Sunday, December 3, 2023

Why It is So Arduous 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! Nevertheless, each time I attempt to go away, San Francisco pulls me again in.

Listed below are some the reason 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. I by no means realized there have been ocean-view houses right here till I began to look.
  • 2017: Had our first little one, so we determined to remain for continuity. As first-time mother and father, familiarity was vital.
  • 2019: Had our second little one, and likewise determined to remain for continuity. There’s a variety of consolation in figuring out your docs 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. Staying in San Francisco was a straightforward choice, which did not require shifting.
  • 2021: Son obtained right into a Mandarin immersion faculty that had initially rejected him. He is loved his expertise to this point, so it is exhausting to drag him out and place him in a brand new faculty.
  • 4Q 2023: A possibility to buy a dream residence at a extra reasonably priced 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 Tough

If we did not have children, I am positive my spouse and I’d 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I imagined fixing up my grandparents’ outdated farmhouse in Waianae and consuming off the land.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’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 getting cash. Alas, we had children, that are a blessing.

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

Why I Love San Francisco

Moreover 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 finest cities on the planet.

Listed below are the the reason why:

  • The climate is gentle year-round, which is nice for exercising outdoor.
  • Town and the encompassing area are stunning, 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.
  • Unbelievable universities akin to Berkeley, Stanford, UCSF, Santa Clara, and so on
  • All the time a prime three culinary metropolis in America
  • Bountiful job and consulting alternatives that pay effectively
  • Some of the numerous cities on the planet
  • One of many least expensive worldwide cities on the 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 reason why I dislike San Francisco:

  • Some corrupt metropolis officers
  • Authorities waste
  • Crime and homelessness
  • Excessive value of dwelling
  • Intense hustle tradition in some industries
  • Forms with regards to getting issues executed

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 have left an intense profession, you will not need to be continually surrounded by go-getters.

Pleasure Is What Retains Me In San Francisco

I’ve gone via 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 principal the reason 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 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 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 dwell within the metropolis.

It is exhausting 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 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.

When you’ve watched Succession on HBO, your entire OpenAI debacle feels just like the present on hyperspeed. Thrilling and engaging 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:

  1. Altman clashed with the board on the path of the corporate (e.g. income vs. non-profit, AI security, velocity of improvement of expertise, Altman wanting to start out 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 function as president. 
  4. Microsoft’s CEO Satya Nadella came upon concerning the board’s choice similar 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 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 steer a brand new AI challenge. Working for giant tech looks like a disappointment for Altman, however a win for Microsoft to manage extra items and get an in-house AI expertise.

When you’ve lived in San Francisco since 2001, as I’ve, you inevitably will know folks concerned on this drama. How might 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 fitting place on the proper time. When you possibly can 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 children into faculty, elevating cash on your firm or fund, beginning a enterprise, and extra. When you’re a useful and comparatively good particular person, you’ll get farther forward than those that aren’t.

Arduous To Get Again In

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

The job you vacated may have been taken by a hungry colleague. Your community will overlook about you as soon as you permit. And the prime property you owned might be scooped up by one other household and never be accessible for the following 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 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 greater as a result of AI might remove my kids’s jobs in addition to yours.

Concern Retains Me In San Francisco

With Net 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 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 performing as a loyal soldier of the Evening’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 it’s important to 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

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 possibly can’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 keen to danger 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 communicate you need from AI leaders selling a “innocent expertise” for the higher good. There might be optimistic advantages from AI for positive.

Nevertheless, there will even be loads of negatives as effectively, together with huge disinformation, fraud, and thousands and 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.

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. In consequence, I must both work in AI or spend money on 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 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 elements of their portfolios in AI corporations.

I plan to allocate one other $500,000 in enterprise capital funds that spend money on AI corporations over the following 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 Mother or father’s Concern Is The Best Motivator

One among a father or mother’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 research.

This concern is among the the reason why I am reluctant to encourage anyone to pay full retail for faculty. Going to a public school or neighborhood school is the best way to go! Lower cost equals much less chance for disappointment.

With AI, sadly, I believe extra highschool and school graduates will discover themselves underemployed and disillusioned sooner or later.

By considering 15-20 years forward for my 3 and 6-year-olds, I can higher hedge towards potential profession disappointments. If they can not get related jobs that present function, I will pull them apart someday and share a model of this word.

A Dialog To My Grownup Youngsters

“Pricey Son/Daughter,

I want life wasn’t so merciless. You studied your hardest in class and did your finest over the previous three years to discover a job in your discipline. 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 hand over! Good issues are but to return.

We’ve 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 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 could have it people. There’s an excessive amount of pleasure, concern, and AI occurring to depart San Francisco. Possibly in our 50s will we lastly transfer to Honolulu. However not now. There’s simply an excessive amount of occurring.

Reader Questions

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

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

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