My brother-in-law initially tried for an academic career in CS. After the third university denied him tenure (after a total of 9 years), he just went into industry. His kids were school age by then, and he just didn't want to continually uproot them. Industry has worked out very well for him, I might add.
Fortunately, he didn't have any graduate students that he was advising, because they would have had problems. (On the other hand, perhaps the lack of students was partially why he didn't get tenure!)