I have my own startup I’ve been developing software for a year or so between consulting work to pay the bills. Ive been considering taking venture capital and moved out here to be around like minded people and the VC network. The startup has had acquisition interest when I demoed it for a FAANG company. I have kids & a wife so the cost of living is eating alot of money to be here. We need a bigger house but its ridiculously expensive here . If we left the area, I have a guaranteed contract that would allow me to mostly retire early in 3-4 years if I saved alot. The thing is, this is the first place I really love living after having lived in 6+ cities over the entire US in the last 20 years. I hate that its a struggle between leaving here or taking a gamble on the startup. I work from home so I can live any where in the world but I have to live somewhere with good schools/environment for my kids What would you do ? TC: $280K
Would definitely get out. Only real reason to consider staying long term is if your extended family / parents live there, imo. Almost anywhere else you'll be golden from a financial pov. Here, you'll just be stuck in the rat race
What do you love about it? Can you find that in other places?
I love the people I randomly meet who are working on amazing things, the beaches , weather, etc. It seems a lot more serendipitous here . Love meeting so many educated, smart people who are like me
ok, smart educated person.
San Diego?
My wife wants to try it. Not sure what the tech scene is like . I’m up for trying it.
What city are you in? Go to a cheaper one like Hayward or a satellite city like gilroy if you need to be close?
I’m in Mountain View. Cheaper cities don’t have good schools . Also, the tech scene is probably nonexistent in Gilroy or Hayward
Schools sure but why do you need the tech scene if you’re working at home? There are decent schools in cheaper parts like south sj and Morgan hill as well
What is keeping you there? Seattle is expensive but not as bad as SF. A lot of similarities like mountains, water, huge tech scene, temperate climate , traffic
You're only crazy for expecting to retire early in the Bay Area. The reality is that there is high demand to live in such a kickass place, so you'd better be willing to work more years for it.
You’re not wrong. Most of the time I’m like, it’s pay to play out here. It’s crazy that you could be a millionaire here but live like you earn $40k year (house, etc)
Move somewhere with a good school system that’s as inexpensive as you can get
Why not east bay? There are areas with good schools and half the housing price compared to San Jose/SF corridor.
Actually very similar situation, but no wife and kids (live-in girlfriend though). Got tf out. Kept up with the consulting from a more remote and nature friendly location. Still come back to the bay once or twice a month. Everything is doing really well and I’m happier than I ever thought I could be in life. But I hated every second in SF. South Bay might be more hospitable though. Just $0.02.
VCs don’t mind you being a ~2 hour drive away from metropolis in my experience. They think it’s cool sometimes- a hiring angle even. Was not a factor last time I raised capital at all.
And also one thing- don’t bank on acquisition “talks”. I got all the way past term sheets and integrating teams when an acquirer tried to drastically change the deal and royally fuck half of my people. Couldn’t sell out my friends lives for couple million bucks. It imploded the whole thing though. Had to close it and restart to keep the team alive. Point being- play hard to get and don’t waste resources on acquisition until you see real money moving. 🙏
I would gtfo Bay Area. Family first