I have been making an attempt to go away San Francisco since 2014. After pretend retiring in 2012, I believed it was solely logical to maneuver to a lower-cost space of the nation, like Honolulu, to save cash and be nearer to my people.
Sure, Honolulu is not low cost, but it surely’s cheaper than San Francisco! Nonetheless, each time I attempt to go away, San Francisco pulls me again in.
Listed below are some the explanation why:
- 2014: Discovered an ocean-view residence in San Francisco for affordable, so I purchased it as a substitute of shopping for a way more costly ocean-view residence in Honolulu.
- 2017: Had our first baby, so we determined to remain for continuity. As first-time mother and father, we had sufficient stress.
- 2019: Had our second baby. There’s quite a lot of consolation in realizing your docs when you could have a new child.
- 2020: The pandemic compelled us to shelter in place for a number of months. Relocating to a brand new metropolis with an toddler and three-and-a-half year-old throughout a pandemic creates extra uncertainty.
- 2021: Son acquired right into a Mandarin immersion college. He is loved his expertise thus far, so it is arduous to drag him out and place him in a brand new college.
- 4Q 2023: A possibility to buy a dream residence at a extra reasonably priced value, so we did.
- Fall 2024: The potential for going again to work full-time as soon as each youngsters are in class full-time. The job alternatives are extra plentiful in San Francisco than in Honolulu.
Having A Household Makes Leaving Any Metropolis Extra Troublesome
If we did not have youngsters, I am positive my spouse and I might have relocated to Honolulu years in the past. We longed to stay an easier life close to the ocean in year-round heat climate. We had sufficient cash to stay comfortably, however not extravagantly.
I imagined fixing up my grandparents’ previous farmhouse in Waianae and consuming off the land. After breakfast, we might go to the seaside to boogie board or surf. Then we might come residence, eat some poké, and take a nap. Then we’d go for a late afternoon hike.
Though we might lose all standing and status, we might be mentally and bodily more healthy and happier! Not a foul commerce over simply being profitable. Alas, we had youngsters, that are a blessing.
After getting a household, inertia makes it very arduous to relocate. Your home, college, buddies, community, and healthcare suppliers all preserve you stationary.
Why I Love San Francisco
Moreover America, I’ve lived between 2-4 years in 5 different nations. I’ve additionally visited over 150 cities worldwide. San Francisco is on my listing of the highest 5 greatest cities on the earth.
Listed below are the the explanation why:
- The climate is gentle year-round, which is nice for exercising open air.
- The town and the encompassing area are lovely, particularly should you can stay in a house with views.
- Napa/Sonoma Valley are solely an hour and quarter-hour away.
- Lake Tahoe has world-class snowboarding/snowboarding 3.5 hours away.
- Nearer to Hawaii and Asia than cities on the East Coast.
- Improbable universities similar to Berkeley, Stanford, UCSF, Santa Clara, and so on
- All the time a prime three culinary metropolis in America
- Bountiful job and consulting alternatives that pay properly
- One of the vital numerous cities on the earth
- One of many most cost-effective worldwide cities on the earth
- Tons of leisure, like tennis tournaments, entertainers, and artwork reveals come right here
Why I Dislike San Francisco
After all, no metropolis is ideal. Listed below are some the explanation why I dislike San Francisco:
- Some corrupt metropolis officers
- Authorities waste
- Crime and homelessness
- Excessive value of residing
- Intense hustle tradition in some industries
- Forms relating to getting issues accomplished
However the actuality is, each single metropolis has these bullet factors to numerous levels. The one factor I really like about Honolulu over San Francisco is the dearth of hustle tradition. As soon as you have left an intense profession, you will not wish to be continually surrounded by go-getters.
Pleasure Is What Retains Me In San Francisco
I’ve gone by means of the professionals and cons of San Francisco many instances earlier than. However what I spotted most not too long ago is that pleasure is without doubt one of the fundamental the explanation why I stay in San Francisco.
As somebody who simply will get bored, I must be in a vibrant metropolis the place there’s one thing thrilling at all times happening. Let me share a few examples.
1) APEC Comes To San Francisco
San Francisco not too long ago hosted APEC, the Asia Pacific Financial Council. President Biden, China’s President Xi, and a bunch of different world leaders got here to hob knob.
As an Asian one who lived in The Philippines, Japan, Taiwan, and Malaysia till highschool, it was thrilling to see 21 APEC leaders come to city and construct relationships. Listed below are some images of who got here to San Francisco for APEC.
Not solely have been world political leaders on the town however so have been prime musicians like Sting and Yoshiki serenading Marc Benioff (Founding father of Salesforce) and different luminaries at his occasion. Elon Musk got here to city as properly.
The world’s media was targeted on San Francisco for 2 weeks. The highlight brings in additional curiosity, extra investments, extra jobs, and extra demand to go to and stay within the metropolis.
It is arduous to go away San Francisco when you recognize many individuals wish to stay right here.
2) OpenAI CEO Firing Debacle
After APEC ended, OpenAI’s board voted its CEO, Sam Altman out for an unspecified purpose. After Atman’s firing, there was an enormous outcry of assist from the VC and tech group. Greg Brockton, the President stop, together with a number of senior researchers. In consequence, the board is beneath immense stress to resign and reinstate Altman as CEO.
In the event you’ve watched Succession on HBO, all the OpenAI debacle feels just like the present on hyperspeed. Thrilling and interesting to watch!
As soon as once more, all the tech world is concentrated on what the heck is happening in San Francisco with the most important synthetic intelligence firm on the earth.
For a fast overview of what is going on on at OpenAI, the maker of ChatGPT:
- Altman clashed with the board on the course of the corporate (e.g. income vs. non-profit, AI security, velocity of improvement of expertise, Altman wanting to start out one other firm, and so on)
- Energy battle between Altman and Ilya Sutskever, OpenAI co-founder and chief scientist
- In a coup by Sutskever, on a Google Meet, “Ilya instructed Sam he was being fired and that the information was going out very quickly.” Shortly after, Brockman was instructed he was being faraway from his place as chairman of the board however would maintain on to his function as president.
- Microsoft’s CEO Satya Nadella came upon concerning the board’s resolution similar to the remainder of us on Twitter, regardless of having invested over $10 billion in OpenAI. Curiously, regardless of the funding quantity, Microsoft would not have a board seat.
- OpenAI workers have been on the cusp of with the ability to promote their shares at a staggering $86 billion valuation. However now that valuation quantity is wanting suspect. OpenAI’s board might have torched tens of billions in shareholder worth.
- Now OpenAI’s board is beneath stress to reinstate Altman, who’s contemplating coming again if the board is eliminated. However he’s not! Emmett Shear from Twitch is now CEO.
- Altman is becoming a member of Microsoft to steer a brand new AI challenge. Working for giant tech looks like a disappointment for Altman, however a win for Microsoft to regulate extra items and get an in-house AI expertise.
In the event you’ve lived in San Francisco since 2001, as I’ve, you inevitably will know individuals concerned on this drama. How might you permit?
Be In The Proper Place At The Proper Time To Get Wealthy
Half the battle of getting wealthy and/or getting forward is being in the fitting place on the proper time. When you may simply meet decision-makers in particular person, it is a lot simpler to construct relationships. And when you could have good relationships, life will get simpler.
I am speaking about getting a job or a consulting gig, getting your youngsters into college, elevating cash to your firm or fund, beginning a enterprise, and extra. In the event you’re a useful and comparatively good particular person, you’ll get farther forward than those that aren’t.
Laborious To Get Again In As soon as You Go away San Francisco
In the event you go away San Francisco, like many did throughout the pandemic, there is a worry you would possibly by no means be capable of get again in.
The job you vacated can have been taken by a hungry colleague. Your community will overlook about you as soon as you permit. And the prime property you owned might be scooped up by one other household and never be obtainable for the following 30 years!
I’ve lived in San Francisco since 2001 as a result of I felt the tech/web increase was right here to remain. Sure, the dotcom bubble had burst in March 2000, however the groundwork was laid for Net 2.0.
Given I could not get a job in tech, I purchased public tech firm shares. Then I purchased as a lot San Francisco actual property as I might afford. Picks and shovels for many who’ve been shut out!
It appears apparent that synthetic intelligence will revolutionize the world once more. Nonetheless, this time, the stakes could also be even increased as a result of AI might get rid of my kids’s jobs in addition to yours.
Worry Retains Me In San Francisco
With Net 1.0 and a couple of.0 firms, there was a higher risk of getting wealthy by becoming a member of these firms or investing in them after they went public.
However with synthetic intelligence, there looks like much less alternative given fewer individuals are wanted to scale. These non-public AI firms are staying non-public for longer, shutting out public buyers. As well as, synthetic intelligence is a direct assault on eliminating jobs in lots of industries!
By staying in San Francisco, I really feel like I am appearing as a loyal soldier of the Night time’s Watch within the Recreation of Thrones. The White Walkers are coming to destroy us, it is solely a matter of time when. However after they do, I wish to be right here to defend my household!
AI is just like the Night time King
I am at all times considering 10+ years forward as a result of it’s a must to if you wish to successfully plan to your future. With a 3 and six-year-old, I am involved for his or her futures.
From Non-Revenue To Mega Income In AI
OpenAI went from being a non-profit whose mission was to assist humanity to being a for-profit firm value $86 billion and largely owned by Microsoft.
Huh?
It doesn’t matter what the OpenAI leaders say, the rationale why the corporate grew to become a for-profit firm was to make tons of cash for its leaders, house owners, and workers. That is Capitalism 101!
Give it some thought. Regardless of how wealthy you already are, you may’t assist however need more cash, extra energy, and extra fame.
One latest instance is Sam Bankman-Fried, his mother and father, and FTX. Regardless of having cash and status, they have been keen to danger all of it for much more cash and status!
Hearken to all the company converse you need from AI leaders selling a “innocent expertise” for the higher good of humanity. There might be optimistic advantages from AI for positive.
Nonetheless, there can even be negatives as properly, together with huge disinformation, fraud, and tens of millions of job losses. ChatGPT and Claude.ai already scrapes the web for knowledge and makes it their very own with out given any attribution to creators like me.
Investing In AI For My Household
So what’s a dad of two youngsters and a non-working partner going to do? Settle for actuality and adapt!
There is not any method I can beat AI. In consequence, I have to both work in AI or put money into AI firms decided to wipe my sort off the map.
Getting a profitable AI job goes to be tough. Everybody needs one. However investing in non-public AI firms is accessible to me, and now it’s accessible to all of you thru funds just like the Fundrise Innovation Fund. `
I’ve already dedicated $1,000,000 in varied non-public enterprise capital and enterprise debt funds which make investments elements of their portfolios in AI firms.
I plan to speculate one other $500,000 in enterprise capital funds that put money into AI firms over the following three to 5 years.
If AI revolutionizes the world, then my investments will seemingly repay. If AI seems to be overhyped, then my kids will seemingly nonetheless land good jobs.
A Mother or father’s Worry Is The Biggest Motivator
One in every of a guardian’s fears is spending 18 years educating their kids, then spending a small fortune sending them to varsity, then ending up with despondent grownup kids who cannot get jobs of their fields of examine.
This worry is without doubt one of the the explanation why I am reluctant to encourage anyone to pay full retail for school. Going to a public faculty or group faculty is the way in which to go! Cheaper price equals much less risk for disappointment.
With AI, sadly, I believe extra highschool and faculty graduates will discover themselves underemployed and disillusioned sooner or later.
By considering 20+ years forward for my 3 and 6-year-olds, I can higher hedge towards potential profession disappointments. If they can not get related jobs that present function, I am going to pull them apart someday and share a model of this observe.
A Dialog To My Grownup Children
“Expensive Son/Daughter,
I want life wasn’t so merciless. You studied your hardest in class and did your greatest over the previous 5 years to discover a job in your area. I am so pleased with you since you tried!
Regardless that issues won’t have turned out as you deliberate, your mother and I are right here for you. Do not surrender! Good issues are but to come back.
We now have a shock for you. In 2023, your previous man acknowledged the longer term and invested accordingly. Listed below are the proceeds from varied AI investments we made.
You are a grown grownup now. Be happy to make use of the funds to pursue what you actually wish to do. Remember to come back go to someday OK?
We love you,
Mother and Dad
So there you could have it people. There’s an excessive amount of pleasure, worry, and AI happening to go away San Francisco. Perhaps in our 50s will we lastly transfer to Honolulu. However not now. We have to shield our kids’s futures.
Reader Questions
Anyone stay in San Francisco and discover it tough to go away? Are you frightened about synthetic intelligence taking away jobs to your kids as properly? Moreover working in AI and investing in AI, what else can we do to guard our monetary futures?
Moreover politics and never with the ability to afford to stay on San Francisco, why else accomplish that some individuals who do not stay in San Francisco hate San Francisco a lot?
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