Blog

Short blog posts, journal entries, and random thoughts. Topics include a mix of personal and the world at large.

Holiday parties

A friend of mine told me about her company’s holiday party. My reaction was that it’s kind of disgusting to have a holiday party the same year the employer laid off workers. It’s not quite to the level of “Let them eat cake”, but it’s close. Perhaps it’s my poverty upbringing talking: if you proclaim austerity, then all extravagance should be curtailed. It’s like the guy saying he is broke, yet orders foods on DoorDash everyday.

Are you though?

My employer also held a university-wide Christmas party, of which I did not attend. The optics of it is not great when just a month ago the university President declared a financial emergency. For sure the thousands of dollars to throw a party is pissing against the wind of labor costs. But that money is enough to save one course for the Spring semester. Wouldn’t that be more worth it?

Don’t bring up the argument of boosting morale. A holiday party is but a distraction if the employer cannot guarantee the employee’s future. You know how to best boost morale? Promise the workers there will be no further layoffs. What employees want most is security, not some trinkets gifted at a party. If the company really wants to spend the money, make it a lottery to give to one lucky employee.

It's housing, stupid

It seems my place of employment is not the only education system in dire financial straits. The San Francisco United School District (SFSUD) is facing a budget cliff as well. There’s been talks of school closures this year, but election season sort of put a kibosh on that. Now that the election is over, and the math remains terrible, I don’t see how they can avoid contracting the number of campuses.

SFUSD has the same problem as SFSU: a massive decline in enrollment. Funding from California is tied to pupil count, so less students, less operating budget. Hard decisions will have to be made. San Francisco State will be laying off lecturers and cutting courses come the Spring semester. I can tell you the atmosphere on campus is rather bleak these days.

I think this issue ties back to housing, or the lack thereof. How can you expect a thriving K-12 student population when the working-class cannot afford to live in San Francisco? It’s financially difficult to start a family here if you’re not of the upper crust working in tech or finance. People of those means are more likely to send their children to private school, exacerbating the enrollment problem. Public education needs a robust working-class to support it. San Francisco must build way more housing, driving down home and rental prices, to sustain said working-class.

Until that happens, SFSU must build way more student housing so students can actually afford to attend. The university isn’t renowned for anything in particular, so San Francisco becomes the de-facto draw. Tuition is expensive enough as is; it’s a tough ask to then add on one of the highest cost of living in the country. Never mind the retail crime, homelessness, and fentanyl crisis that gets shown on television.

I believe solving the cost of putting a roof over your head is the main lever to pull here.

Don't be greedy

This article about a fintech savings account app - Yotta - locking users out of their deposits led me down into a Coffeezilla YouTube rabbit hole. It’s super entertaining to watch him expose Logon Paul’s cryptocurrency scam, and this one about taking down a $500,000,000 Ponzi scheme. Coffeezilla had previously pointed out that Yotta looks like a scam because it encourages deposits by offering a lottery that users “cannot lose” in.

As the saying goes: a sucker and his money will soon be parted.

I think it’s immensely admirable for Coffeezilla to expose fraud in the goal to return the money to victims. The cynic in me is having a difficult time not laying some of the blame on the customers. How on earth did these people miss the clear red flags? My friend sent me the article about Yotta, and before I even read the article, I remarked: “I bet the victims were enticed by the promise of abnormally high returns.” Sure enough, that was the case, as it were with many of the scams uncovered by Coffeezilla. Would it be unkind otherwise to label it greed?

It seems a non-insignificant amount of people cannot stand the slow progress of compound growth. Social media platforms make it look like everybody has more money than them. This feeling of inadequacy leads to the inquisitive: how can they get to that level, but very quickly? Everybody wants Warren Buffet’s wealth, but not that amount of time (read: decades) to get there. So of course when someone comes along to offer a shortcut, there’s no shortage of fools willing to take the bait.

I think a lot people simply wish to grow their money so that they can feel safe from the vagaries of capitalistic society. I certainly count myself in that cohort. Compounding is magical, but it takes a long time. That’s just the game. By the time you read about a hot investment on Reddit, it’s already too late for you. And if you see an offer of outsized returns, it’s absolutely fraud.

Stock up, stock down

San Francisco is seeing the first big rain storm of the season. I am somewhat regretting not replacing the tires on my BMW M2 before this. The stock Michelin Pilot Super Sport tires are on the final few thousand miles of usable life. (Current mileage of the M2 is 20,214.) These high performance summer tires are not the best in the rain when new, so it’s downright sketchy when the grooves are worn down. I’m definitely not turning on the performance modes in these wet conditions.

The reason I haven’t yet replace the tires is because I am cheap. I want to delay the inevitable $1,500 charge to replace all four for as long as possible. That doesn’t mean I’m avoiding driving; like a good Chinese immigrant I simply wish to maximize the usage out of a product. I paid for the tires, did I not, in the original purchase price of the BMW? This is the equivalent of adding water to a near empty shampoo bottle in order to use every last bit of it.

The reason I’m being so unreasonably stingy (I don’t make bad money) is because our workplace is facing a fiscal crisis. While I am confident in my abilities and what I contribute to the job, I simply do not have the seniority years to feel completely secure. In the event layoffs do happen, and I am affected, I want to be fully financially prepared. That means stashing away money and squeezing out the utility of things I already have. Black Friday shopping for the dopamine hit will not be in my vocabulary.

Just because a university is a non-profit doesn’t mean no profits. Students pay tuition, staff and faculty have to earn a living. You can’t idealize your way out of hard numbers, especially when cuts have to be made. Under-utilized classes should be the first to go.

In turn, Universities should lean on majors that are popular. For as long as I’ve been at San Francisco State (since 2007), nursing is an impacted program. Meaning: demand outstrips supply. Why does this remain so? The nursing major should have expanded to accommodate the demand long ago. Leverage the popularity and competence to make SF State a known destination for nursing (and whichever other in-demand programs). Give the students what they want!

Capitalism is not without faults. So long as that’s the system we are in, that’s the system we have to work around.

Not for thee

This guy on Reddit is complaining about the prices of haircuts nowadays. I wonder what is his opinion on paying people a “living wage”. (Whatever that means numerically.) According to what he is saying, barbers definitely do not deserve one. Haircuts should remain cheap just like the old times.

Why am I getting the sense the people arguing for a living wage are advocating for themselves only, and not others? There’s this talk of Trump deporting illegal immigrants will cause food prices to go up because there would be a shortage of farm workers. The assumption is that with smaller labor supply, farmers will have to pay more to attract workers. Basic supply and demand.

Well, no one likes to pay more for groceries, right? The high inflation of past years is how (ironically) Trump won the election. But then aren’t we tacitly saying that farm workers don’t deserve a living wage? Fast food workers got a $20 minimum here in California, and enough people balked at the increased menu prices that McDonald’s and others had to start offering $6 value deals to entice customers.

There’s definitely a dichotomy between advocating for higher wages in general but not liking the results. Corporations will always protect their margins, therefore passing the wage increases to customers. Sure it’s easy to skip fast food, but groceries are kind of essential. The populace won’t stand for inflation at the supermarket.

Let’s be honest: what we really want is for us to get paid more individually, but for prices of stuff to remain the same. So we can’t all get a raise, because that would cause inflation. Living wage for me, but not for thee: Californians rejected the State proposition to increase the State minimal wage two weeks ago. At least we are honest with ourselves!

Unconsumed holidays

Word on the street is that with the supposed Trump tariffs looming on goods made in China, people should buy what they need now to save a buck or two. If you’ve been eyeing a dishwasher upgrade and the thing is Chinese made, time to buy yourself a Christmas present.

Anecdotally, sales representatives have warned us at work to put in big orders now, should the tariffs come into fruition, and suddenly that batch of laptops is now 20% dearer in price. I’m sure the representative has an incentive to sell as much as possible before the end of the year for that bonus. That said, our university is not exactly loaded with cash, so any savings on bulk purchases is not nothing.

Maybe Trump is playing 4D chess: threatens tariffs, inadvertently causes the biggest holiday buying season of all time.

It may be the most wonderful time of the year in terms of weather and atmosphere, but the blatant and rampant consumerism of the holidays is kind of disgusting. The combination of Black Friday and present shopping is both a financial burden and environmentally unfriendly. The endless shipping boxes and the energy it takes to get them to customers.

I’m glad my friend group do not have holiday gifting culture. And even if we did, I’d buy everybody stuff they’d actually use. Like toilet paper, or a pack of USDA Prime beef. The last thing I need more of are items that just sits on a shelf to look nice. It would go straight to the trash bin if and when I ever move home again.

Good news: I saved 100% by buying nothing!

Get the fat

This may be stating the obvious, but two percent Greek yogurt tastes so much better than the non-fat version. Much like how whole milk is the only true milk out there. Those of you drinking two percent milk might as well be drinking water, because that’s what you are buying.

It’s a shame the Costco Kirkland brand only sells non-fat Greek yogurt. For the tasty stuff I have to shell out more money for the Fage brand. In an era of everything-cost-way-more-than-it-use-to, I aim to save a buck here and there when I can. Buying in bulk at Costco with its house brand is a great way to execute that strategy. Alas, it can’t fulfill everything. At least I get 5% cash back at Whole Foods (where I buy Fage Greek yogurt).

It’s occurring to me more and more than when I look at (the high) menu prices of restaurants, that perhaps I should make the same food at home instead. For example: I have strong affection for Korean food. When I see my favorite dish - beef short rib soup - is encroaching into the 30 dollars territory, it’s time to learn how to cook it myself. Save a bit of cash, and it’s probably healthier, too (way less sodium).

I’m reminder of my friend who lives over in Switzerland. Eating out prices have always been expensive there, so whatever dish she desires to eat, she learns to make it. Who would have thought that I would come to face the same situation here in America. Or perhaps it’s just me? I guess a lot of people out there are making more money than me to afford restaurant food frequently.