Dear Wall St. Journal, Have You Never Heard of San Francisco?

GGB By Mrs. Samurai

GGB By Mrs. Samurai

According to the Wall St. Journal, the Top 5 “youth magnet cities” are:

1) Washington DC – Didn’t realized that’s how they spelled San Francisco.

1) Seattle

3) New York

4) Portland

5) Austin – Washington DC

My main question is: “Where is San Francisco?!” When I can walk over to the headquarters of Twitter and ask the VP of development why my Twitter account name can only be @FinancialSamura and not @FinancialSamura(i), grab a bite to eat with Googler‘s across the street at the Water Bar, and then go drink some beers with some marketers at Facebook, how can San Francisco not be one of the Top 5 magnet cities for youth?  Yes, the city is a little bit expensive ($500,000, 600sqft studios anyone?), but these young guns all make a lot of money, and they are going to make a ton more once they get acquired or go public!  Oh yeah, ever heard of YouTube?  They’re based here too as I was reminded one day checking out a $2.5 million open house for fun.  The agent told me the young 28 year old lady and her husband were selling to move back home to Iowa!

San Francisco and Silicon Valley are the absolute meccas for social media, venture capitalism, and the internet.   Every single management consulting firm and major financial institution (a populist “boo”) are here too.  If you’re in college, or are thinking about transferring to a new city, think about San Francisco.  Take it from a guy who has lived in DC, New York City, and has been on countless business trips to Portland and Austin, San Francisco rocks!

LIFESTYLE & COINCIDENCES

When you can drive 3 hours up to Squaw Valley, Lake Tahoe and snowboard in a foot of fresh powder, and the very next day play tennis in 70 degree weather back in the city, why would you live anywhere else?  The 10 years on the east coast was spent freezing my bum off every winter, and sneezing my head off every spring and fall because of allergies.  If only I would have discovered San Francisco sooner.

A couple weeks ago, I was playing golf with a client and his friend who works at Federated Media. I had no idea what Federated Media was because I’m a noob, but I soon realized they are a fantastic advertising platform which counts Wise Bread and Mashable as their clients!  We’re going to have coffee this month so he can explain to me the hurdles of getting represented by them.  Is someone with a similar offering going to be competitive with someone who can have a face to face conversation straight with the source?  No.

Just this past weekend, I went hiking with 8 friends up in Muir Woods (great redwood trees).  It turns out one of the hikers is the VP of Sales at Adbrite, one of the Top 5 advertising platforms on the web.  I started asking her how they planned to take on Google Adsense, and improve their technology because some of their relevancy was disappointing.  I also had a problem during test trials of waking up to animated porn advertising and Russian mail order brides on the site!  It was so fascinating to hear her speak about her company’s strategy and innovation.  I’m pretty sure Adbrite will continue to improve and be bought out someday.

The point I’m trying to make is that 1) it must be easy to get a job as a writer for the WSJ since they’ve never heard of San Francisco and 2) if you live in San Francisco, you are surrounded by people in fast growing, and potentially highly lucrative fields.  I didn’t seek out these people, they just so happened to be people I bumped into while enjoying some hobbies.

CONCLUSION

Don’t get trapped in Austin, or do “equities in Dallas” as Liar’s Poker Michael Lewis famously wrote.  Once you’re stuck, it’s very hard to get out.  I wouldn’t write as one-sided if it wasn’t for Wall Street Journal’s snub, but here is San Francisco’s defensive as it is.  Build your resume in San Francisco, New York City, Washington DC, London, Hong Kong, and from there you can make your fortune and go anywhere.  Once you retire, you’ll have an immediately bigger nest egg because everywhere else is so much cheaper.

Readers and younger folks, what cities do you have your heart set on for work?  If there’s anybody from Austin, feel free to stand up and defend your city!  If anybody will be watching the President’s Cup on TV this weekend, we’re going to do our best and wave to the readers with our FS logo at Harding Park.  Go USA!

Keigu,

Financial Samurai – “Slicing Through Money’s Mysteries”

Follow Me on Twitter @FinancialSamurai

Disclaimer: Gavin Newsom didn’t pay me to write this article, but maybe Nancy Pelosi did.

Sam started Financial Samurai in 2009 during the depths of the financial crisis as a way to make sense of chaos. After 13 years working on Wall Street, Sam decided to retire in 2012 to utilize everything he learned in business school to focus on online entrepreneurship.

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Comments

  1. says

    @canz Because Twitter has a max name length of 15 characters! :) It can’t be that hard to make it 16 or 20 characters long right?

    BTW, what city are you writing from and do you have any particular cities in mind where you’d really like to be? FS

  2. Suzan says

    That is quite a picture taken by Mrs. Samurai! I can almost hear the water splashing against the rocks!

    I think the title of WSJ’s article, The Next Youth-Magnet Cities, is misleading or at least not clear. When I saw the title, I thought it was going to talk about the most wonderful cities for young people to live. You would have been right if that was the case. But when read, it seemed to be talking about “cities that job seeking college graduates most likely choose to move to” to find jobs! After the recent recession, the high cost of San Francisco’s rental alone would have scared away most of the first-time job seekers. Please correct me if I am wrong.

  3. says

    @Suzan
    Thnx, I’ll be sure to tell her! She took it during a bike ride of ours a couple weekends ago.

    Rents are definitely higher here in San Francisco than most parts of the world, but incomes are also commensurately higher. The article really is about highlighting the best cities for finding good jobs, and San Francisco is second to none.

    Besides, it really is amazing to live here. I’ve lived in 7 different countries and 10 different cities, and SF is by far the most enjoyable. It shocks me the WSJ doesn’t even recognize San Francisco.

  4. Cheapskate Sandy says

    I get your argument. The largest web 2.0 businesses are there so I guess that spells youth right? Austin can drop off but Washington, D.C. should most def. be on the list. Think of all the very young staffers that are attracted to our nation’s capital and those bad boys turn over every year.

  5. says

    @Cheapskate Sandy
    Every single major 2.0 web business is here, at least the ones that I’ve heard of. Yes, no offense to Austin… love the BBQ and music scene and all, but if you go to Austin and want to get out, it will be very tough.

    Washington DC is awesome for politics and government for sure. Not sure about other sectors. Lots of consulting companies, which would be good. DC is #5 on the list, in replace of Austin :)

    FS

  6. Suzan says

    San Francisco was and still is my first choice. But I am retired and have other priorities, otherwise, I would find a way to move there now!

    Many of those consulting firms in Washington DC hire former government employees now retired!

    • says

      Hi Suzan – Interesting to note about consulting firms hiring former government employees. Must be good for them to work both in the private and public sector.

      Perhaps you can seek out friends or family in SF and hang out with them sometime? Enjoy retirement! I am envious! :) FS

  7. Daniel @ Sweating The Big Stuff says

    I live in Washington, D.C. and I have to say, there are LOTS of young people here. All the government work creates lots of jobs and there are several colleges right in the heart of the city, plus others (University of Maryland & Johns Hopkins) not too far away. I came from Maryland and it seemed like everyone wanted to move to D.C. or New York.

    Like you said, lots of consulting companies, which do a lot of work for the government. I think #5 is a little low, but maybe I’m biased. Still, I agree that New York should beat it out.

    • says

      Hey Daniel – Yeah, you’re right…. Georgetown, UVA, William & Mary, Johns Hopkins, Mary Washington, American University, George Washington, George Mason, UMD all there! DC over Portland for sure! No better place to go than to DC if you’re into politics and government. Thnx for stopping by! FS

  8. SeeJaneGetRich.com says

    Sure, San Fran has a few popular tech companies but it can’t match the sheer number of opportunities offered by the gov’t in DC especially for those starting out. Not to mention multiple higher ed institutions, way affordable housing than San Fran and a much better metro system etc… DC’s #1 spot is well deserved.

    • says

      Booo, I disagree Jane! :) I lived in the DC area for 8 years and the weather is absolutely atrocious. Yes, if I wanted to get a government job, DC is #1 on the list, but anything else not so much. Banking, management consulting, internet, social media, advertising is all better served in NYC, SF, and LA.

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