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Thursday, December 7, 2023

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

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I have been attempting 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 save cash 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 explanation why:

  • 2014: Discovered an ocean-view residence in San Francisco for reasonable, so I purchased it as a substitute of shopping for a way more costly ocean-view residence 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 quite a lot 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.
  • 2021: Son obtained right into a Mandarin immersion college. He is loved his expertise up to now, so it is laborious 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 worth, 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 certain my spouse and I’d have relocated to Honolulu years in the past. We longed to stay a less complicated 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 creating wealth. Alas, we had youngsters, that are a blessing.

Upon getting a household, inertia makes it very laborious to relocate. Your own home, college, pals, community, and healthcare suppliers all preserve you stationary.

Why I Love San Francisco

Moreover 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 explanation why:

  • The climate is gentle year-round, which is nice for exercising outdoor.
  • The town and the encompassing area are stunning, particularly when 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 corresponding 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 effectively
  • One of the vital 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 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
  • Paperwork in the case of 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 wish to be continuously surrounded by go-getters.

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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 noticed most lately is that pleasure is without doubt one of the major 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 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 here 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 effectively.

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 laborious to depart 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 cause. After Atman’s firing, there was an enormous outcry of assist from the VC and tech neighborhood. Greg Brockton, the President give up, together with a number of senior researchers. Consequently, the board is below immense stress to resign and reinstate Altman as CEO.

Should you’ve watched Succession on HBO, the complete OpenAI debacle feels just like the present on hyperspeed. Thrilling and interesting to look at!

As soon as once more, the complete tech world is targeted 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:

  1. Altman clashed with the board on the path of the corporate (e.g. earnings vs. non-profit, AI security, pace of growth of expertise, 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 came upon concerning the board’s choice identical 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.
  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 trying suspect. OpenAI’s board might have torched tens of billions in shareholder worth.
  6. Now OpenAI’s board is below 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 steer a brand new AI undertaking. Working for large tech looks like a disappointment for Altman, however a win for Microsoft to manage extra items and get an in-house AI expertise.

Should you’ve lived in San Francisco since 2001, as I’ve, you inevitably will know folks concerned on this drama. How might you allow? The awkwardness goes to be superb through the subsequent board assembly!

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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 suitable 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’ve got good relationships, life will get simpler.

I am speaking about getting a job or a consulting gig, getting your youngsters into college, elevating cash on your firm or fund, beginning a enterprise, and extra. Should 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 As soon as You Depart San Francisco

Should you go away San Francisco, like many did through the pandemic, there is a concern you may by no means be capable to get again in.

The job you vacated can have been taken by a hungry colleague. Your community will neglect about you as soon as you allow. And the prime property you owned shall be scooped up by one other household and never be out there for the subsequent 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 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 increased as a result of AI might eradicate my kids’s jobs in addition to yours.

Worry Retains Me In San Francisco

With Net 1.0 and a pair of.0 corporations, there was a larger 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 like much less alternative given fewer persons are wanted to scale. These non-public AI corporations are staying non-public 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 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 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 Earnings 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.


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 more cash, extra energy, and extra fame.

Hearken to all the company converse you need from AI leaders selling a “innocent expertise” for the larger good of humanity. There shall be optimistic advantages from AI for certain. Nevertheless, there will even be negatives as effectively, together with large disinformation, fraud, and thousands and 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. But, AI people say this is not stealing. No marvel why Medium is obstructing all AI crawlers from its content material.

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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 approach I can beat AI. Consequently, I must both work in AI or put money into AI corporations decided to wipe my sort off the map.

Getting a profitable AI job goes to be tough. 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 take a position 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 possible repay. If AI seems to be overhyped, then my kids will possible nonetheless land good jobs.

A Dad or mum’s Worry Is The Biggest Motivator

One in all a guardian’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 without doubt one of the explanation why I am reluctant to encourage anyone to pay full retail for faculty. Going to a public faculty or neighborhood faculty is the best way to go! Cheaper price equals much less chance for disappointment.

With AI, sadly, I feel extra highschool and faculty 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 towards potential profession disappointments. If they cannot get related jobs that present function, I will pull them apart at some point and share a model of this observe.

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 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 quit! 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 here 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 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. We have to defend our kids’s futures.

Reader Questions

Anyone stay in San Francisco and discover it tough to depart? Are you nervous about synthetic intelligence taking away jobs on your kids as effectively? 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 do some individuals who do not stay in San Francisco hate San Francisco a lot?

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