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Tuesday, February 20, 2024

Why It is So Laborious To Go away San Francisco: Pleasure, Concern, AI


I have been making an attempt 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 people.

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 here are some explanation why:

  • 2014: Discovered an ocean-view house in San Francisco for affordable, so I purchased it as a substitute of shopping for a way more costly ocean-view house in Honolulu.
  • 2017: Had our first youngster, so we determined to remain for continuity. As first-time mother and father, we had sufficient stress.
  • 2019: Had our second youngster. There’s numerous consolation in figuring out your docs when you might 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 received right into a Mandarin immersion college. He is loved his expertise thus far, so it is arduous to drag him out and place him in a brand new college.
  • 4Q 2023: A possibility to buy a dream house 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 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 children, I am positive my spouse and I might have relocated to Honolulu years in the past. We longed to stay an easier 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I imagined fixing up my grandparents’ outdated farmhouse in Waianae and consuming off the land. After breakfast, we might go to the seashore to boogie board or surf. Then we might come house, 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 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, college, pals, community, and healthcare suppliers all maintain 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 checklist of the highest 5 greatest cities on this planet.

Listed here are the explanation why:

  • The climate is gentle year-round, which is nice for exercising outside.
  • The town and the encompassing area are stunning, particularly in case 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.
  • Implausible universities resembling 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 nicely
  • One of the vital numerous cities on this planet
  • One of many most cost-effective 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 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
  • Forms in relation to getting issues performed

However the actuality is, each single metropolis has these bullet factors to varied levels. The one factor I like about Honolulu over San Francisco is the dearth of hustle tradition. As soon as you’ve got 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 via the professionals and cons of San Francisco many occasions earlier than. However what I noticed most not too long ago is that pleasure is without doubt one of the most important 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 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 here 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 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 stay within the metropolis.

It is arduous to depart San Francisco when you realize many individuals need to stay 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 assist from the VC and tech group. Greg Brockton, the President stop, together with a number of senior researchers. Consequently, the board is underneath immense strain to resign and reinstate Altman as CEO.

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

As soon as once more, the whole tech world is targeted 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 course of the corporate (e.g. earnings vs. non-profit, AI security, pace of growth of know-how, Altman wanting to start out one other firm, and so on)
  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 advised Sam he was being fired and that the information was going out very quickly.” Shortly after, Brockman was advised he was being faraway from his place as chairman of the board however would maintain on to his function as president. 
  4. Microsoft’s CEO Satya Nadella discovered in regards to 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 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 wanting suspect. OpenAI’s board could have torched tens of billions in shareholder worth.
  6. 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 CEO.
  7. Altman is becoming a member of Microsoft to steer a brand new AI challenge. Working for giant tech looks like a disappointment for Altman, however a win for Microsoft to regulate extra items and get an in-house AI know-how.

Should you’ve lived in San Francisco since 2001, as I’ve, you inevitably will know folks concerned on this drama. How may you permit? 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 precise place on the proper time. When you may simply meet decision-makers in particular person, it is a lot simpler to construct relationships. And when you might have good relationships, life will get simpler.

I am speaking about getting a job or a consulting gig, getting your children into college, elevating cash in your firm or fund, beginning a enterprise, and extra. Should you’re a useful and comparatively good particular person, 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 depart San Francisco, like many did in the course of the pandemic, there is a worry you would possibly by no means be capable to get again in.

The job you vacated may 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 probably 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 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. Nonetheless, 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 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 personal AI corporations are staying personal 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!

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, house owners, and workers.

That is Capitalism 101!

Give it some thought. Irrespective of how wealthy you already are, you may’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 know-how” for the larger good of humanity. There will probably be constructive advantages from AI for positive. Nonetheless, there may even be negatives as nicely, together with large 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. 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 children and a non-working partner going to do? Settle for actuality and adapt!

There isn’t any method I can beat AI. Consequently, I have to both work in AI or spend money on AI corporations decided to wipe my variety off the map.

Getting a profitable AI job goes to be tough. Everybody needs one. However investing in personal 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 personal enterprise capital and enterprise debt funds which make investments components of their portfolios in AI corporations.

I plan to take a position one other $500,000 in enterprise capital funds that spend money on 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 Dad or mum’s Concern Is The Best Motivator

Considered one of 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 examine.

This worry is without doubt one of the explanation why I am reluctant to encourage anyone to pay full retail for school. Going to a public faculty or group faculty is the way in which to go! Lower cost 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 in opposition to potential profession disappointments. If they cannot get related jobs that present goal, I will pull them apart at some point and share a model of this be aware.

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 5 years to discover a job in your subject. I am so pleased with you since you tried!

Although 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 return.

Now we have a shock for you. In 2023, your outdated man acknowledged the long run and invested accordingly. Listed here 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. Do not forget to return go to someday OK?

We love you,

Mother and Dad

So there you might have it people. There’s an excessive amount of pleasure, worry, and AI happening to depart San Francisco. Perhaps in our 50s will we lastly transfer to Honolulu. However not now. We have to defend our youngsters’s futures.

Reader Questions

Anyone stay in San Francisco and discover it tough to depart? Are you nervous about synthetic intelligence taking away jobs in your kids as nicely? 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 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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