As a long time resident of Oakland, I'd like to relate some awesome things about Oakland, none of which the author touched on. Well, I guess the diversity and "Real-ness" count.
Oakland is a hell of a lot cheaper to live in. Groceries, restaurants, rent, drinks, office space, hotel rooms, air fare: everything is cheaper.
In Oakland, we have a burgeoning uptown scene, punctuated by the Art Murmur, an event which started in 2005, and has blossomed into a giant street festival that very accurately reflects the diversity of Oakland. It's a First Friday roll call for the city, and the Bay Area.
That "Beer Garden" mentioned elsewhere, was a hipster coffee shop before that, and a cheap cafe before that, all willingly handed with great care from owner to owner. Gentrification has room to spread in Oakland, so while some complain about it, it mostly removes empty lots and vacant windows, not mom and pop businesses.
The Mission, on the other hand, sees gentrification at the cost of existing businesses. And speaking of the Mission, Oakland's Fruitvale district is the cheapest, most active place you can live for under 4 figures, while still being 30 minutes from downtown SF via BART or car. Fruitvale has become quite the destination, for the adventurous.
I could go on: The Chapel of Chimes is a Julia Morgan masterpiece, a labyrinth of death located in the hills. The Rose garden has a resident turkey. There's a couple breweries that host quiet BBQ's, Jack London Square, the various parks in the hills. The Hills.... The Fox and the Paramount. Van Kleefs.
And my own personal favorite: http://www.themade.org