"In January, David Sacks, the venture capitalist and crypto and AI czar, proclaimed that Miami will soon replace New York City as America's financial capital. Stripe's Patrick Collison has been marveling at the city's "boomtown" vibes. With California flirting with a one-time tax on billionaires, said billionaires like Larry Page, Sergey Brin, and Mark Zuckerberg are buying oceanfront mansions. And on Tuesday, Palantir announced that it's moving its headquarters from Denver to Miami."
"The pandemic sent waves of coastal workers to the city, turning it into a Zoomtown full of online venture capitalists like Keith Rabois and Delian Asparouhov, bitcoin bull runners, and purveyors of the finest NFTs. Billboards went up in San Francisco featuring a mock tweet from then-Miami mayor Francis Suarez: "Thinking about moving to Miami? DM me." Here's the thing: It's easy to fall for Miami when a big chunk of the workforce is stuck at home and online."
Tech leaders and investors are moving to Miami, citing tax incentives, 'boomtown' vibes, and high-profile relocations by billionaires like Larry Page, Sergey Brin, and Mark Zuckerberg. Companies and executives such as Stripe's Patrick Collison and Palantir, which moved its headquarters from Denver, have signaled confidence in Miami. The pandemic accelerated a migration of coastal workers, creating a Zoomtown of online VCs, crypto investors, and NFT entrepreneurs. Billboards and mayoral outreach boosted migration momentum. However, seasonal population shifts, a thinner social scene in summer, and a lack of major local universities and startup "conveyor belt" infrastructure make building enduring startups more difficult.
Read at Business Insider
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