I have been attempting to go away 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 of us.
Sure, Honolulu is not low-cost, however it’s cheaper than San Francisco! Nonetheless, each time I attempt to depart, San Francisco pulls me again in.
Listed below are some the explanation why:
- 2014: Discovered an ocean-view house in San Francisco for affordable, so I purchased it as an alternative of shopping for a way more costly ocean-view house in Honolulu. I by no means realized there have been ocean-view houses right here till I began to look.
- 2017: Had our first youngster, so we determined to remain for continuity. As first-time dad and mom, familiarity was necessary.
- 2019: Had our second youngster, and in addition determined to remain for continuity. There’s quite a lot of consolation in understanding your medical doctors when you’ve gotten 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. Staying in San Francisco was a simple resolution, which did not require transferring.
- 2021: Son acquired right into a Mandarin immersion faculty that had initially rejected him. He is loved his expertise to date, so it is arduous to drag him out and place him in a brand new faculty.
- 4Q 2023: A possibility to buy a dream house at a extra reasonably priced value, so we did.
- Fall 2024: The opportunity 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 Tough
If we did not have children, I am certain my spouse and I might have relocated to Honolulu years in the past. We longed to reside an easier life close to the ocean in year-round heat climate. We had sufficient cash to reside comfortably, however not extravagantly.
I imagined fixing up my grandparents’ previous farmhouse in Waianae and consuming off the land. After breakfast, we would go to the seashore to boogie board or surf. Then we would come house, eat some poké, and take a nap. Then we’d go for a late afternoon hike.
Though we would lose all status and prestige, we would be mentally and bodily more healthy and happier! Not a foul commerce over simply earning money. Alas, we had children, that are a blessing.
After you have a household, inertia makes it very arduous to relocate. Your own home, faculty, mates, community, and healthcare suppliers all hold 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 checklist of the highest 5 greatest cities on the planet.
Listed below are the the explanation 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 reside 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 akin 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
- Some of the numerous cities on the planet
- 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 completed
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 shortage of hustle tradition. As soon as you have left an intense profession, you will not need to be continually surrounded by go-getters.
Pleasure Is What Retains Me In San Francisco
I’ve gone by way of the professionals and cons of San Francisco many occasions earlier than. However what I noticed most just lately is that pleasure is without doubt one of the predominant 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 occurring. Let me share a few examples.
1) APEC Comes To San Francisco
San Francisco just lately 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 that 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 targeted on San Francisco for 2 weeks. The highlight brings in additional curiosity, extra investments, extra jobs, and extra demand to go to and reside within the metropolis.
It is arduous to go away San Francisco when you already know many individuals need to reside 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 help from the VC and tech group. Greg Brockton, the President give up, together with a number of senior researchers. Consequently, the board is beneath 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 interesting to watch!
As soon as once more, your complete tech world is targeted on what the heck is occurring in San Francisco with the biggest artificial intelligence firm on the planet.
For a fast overview of what is going on on at OpenAI, the maker of ChatGPT:
- Altman clashed with the board on the route 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 many others)
- Energy battle between Altman and Ilya Sutskever, OpenAI co-founder and chief scientist
- In a coup by Sutskever, on a Google Meet, “Ilya informed Sam he was being fired and that the information was going out very quickly.” Shortly after, Brockman was informed 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 similar to the remainder of us on Twitter, regardless of having invested over $10 billion in OpenAI. Apparently, 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 could 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.
When you’ve lived in San Francisco since 2001, as I’ve, you inevitably will know individuals concerned on this drama. How may 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 precise place on the proper time. When you possibly can simply meet decision-makers in particular person, it is a lot simpler to construct relationships. And when you’ve gotten 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. When you’re a useful and comparatively good particular person, you’ll get farther forward than those that aren’t.
Onerous To Get Again In
When you depart San Francisco, like many did through the pandemic, there is a worry you would possibly by no means be capable of get again in.
The job you vacated may have been taken by one other hungry colleague. Your community will overlook about you as soon as you permit. And the prime property you owned will likely be scooped up by one other household and never be obtainable for the subsequent 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 may 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 greater as a result of AI may get rid of my kids’s jobs in addition to yours.
Concern Retains Me In San Francisco
With Net 1.0 and a pair of.0 firms, there was a better risk of getting wealthy by becoming a member of these firms or investing in them after they went public.
However with artificial intelligence, there looks as if 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 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 you must 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 value $86 billion and largely owned by Microsoft. Huh?
It doesn’t matter what the OpenAI leaders say, the rationale 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 possibly can’t assist however need extra money, extra energy, extra fame.
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!
Hearken to all the company communicate you need from AI leaders selling a “innocent expertise” for the better good. There will likely be optimistic advantages from AI for certain.
Nonetheless, 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 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 children and a non-working partner going to do? Settle for actuality and adapt!
There is not any method I can beat AI. Consequently, I must both work in AI or spend money on AI firms decided to wipe me and my household off the map.
As I discussed earlier, 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 numerous non-public enterprise capital and enterprise debt funds which make investments elements of their portfolios in AI firms.
I plan to allocate 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 seemingly repay. If AI seems to be overhyped, then my kids will seemingly nonetheless land good jobs.
A Guardian’s Concern Is The Best Motivator
Considered one of a dad or mum’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 worry is without doubt one of the the explanation why I am reluctant to encourage anyone to pay full retail for faculty. Going to a public school or community college is the way in which to go! Cheaper price 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 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 objective, I will pull them apart in the future and share a model of this observe.
A Dialog To My Grownup Children
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 subject. 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 hand over! Good issues are but to return.
We’ve a shock for you. In 2023, your previous man acknowledged the longer term 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 gotten it of us. There’s an excessive amount of pleasure, worry, and AI occurring to go away San Francisco. Possibly in our 50s will we lastly transfer to Honolulu. However not now. There’s simply an excessive amount of occurring.
Anyone reside in San Francisco and discover it tough to go away? Are you fearful 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 reside in San Francisco hate San Francisco a lot?
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