepreneurship for probably longer than Wade has been around. There are countless people that are operating all sorts of businesses (say the local restaurant) that also have life events and you figure it out. I've had them all through my business years. I started young as well. My father got sick, employees had problems everything. Life goes on. You can't not do something because you might have a bunch of circumstances that might come together over the course of 10 years (or longer).
That said of course it's a bit safer to work for the government with a guaranteed job if that's what you want out of life. But the reasons that Wade is giving, at least the ones which he details are simply not reasons to be fearful of starting a business.
[1] Things happen of course but the question is will they happen to a degree that creates a situation that you can't handle.