Wednesday, November 29, 2023

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

I have been making an attempt to go away San Francisco since 2014. After faux 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, but it surely’s cheaper than San Francisco! Nonetheless, each time I attempt to go away, San Francisco pulls me again in.

Listed below are some the explanation 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 baby, so we determined to remain for continuity. As first-time dad and mom, we had sufficient stress.
  • 2019: Had our second baby. There’s lots of consolation in realizing your medical doctors when you could have 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.
  • 2021: Son bought right into a Mandarin immersion faculty. He is loved his expertise thus far, so it is exhausting to drag him out and place him in a brand new faculty.
  • 4Q 2023: A possibility to buy a dream dwelling at a extra inexpensive worth, so we did.
  • Fall 2024: The potential of going again to work full-time as soon as each youngsters 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 youngsters, I am positive my spouse and I might have relocated to Honolulu years in the past. We longed to reside a less complicated 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I imagined fixing up my grandparents’ outdated farmhouse in Waianae and consuming off the land.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 dwelling, eat some poké, and take a nap. Then we’d 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 nasty commerce over simply being profitable. Alas, we had youngsters, that are a blessing.

After you have a household, inertia makes it very exhausting to relocate. Your home, faculty, buddies, community, and healthcare suppliers all hold you stationary.

Why I Love San Francisco

Moreover America, I’ve lived between 6 months and 4 years in six different international locations. I’ve additionally visited over 150 cities worldwide. San Francisco is on my record of the highest 5 finest cities on this planet.

Listed below are the the explanation why:

  • The climate is delicate year-round, which is nice for exercising open air.
  • The town and the encompassing area are lovely, particularly for those who 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.
  • Implausible universities similar to Berkeley, Stanford, UCSF, Santa Clara, and so on
  • At all times a high three culinary metropolis in America
  • Bountiful job and consulting alternatives that pay effectively
  • One of the various 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

After all, 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 value of residing
  • 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 numerous levels. The one factor I like about Honolulu over San Francisco is the shortage of hustle tradition. As soon as you’ve got left an intense profession, you will not wish 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 occasions earlier than. However what I spotted most lately is that pleasure is likely one of the principal 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 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 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 had been world political leaders on the town however so had been high 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 reside within the metropolis.

It is exhausting to go away San Francisco when you realize many individuals wish to reside 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 neighborhood. Greg Brockton, the President give up, together with a number of senior researchers. In consequence, the board is below immense strain to resign and reinstate Altman as CEO.

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

As soon as once more, your entire tech world is concentrated on what the heck is occurring in San Francisco with the biggest 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 path of the corporate (e.g. income vs. non-profit, AI security, velocity of growth of expertise, Altman wanting to begin one other firm, and so on)
  2. Energy battle between Altman and Ilya Sutskever, OpenAI co-founder and chief scientist
  3. 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. 
  4. 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.
  5. 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.
  6. Now OpenAI’s board is below 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.
  7. Altman is becoming a member of Microsoft to guide a brand new AI venture. Working for giant tech looks as if a disappointment for Altman, however a win for Microsoft to manage extra items and get an in-house AI expertise.

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 proper place on the proper time. When you’ll be able to simply meet decision-makers in particular person, 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 youngsters into faculty, elevating cash to your firm or fund, beginning a enterprise, and extra. In the event you’re a useful and comparatively good particular person, you’re going to get farther forward than those that aren’t.

Onerous To Get Again In As soon as You Depart San Francisco

In the event you go away San Francisco, like many did through the pandemic, there is a worry you would possibly by no means be capable to get again in.

The job you vacated could have been taken by a hungry colleague. Your community will neglect 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 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 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 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 eradicate my youngsters’s jobs in addition to yours.

Concern Retains Me In San Francisco

With Net 1.0 and a couple of.0 firms, there was a larger chance 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 individuals are wanted to scale. These non-public AI firms 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!

I am at all times pondering 10+ years forward as a result of it’s a must 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 In AI

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.


It doesn’t matter what the OpenAI leaders say, the explanation why the corporate grew to become 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, and extra fame.

Take heed to all the company converse you need from AI leaders selling a “innocent expertise” for the larger good of humanity. There will likely be constructive advantages from AI for positive. Nonetheless, there will even be negatives as effectively, together with large disinformation, fraud, and hundreds of thousands of job losses.

ChatGPT and 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 youngsters and a non-working partner going to do? Settle for actuality and adapt!

There is not any approach I can beat AI. In consequence, I have to both work in AI or spend money on AI firms decided to wipe my variety off the map.

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 varied non-public 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 seemingly repay. If AI seems to be overhyped, then my youngsters will seemingly nonetheless land good jobs.

A Mum or dad’s Concern Is The Biggest Motivator

Considered one of a mother or father’s fears is spending 18 years educating their youngsters, then spending a small fortune sending them to varsity, then ending up with despondent grownup youngsters who cannot get jobs of their fields of examine.

This worry is likely one of the the explanation why I am reluctant to encourage anyone to pay full retail for school. Going to a public faculty or neighborhood faculty is the way in which to go! Lower cost equals much less chance for disappointment.

With AI, sadly, I believe 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 in opposition to potential profession disappointments. If they cannot get related jobs that present objective, I am going to pull them apart sooner or later 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 finest over the previous 5 years to discover a job in your area. I am so pleased with you since you tried!

Although issues won’t have turned out as you deliberate, your mother and I are right here for you. Do not surrender! Good issues are but to come back.

Now we have a shock for you. In 2023, your outdated man acknowledged the longer term and invested accordingly. Listed below 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. Do not forget to come back go to someday OK?

We love you,

Mother and Dad

So there you could have it people. 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. We have to defend our youngsters’s futures.

Reader Questions

Anyone reside in San Francisco and discover it tough to go away? Are you nervous about synthetic intelligence taking away jobs to your youngsters as effectively? Moreover working in AI and investing in AI, what else can we do to guard our monetary futures?

Moreover politics and never having the ability to afford to reside on San Francisco, why else achieve this some individuals who do not reside in San Francisco hate San Francisco a lot?

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