I have been making an attempt to depart San Francisco since 2014. After fake 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! Nevertheless, each time I attempt to depart, San Francisco pulls me again in.
Listed below are some the explanation why:
- 2014: Discovered an ocean-view residence in San Francisco for reasonable, so I purchased it as an alternative of shopping for a way more costly ocean-view residence in Honolulu. I by no means realized there have been ocean-view houses right here till I began to look.
- 2017: Had our first baby, so we determined to remain for continuity. As first-time dad and mom, familiarity was necessary.
- 2019: Had our second baby, and likewise determined to remain for continuity. There’s lots of consolation in realizing your docs when you’ve got a new child.
- 2020: The pandemic pressured 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. Staying in San Francisco was a simple choice, which did not require shifting.
- 2021: Son obtained right into a Mandarin immersion faculty that had initially rejected him. He is loved his expertise to date, so it is onerous to tug him out and place him in a brand new faculty.
- 4Q 2023: A possibility to buy a dream residence at a extra inexpensive worth, so we did.
- Fall 2024: The potential of going back to work full-time as soon as each children are at school 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 children, I am positive my spouse and I might have relocated to Honolulu years in the past. We longed to dwell an easier life close to the ocean in year-round heat climate. We had sufficient cash to dwell 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 seashore 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 status and prestige, we might be mentally and bodily more healthy and happier! Not a foul commerce over simply getting cash. Alas, we had children, that are a blessing.
After you have a household, inertia makes it very onerous to relocate. Your home, faculty, associates, community, and healthcare suppliers all maintain you stationary.
Why I Love San Francisco
Apart from 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 delicate year-round, which is nice for exercising open air.
- Town and the encompassing area are stunning, particularly in the event you can dwell 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.
- Unbelievable universities corresponding to Berkeley, Stanford, UCSF, Santa Clara, and so forth
- At all times a prime three culinary metropolis in America
- Bountiful job and consulting alternatives that pay nicely
- One of the numerous cities on the earth
- One of many cheapest international cities in the world
- Tons of leisure, like tennis tournaments, entertainers, and artwork exhibits 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 city officials
- Authorities waste
- Crime and homelessness
- Excessive value of dwelling
- Intense hustle tradition in some industries
- Paperwork relating to getting issues finished
However the actuality is, each single metropolis has these bullet factors to varied levels. The one factor I like about Honolulu over San Francisco is the dearth of hustle tradition. As soon as you’ve got left an intense profession, you will not need to be consistently surrounded by go-getters.
Pleasure Is What Retains Me In San Francisco
I’ve gone by the professionals and cons of San Francisco many instances earlier than. However what I noticed most not too long ago is that pleasure is likely one of the important the explanation why I stay in San Francisco.
As somebody who simply will get bored, I should be in a vibrant metropolis the place there’s one thing thrilling at all times occurring. 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 pictures of who came 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 nicely.
The world’s media was centered on San Francisco for 2 weeks. The highlight brings in additional curiosity, extra investments, extra jobs, and extra demand to go to and dwell within the metropolis.
It is onerous to depart San Francisco when you recognize many individuals need to dwell right here.
2) OpenAI CEO Firing Debacle
After APEC ended, OpenAI’s board voted its CEO, Sam Altman out for an unspecified motive. After Atman’s firing, there was an enormous outcry of help from the VC and tech neighborhood. Greg Brockton, the President stop, together with a number of senior researchers. Because of this, the board is beneath immense strain to resign and reinstate Altman as CEO.
In the event you’ve watched Succession on HBO, your complete OpenAI debacle feels just like the present on hyperspeed. Thrilling and engaging to watch!
As soon as once more, your complete tech world is targeted on what the heck is happening in San Francisco with the most important artificial 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. earnings vs. non-profit, AI security, velocity of growth of know-how, Altman wanting to begin one other firm, and so forth)
- Energy wrestle 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 discovered in regards to the board’s choice identical to the remainder of us on Twitter, regardless of having invested over $10 billion in OpenAI. Curiously, regardless of the funding quantity, Microsoft does 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 trying suspect. OpenAI’s board might have torched tens of billions in shareholder worth.
- Now OpenAI’s board is beneath strain to reinstate Altman, who’s contemplating coming again if the board is eliminated. However he’s not! Emmett Shear from Twitch is now CEO.
In the event you’ve lived in San Francisco since 2001, as I’ve, you inevitably will know folks 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 best place on the proper time. When you’ll be able to simply meet decision-makers in individual, it is a lot simpler to construct relationships. And when you’ve got good relationships, life will get simpler.
I am speaking about getting a job or a consulting gig, getting your children into faculty, elevating cash to your firm or fund, beginning a enterprise, and extra. In the event you’re a useful and comparatively good individual, you’ll get farther forward than those that aren’t.
Onerous To Get Again In
In the event you depart San Francisco, like many did through the pandemic, there is a concern you may by no means have the ability to get again in.
The job you vacated may have been taken by one other hungry colleague. Your community will neglect about you as soon as you permit. And the prime property you owned can be scooped up by one other household and never be accessible for the following 80 years!
I’ve stayed 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 bought as much San Francisco real estate as I might afford. Picks and shovels for individuals who’ve been shut out!
It appears apparent that synthetic intelligence will revolutionize the world once more. Nevertheless, this time, the stakes could also be even greater as a result of AI might remove my kids’s jobs in addition to yours.
Worry Retains Me In San Francisco
With Net 1.0 and a couple of.0 corporations, there was a better chance of getting wealthy by becoming a member of these corporations or investing in them after they went public.
However with artificial intelligence, there looks as if much less alternative given fewer persons are wanted to scale. These non-public AI corporations 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 Evening’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 need to be right here to defend my household!
AI is just like the Evening King
I am at all times pondering 10+ years forward as a result of it’s important 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
OpenAI went from being a non-profit whose mission was to assist humanity to being a for-profit firm price $86 billion and largely owned by Microsoft. Huh?
It doesn’t matter what the OpenAI leaders say, the explanation why the corporate turned 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. Irrespective of how wealthy you already are, you’ll be able to’t assist however need more cash, extra energy, extra fame.
Yet another latest instance is Sam Bankman-Fried, his dad and mom, and FTX. Regardless of having cash and status, they have been keen to danger all of it for much more cash and status! To facilitate the misappropriation of funds after stellar careers in academia is nuts!
Take heed to all the company converse you need from AI leaders selling a “innocent know-how” for the better good. There can be constructive advantages from AI for positive.
Nevertheless, there will even be loads of negatives as nicely, together with huge disinformation, fraud, and hundreds of thousands of job losses. ChatGPT and Claude.ai already scrapes the web for information 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 children and a non-working partner going to do? Settle for actuality and adapt!
There is no means I can beat AI. Because of this, I have to both work in AI or put money into AI corporations decided to wipe me and my household off the map.
As I discussed earlier, getting a profitable AI job goes to be troublesome. Everybody desires one. However investing in non-public AI corporations 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 numerous non-public enterprise capital and enterprise debt funds which make investments components of their portfolios in AI corporations.
I plan to allocate one other $500,000 in enterprise capital funds that put money into AI corporations over the following three to 5 years. If AI revolutionizes the world, then my investments will possible repay. If AI seems to be overhyped, then my kids will possible nonetheless land good jobs.
A Guardian’s Worry Is The Best Motivator
Certainly one of a mother or father’s worst fears is spending 18 years educating their kids, then spending a small fortune sending them to school, then ending up with despondent grownup kids who cannot get jobs of their fields of research.
This concern is likely one of the the explanation why I am reluctant to encourage anyone to pay full retail for school. Going to a public school or community college is the way in which to go! Lower cost equals much less chance for disappointment.
With AI, sadly, I feel extra highschool and school graduates will discover themselves underemployed and disillusioned sooner or later.
By pondering 15-20 years forward for my 3 and 6-year-olds, I can higher hedge against potential career disappointments. If they cannot get related jobs that present goal, I am going to pull them apart someday and share a model of this be aware.
A Dialog To My Grownup Youngsters
I want life wasn’t so merciless. You studied your hardest at school and did your greatest over the previous three years to discover a job in your area. I am so pleased with you since you tried!
Despite the fact that issues won’t have turned out as you deliberate, your mother and I are right here for you. Do not quit! Good issues are but to return.
We have now a shock for you. In 2023, your previous man acknowledged the long run and invested accordingly. Listed below are the proceeds from numerous AI investments we made.
You are a grown grownup now. Be at liberty to make use of the funds to pursue what you actually need to do. Do not forget to return go to someday OK?
We love you,
Mother and Dad
So there you’ve got it people. There’s an excessive amount of pleasure, concern, and AI occurring to depart San Francisco. Perhaps in our 50s will we lastly transfer to Honolulu. However not now. There’s simply an excessive amount of occurring.
Anyone dwell in San Francisco and discover it troublesome to depart? Are you frightened about synthetic intelligence taking away jobs to your kids as nicely? Apart from working in AI and investing in AI, what else can we do to guard our monetary futures?
Why accomplish that many individuals who do not dwell in San Francisco hate San Francisco a lot?
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