Why It is So Onerous To Depart San Francisco: Pleasure, Worry, AI

I have been attempting to depart San Francisco since 2014. After faux 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, but it surely’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 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 youngster, so we determined to remain for continuity. As first-time mother and father, familiarity was vital.
  • 2019: Had our second youngster, and in addition determined to remain for continuity. There’s a whole lot of consolation in realizing your docs when you have got 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 shifting.
  • 2021: Son received right into a Mandarin immersion faculty that had initially rejected him. He is loved his expertise to date, so it is arduous to tug him out and place him in a brand new faculty.
  • 4Q 2023: A chance to buy a dream residence at a extra inexpensive value, so we did.
  • Fall 2024: The potential of going again 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 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I imagined fixing up my grandparents’ outdated farmhouse in Waianae and consuming off the land. After breakfast, we would go to the seaside to boogie board or surf. Then we would come residence, eat some poké, and take a nap. Then we would go for a late afternoon hike.

Though we would lose all standing and status, we would be mentally and bodily more healthy and happier! Not a foul commerce over simply earning profits. Alas, we had children, that are a blessing.

After getting a household, inertia makes it very arduous to relocate. Your home, faculty, pals, community, and healthcare suppliers all maintain you stationary.

Why I Love San Francisco

In addition to 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 record of the highest 5 greatest cities on this planet.

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 in case 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.
  • Improbable universities equivalent to Berkeley, Stanford, UCSF, Santa Clara, and many others
  • All the time a prime three culinary metropolis in America
  • Bountiful job and consulting alternatives that pay nicely
  • Some of the numerous cities on this planet
  • One of many least expensive worldwide cities on this planet
  • Tons of leisure, like tennis tournaments, entertainers, and artwork exhibits come right here

Why I Dislike San Francisco

In fact, 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 price of dwelling
  • Intense hustle tradition in some industries
  • Forms in terms of getting issues finished

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 always 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 spotted most not too long ago is that pleasure is among the major 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 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 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 arduous to depart San Francisco when you realize 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 cause. After Atman’s firing, there was an enormous outcry of help 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, the whole OpenAI debacle feels just like the present on hyperspeed. Thrilling and interesting to look at!

As soon as once more, the whole tech world is concentrated on what the heck is happening in San Francisco with the most important synthetic intelligence firm on this planet.

For a fast overview of what is going on on at OpenAI, the maker of ChatGPT:

  1. Altman clashed with the board on the route of the corporate (e.g. earnings vs. non-profit, AI security, pace of improvement of know-how, Altman wanting to start out one other firm, and many others)
  2. Energy wrestle between Altman and Ilya Sutskever, OpenAI co-founder and chief scientist
  3. 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. 
  4. Microsoft’s CEO Satya Nadella discovered concerning 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.
  5. 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.
  6. 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.
  7. Altman is becoming a member of Microsoft to guide a brand new AI mission. Working for large tech looks as if a disappointment for Altman.

In the event 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 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 have 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 on your firm or fund, beginning a enterprise, and extra. In the event you’re a useful and comparatively good individual, you’re going to get farther forward than those that aren’t.

Onerous To Get Again In

In the event you depart San Francisco, like many did in the course of 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 will probably be scooped up by one other household and never be out there 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 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. Nonetheless, this time, the stakes could also be even larger as a result of AI may remove my kids’s jobs in addition to yours.

Worry Retains Me In San Francisco

With Internet 1.0 and a couple of.0 corporations, there was a higher chance of getting wealthy by becoming a member of these corporations or investing in them after they went public.

However with synthetic intelligence, there looks as if much less alternative given fewer individuals 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 Sport 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!

I am at all times pondering 10+ years forward as a result of you must 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

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.

Another current instance is Sam Bankman-Fried, his mother and father, and FTX. Regardless of having cash and status, they have been prepared to threat 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 converse you need from AI leaders selling a “innocent know-how” for the higher good. There will probably be optimistic advantages from AI for certain.

Nonetheless, there may also be loads of 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.

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 method I can beat AI. In consequence, 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 varied non-public enterprise capital and enterprise debt funds which make investments elements 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 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 Father or mother’s Worry Is The Best Motivator

One in all a mother or father’s worst 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 concern is among the the explanation why I am reluctant to encourage anyone to pay full retail for school. Going to a public school or group school is the way in which to go! Cheaper price 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 in opposition to potential profession disappointments. If they cannot get related jobs that present objective, I will pull them apart in the future and share a model of this notice.

A Dialog To My Grownup Youngsters

“Pricey Son/Daughter,

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 discipline. I am so happy with you since you tried!

Though issues may not have turned out as you deliberate, your mother and I are right here for you. Do not hand over! Good issues are but to come back.

We now have a shock for you. In 2023, your outdated man acknowledged the long run and invested accordingly. Listed below are the proceeds from varied 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 come back go to someday OK?

We love you,

Mother and Dad

So there you have got it of us. There’s an excessive amount of pleasure, concern, and AI happening to depart San Francisco. Perhaps in our 50s will we lastly transfer to Honolulu. However not now. There’s simply an excessive amount of happening.

Reader Questions

Anyone dwell in San Francisco and discover it troublesome to depart? Are you fearful 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?

Why accomplish that many individuals who do not dwell in San Francisco hate San Francisco a lot?

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