I have been attempting to go away San Francisco since 2014. After pretend 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! Heowever, 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 affordable, 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 dad and mom, we had sufficient stress.
- 2019: Had our second little one. There’s lots of consolation in realizing your docs when you’ve 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.
- 2021: Son received right into a Mandarin immersion faculty. He is loved his expertise to this point, so it is exhausting to tug him out and place him in a brand new faculty.
- 4Q 2023: A possibility to buy a dream residence at a extra inexpensive worth, so we did.
- Fall 2024: The opportunity 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 Troublesome
If we did not have children, I am certain my spouse and I’d have relocated to Honolulu years in the past. We longed to dwell a less complicated 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’ previous 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’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 foul commerce over simply earning money. Alas, we had children, that are a blessing.
Upon getting a household, inertia makes it very exhausting to relocate. Your own home, faculty, pals, community, and healthcare suppliers all hold you stationary.
Why I Love San Francisco
Apart from 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 the planet.
Listed here are the explanation why:
- The climate is delicate year-round, which is nice for exercising open air.
- The town and the encompassing area are stunning, particularly when 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 resembling 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 effectively
- One of the numerous cities on the planet
- One of many most cost-effective worldwide cities on the 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 here are some explanation 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 relating to getting issues carried out
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 dearth of hustle tradition. As soon as you have 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 means of the professionals and cons of San Francisco many instances earlier than. However what I noticed most not too long ago is that pleasure is likely one of the principal 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 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 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 pictures 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 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 exhausting to go away San Francisco when you realize many individuals wish 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 assist from the VC and tech neighborhood. Greg Brockton, the President give up, together with a number of senior researchers. Because of this, the board is underneath immense strain to resign and reinstate Altman as CEO.
Should 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 targeted on what the heck is occurring in San Francisco with the biggest synthetic 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 course of the corporate (e.g. income vs. non-profit, AI security, pace of improvement of expertise, Altman wanting to start out 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 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 came upon concerning the board’s resolution identical to the remainder of us on Twitter, regardless of having invested over $10 billion in OpenAI. Curiously, regardless of the funding quantity, Microsoft would not have a board seat.
- OpenAI workers have 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 interim CEO.
- Altman is becoming a member of Microsoft to guide a brand new AI undertaking. Working for large tech looks as if a disappointment for Altman, however a win for Microsoft to regulate extra items and get an in-house AI expertise. Altman may return to OpenAI, however provided that the board is modified.
- As of December 14, Altman and Brockman returned to OpenAI and Bret Taylor and Larry Summer time have joined the board.
Should 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 in the course of 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 fitting 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’ve 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 in 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.
Laborious To Get Again In As soon as You Go away San Francisco
Should you go away 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 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 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 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 greater as a result of AI may eradicate my kids’s jobs in addition to yours.
Concern Retains Me In San Francisco
With Internet 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 persons 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 once 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 considering 10+ years forward as a result of you need to if you wish to successfully plan in 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 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, homeowners, 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 shall be optimistic advantages from AI for certain, resembling medical analysis and breakthroughs. Nevertheless, there may also be negatives as effectively, together with large disinformation, fraud, and hundreds of 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 of us say this is not stealing. No marvel 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 stay-at-home partner going to do? Settle for actuality and adapt!
There is no method I can beat AI. Because of this, I must 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 numerous non-public enterprise capital and enterprise debt funds which make investments components of their portfolios in AI firms.
I plan to take a position 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 Mum or dad’s Concern Is The Biggest Motivator
Certainly one of a dad or mum’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 explanation why I am reluctant to encourage anyone to pay full retail for school. 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 considering 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 objective, I will pull them apart in the future and share a model of this word.
This is my newest dialog with Ben Miller, CEO and Co-Founding father of Fundrise about investing in AI together with his Innovation Fund.
A Dialog To My Grownup Youngsters
“Pricey Son/Daughter,
We 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 area. We’re so pleased with you since you tried!
Regardless 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 come back.
We’ve 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 wish to do. Remember to come back go to someday OK?
We love you,
Mother and Dad
So there you’ve got it of us. There’s an excessive amount of pleasure, concern, and AI occurring to go away 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 dwell in San Francisco and discover it tough to go away? Are you fearful about synthetic intelligence taking away jobs in your kids as effectively? Apart from working in AI and investing in AI, what else can we do to guard our monetary futures?
Apart from politics and never having the ability to afford to dwell on San Francisco, why else do some individuals who do not dwell in San Francisco hate San Francisco a lot?
A Manner To Make investments In Synthetic Intelligence
Along with investing in public firms like Microsoft, Nvidia, Snowflake, to achieve AI publicity, you must also look to spend money on non-public AI firms as effectively. Try the Innovation Fund, which invests within the following 5 sectors:
- Synthetic Intelligence & Machine Studying
- Trendy Knowledge Infrastructure
- Improvement Operations (DevOps)
- Monetary Know-how (FinTech)
- Actual Property & Property Know-how (PropTech)
Roughly 35% of the Innovation Fund is invested in synthetic intelligence. In 20 years, I do not need my children questioning why I did not spend money on AI or work in AI!
You possibly can see what the Innovation Fund is holding earlier than deciding to take a position and the way a lot. The minimal is $10. Conventional enterprise capital funds require capital dedication first after which hope the final companions will discover nice investments.
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