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.
3) New York
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.
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!
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.