I have been making an attempt to depart San Francisco since 2014. After pretend retiring in 2012, I assumed it was solely logical to maneuver to a lower-cost space of the nation, like Honolulu, to economize and be nearer to my people.
Sure, Honolulu is not low cost, nevertheless it’s cheaper than San Francisco! Nevertheless, each time I attempt to go away, San Francisco pulls me again in.
Listed here are some the reason why:
- 2014: Discovered an ocean-view dwelling in San Francisco for reasonable, so I purchased it as a substitute of shopping for a way more costly ocean-view dwelling in Honolulu.
- 2017: Had our first little one, so we determined to remain for continuity. As first-time mother and father, we had sufficient stress.
- 2019: Had our second little one. There’s loads of consolation in understanding your docs when you could have 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.
- 2021: Son obtained right into a Mandarin immersion college. He is loved his expertise up to now, so it is exhausting to drag him out and place him in a brand new college.
- 4Q 2023: A possibility to buy a dream dwelling at a extra reasonably priced worth, so we did.
- Fall 2024: The potential of going again to work full-time as soon as each children 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 Tough
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 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 dwelling, 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 nasty commerce over simply earning profits. Alas, we had children, that are a blessing.
After you have a household, inertia makes it very exhausting to relocate. Your own home, college, mates, community, and healthcare suppliers all preserve you stationary.
Why I Love San Francisco
In addition to America, I’ve lived between 6 months and 4 years in six different nations. I’ve additionally visited over 150 cities worldwide. San Francisco is on my record of the highest 5 finest cities on the earth.
Listed here are the the reason why:
- The climate is gentle year-round, which is nice for exercising outside.
- The town and the encircling area are stunning, 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.
- Incredible universities equivalent to Berkeley, Stanford, UCSF, Santa Clara, and many others
- At all times a prime three culinary metropolis in America
- Bountiful job and consulting alternatives that pay nicely
- Probably the most numerous cities on the earth
- One of many least expensive 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 here are some the reason why I dislike San Francisco:
- Some corrupt metropolis officers
- Authorities waste
- Crime and homelessness
- Excessive value of dwelling
- Intense hustle tradition in some industries
- Paperwork in relation to getting issues accomplished
However the actuality is, each single metropolis has these bullet factors to varied levels. The one factor I really like about Honolulu over San Francisco is the shortage of hustle tradition. As soon as you have 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 occasions earlier than. However what I spotted most not too long ago is that pleasure is likely one of the principal the reason 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 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 here are some pictures of who got here to San Francisco for APEC.
Not solely had been world political leaders on the town however so had 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 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 exhausting to depart San Francisco when you recognize many individuals need to stay 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 assist from the VC and tech group. Greg Brockton, the President stop, together with a number of senior researchers. Consequently, the board is underneath immense strain to resign and reinstate Altman as CEO.
When you’ve watched Succession on HBO, your complete OpenAI debacle feels just like the present on hyperspeed. Thrilling and engaging to look at!
As soon as once more, your complete tech world is concentrated on what the heck is happening in San Francisco with the biggest 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. earnings vs. non-profit, AI security, pace of growth of know-how, Altman wanting to begin one other firm, and many others)
- 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 position as president.
- Microsoft’s CEO Satya Nadella discovered in regards to the board’s resolution identical to the remainder of us on Twitter, regardless of having invested over $10 billion in OpenAI. Apparently, regardless of the funding quantity, Microsoft does not have a board seat.
- OpenAI workers had been on the cusp of having the ability to promote their shares at a staggering $86 billion valuation. However now that valuation quantity is trying suspect. OpenAI’s board could have torched tens of billions in shareholder worth.
- Now OpenAI’s board is underneath 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.
- Altman is becoming a member of Microsoft to steer a brand new AI undertaking. Working for large tech looks as if a disappointment for Altman, however a win for Microsoft to manage extra items and get an in-house AI know-how.
When you’ve lived in San Francisco since 2001, as I’ve, you inevitably will know individuals concerned on this drama. How may you allow? The awkwardness goes to be wonderful through the subsequent board assembly!
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 proper place on the proper time. When you possibly can simply meet decision-makers in individual, 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 children into college, elevating cash on your firm or fund, beginning a enterprise, and extra. When you’re a useful and comparatively good individual, you’ll get farther forward than those that aren’t.
Arduous To Get Again In As soon as You Depart San Francisco
When you go away San Francisco, like many did through the pandemic, there is a concern you would possibly by no means have the ability to get again in.
The job you vacated may have been taken by a hungry colleague. Your community will overlook about you as soon as you allow. And the prime property you owned will likely be scooped up by one other household and never be accessible for the subsequent 30 years!
I’ve lived in San Francisco since 2001 as a result of I felt the tech/web growth was right here to remain. Sure, the dotcom bubble had burst in March 2000, however the groundwork was laid for Internet 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 may afford. Picks and shovels for many 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 may get rid of my kids’s jobs in addition to yours.
Worry Retains Me In San Francisco
With Internet 1.0 and a pair of.0 firms, there was a larger 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 as if much less alternative given fewer persons are wanted to scale. These personal AI firms are staying personal for longer, shutting out public traders. 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 performing as a loyal soldier of the Night time’s Watch within the Sport of Thrones. The White Walkers are coming to destroy us, it is solely a matter of time when. However once they do, I need to be right here to defend my household!
AI is just like the Night time King
I am at all times pondering 10+ years forward as a result of it’s important to if you wish to successfully plan on 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 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. Regardless of how wealthy you already are, you possibly can’t assist however need extra money, extra energy, and extra fame.
Hearken to all the company converse you need from AI leaders selling a “innocent know-how” for the larger good of humanity. There will likely be optimistic advantages from AI for positive. Nevertheless, there can even be negatives as nicely, together with huge disinformation, fraud, and thousands and 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. But, AI people say this is not stealing. No surprise why Medium is obstructing all AI crawlers from its content material.
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 isn’t any method I can beat AI. Consequently, I have to both work in AI or spend money on AI firms decided to wipe my type off the map.
Getting a profitable AI job goes to be tough. Everybody desires one. However investing in personal 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 numerous personal 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 spend money on AI firms over the subsequent three to 5 years.
If AI revolutionizes the world, then my investments will probably repay. If AI seems to be overhyped, then my kids will probably nonetheless land good jobs.
A Mother or father’s Worry Is The Biggest Motivator
One in every of a mum or dad’s 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 reason why I am reluctant to encourage anyone to pay full retail for faculty. Going to a public school or group school is the best way to go! Lower cost equals much less risk for disappointment.
With AI, sadly, I believe extra highschool and school graduates will discover themselves underemployed and disillusioned sooner or later.
By pondering 20+ years forward for my 3 and 6-year-olds, I can higher hedge in opposition to potential profession disappointments. If they can not get related jobs that present goal, I am going to pull them apart sooner or later and share a model of this notice.
A Dialog To My Grownup Youngsters
“Expensive Son/Daughter,
I want life wasn’t so merciless. You studied your hardest in class and did your finest over the previous 5 years to discover a job in your discipline. I am so happy with you since you tried!
Despite the fact that issues may not have turned out as you deliberate, your mother and I are right here for you. Do not surrender! Good issues are but to return.
We have now a shock for you. In 2023, your previous man acknowledged the longer term and invested accordingly. Listed here 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. Remember to return go to someday OK?
We love you,
Mother and Dad
So there you could have it people. There’s an excessive amount of pleasure, concern, and AI occurring to depart San Francisco. Possibly in our 50s will we lastly transfer to Honolulu. However not now. We have to shield our youngsters’s futures.
Reader Questions
Anyone stay in San Francisco and discover it tough to depart? Are you anxious about synthetic intelligence taking away jobs on your kids as nicely? In addition to working in AI and investing in AI, what else can we do to guard our monetary futures?
In addition to politics and never having the ability to afford to stay on San Francisco, why else do some individuals who do not stay in San Francisco hate San Francisco a lot?
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