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Miami is not the next Silicon Valley. It's something much weirder.
BusinessBusiness Insider5d ago

Miami is not the next Silicon Valley. It's something much weirder.

Kevin Dietsch/Getty Images; Getty Images; Rebecca Zisser/BI Tech's elite are taking their talents to South Beach — again. 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. Is Miami the next Silicon Valley? We've been here before. 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. Five years later, it's a lot harder to build companies there. "Miami is great three months out of the year," says one prominent venture capitalist who moved to the city during the pandemic but is now returning to an established hub. While the Floridian tax benefits are real, the investor has found that the social scene hollows out in the summer as residents leave, making it "hard to build roots or have reliable friends." More critically for the startup ecosystem, the scene lacked the "hustle" of San Francisco or New York. Silicon Valley practically runs on a conveyor belt from Stanford and Caltech to Y Combinator's Dogpatch offices. The machine turns students into founders, builders into companies, and companies into the next wave of founders. Miami, meanwhile, lacks a major university to pipe in tech talent. Instead, the investor says, the city tends to attract people who have already "made it." Miami and Fort Lauderdale-based startups raised $3 billion in 2025. Bay Area-based startups raised $177 billion. The Miami market, while busy, significantly lags behind the major hubs. Startups in the Miami-Fort Lauderdale metro raised about $3 billion in 2025, per PitchBook, down from $8.6 billion in 2022, when money and crypto sloshed about. The Bay Area, by contrast, still grabs 52% of the nation's venture funding, with $177 billion in capital pouring in last year. Alligators may be all around in Miami, but unicorns are hard to find. In January, Cast AI, a startup that helps companies cut cloud costs, crossed the $1 billion valuation mark, becoming the region's first homegrown unicorn in years. Before that, Adam Neumann, the ousted WeWork cofounder, debuted his Miami residential real-estate venture, Flow, at a $1 billion valuation in 2022. Even Garry Tan, the Y Combinator president and gadfly who's usually first in line to dunk on San Francisco's politics, has been blunt about where the breeding grounds are best. Tan recently said on X that the accelerator still hasn't opened offices outside the Bay Area because founders are simply more likely to build unicorns there. According to a Business Insider analysis of Crunchbase data, of the at least 97 new unicorns that investors minted in 2025, 43 of them were based in the Bay Area. But those who dismiss the city entirely miss the point. Miami isn't the next San Francisco. It's establishing itself as something else. Patrick Murphy, a former Florida congressman and entrepreneur, says that Miami's tech scene is growing, it's just being built in "reverse order." Silicon Valley, he says, emerged from an if you build it, they will come approach: Engineers built great companies first, which eventually created fortunes that cycled back into the community to fund the next generation of companies. Miami, however, has a more if you come, they will build it tact. It's attracted the "wealth achievers" first — the family offices, private equity names, and already-successful founders who emigrated for lifestyle reasons. Finance heavyweights like Citadel and Thoma Bravo arrived early. Vanguard, one of the world's largest asset managers, is eyeing an expansion in Miami as it targets more Latin American wealth. The city is now importing the machinery that follows them. Legal, accounting, and consulting firms are opening local offices to stay close to clients — and scoop up star talent that no longer needs to live near HQ. This dynamic has established Miami as a "control center" for decision-makers, Murphy argues, but not yet the "factory floor" where the actual work gets done. Murphy says that despite running a successful construction-tech startup, Togal.AI, his engineering team has been offshore from the beginning because the local talent pool simply "didn't exist" when he started in 2019. "If you go to Miami, you're not going to see dozens of engineers at a Starbucks cranking away," he says. "That's not here yet." Still, Miami's flood of wealth is creating demand for startups built on the city's local economy, especially in property tech and fintech, Murphy says. Togal.AI's annual recurring revenue has grown 1,000% over the past two years, Murphy says, and is now raising fresh venture funding in order to hire dozens of new employees this year. Palantir's move immediately became a kind of Rorschach test for Miami's future. "Florida is the new crypto," one user wrote on X. Maya Bakhai, a Fort Lauderdale resident and founder of the early-stage venture firm Spice Capital, tells me that the city will flourish alongside "net new" industries that are still taking shape and where the center of gravity isn't locked in yet. Crypto firms like MoonPay and QuickNode still treat South Florida as a home base, she notes. A new space-tech accelerator backed by the state is trying to persuade founders to stick around by pairing them with funders. Bakhai's bigger bet is that just as New York became the hub for e-commerce, Miami could become the place where creator businesses get built. Research out of the University of Hong Kong found Miami has more top influencers per capita than New York or Los Angeles. And then there's Palantir, the strongest signal flare yet that tech is taking America's Playground seriously. It's hard to know what the data giant's HQ move will mean in practice — Palantir hasn't said how many employees it plans to relocate, or whether it will offer moving packages to lure talent south. The company did not respond to an email request for comment. If Palantir does move a meaningful slice of its workforce, it would give Miami something it's been short on: a marquee tech employer that can recruit and keep technical workers on the ground year-round. On X, Palantir's move immediately became a kind of Rorschach test for Miami's future. ""Florida is the future," cheered Andreessen Horowitz investor Katherine Boyle. Others were less convinced. "Florida is the new crypto," one user wrote. "For the next 20 years, nothing will change, but they will always tell you 'big things are happening in Florida.'" Turning Miami into Silicon Beach is a long game, Bakhai argues. It won't be built by the billionaires buying houses to snowbird in today, she argues, but by the young strivers arriving for their first serious jobs — the entry-level analysts heading to Citadel and the junior lawyers starting at firms like Orrick. For the first time, she says, ambitious graduates can launch careers in Miami instead of treating New York or San Francisco as the default. The payoff, she says, comes years later, when they eventually spin off to start their own companies. Until then, Miami remains largely a playground for the "made it" crowd, waiting in the sun for the builders to come. Melia Russell is a reporter with Business Insider, covering the intersection of law and technology. Read the original article on Business Insider

Argentina, Ambassador Nicoletti visits the Malba museum
CultureANSA8h ago

Argentina, Ambassador Nicoletti visits the Malba museum

(ANSA) - BUENOS AIRES, 23 FEB - The Italian Ambassador to Argentina, Fabrizio Nicoletti, visited the Museo de Arte Latinoamericano de Buenos Aires (Malba) today in the presence of the President of the Malba Foundation, Teresa Bulgheroni. Founded in 2001 by Eduardo Costantini and now considered one of the most influential cultural spaces in Latin America, the center has hosted numerous important Italian initiatives, developed thanks to close and fruitful collaboration between Malba, the Italia...

Top US commander makes surprise visit to Venezuela after Maduro’s capture
WorldFrance 245d ago

Top US commander makes surprise visit to Venezuela after Maduro’s capture

The top US military commander for Latin America, General Francis Donovan, and senior Pentagon official Joseph Humire made an unannounced visit to Venezuela on Wednesday for security talks with interim authorities in Caracas, marking the first US military delegation trip to the country since Venezuelan president Nicolás Maduro was captured by US forces last month.

US Military Blows Up 3 Alleged Drug Boats, Killing 11, After Lull Since January
WorldwsjMoscow Timeszerohedge5d ago3 sources

US Military Blows Up 3 Alleged Drug Boats, Killing 11, After Lull Since January

US Military Blows Up 3 Alleged Drug Boats, Killing 11, After Lull Since January The Pentagon's whole anti-narco boat operations fell relatively silent for the past more than a month in the wake of the January 3rd US military raid on Venezuela to overthrow the Maduro government. Surely there was still drug trafficking off Latin America, but with 'mission accomplished' in Caracas the public PR 'anti-drug' pretext was no longer needed, apparently. But suddenly, this week, the US military has begun its strikes on alleged drug boats again, with US Southern Command (SOUTHCOM) on Tuesday having announced its forces launched drone assaults on three alleged drug smuggling boats in the eastern Pacific and the Caribbean on Monday. In total eleven people were killed in the renewed operation. "Intelligence confirmed the vessels were transiting along known narco-trafficking routes and were engaged in narco-trafficking operations," SOUTHCOM said Tuesday in a post to X. Illustrative narco-boats file, via X. The military statements said the three boats were allegedly "operated by Designated Terrorist Organizations." The post further referred to those killed as "male narco-terrorists," detailing that eight were killed on two boats in the eastern Pacific - or the Western side of Latin America - and three were killed on a boat in the Caribbean. No American forces were harmed, the post said, in the assault conducted at the direction of Marine Corps Gen. Francis Donovan, who serves as the commander of Southern Command. War (Defense) Secretary Pete Hegseth celebrated the fresh strikes in a post on X, writing, "Turns out President’s Day — under President Trump — is not a good day to run drugs." For all the momentary celebrations at the Pentagon, the supposed 'war on drugs' will be circular and never-ending, as it's been over the past many decades, spanning presidencies. But this is really about American influence and 'ownership' of the region and total dominance of the Western hemisphere. From Vietnam to Iraq to Libya to Syria to Iran, Washington is always looking for some kind of casus belli - even if it has to be manufactured - to sell war to the American people.  Turns out President’s Day — under President Trump — is not a good day to run drugs. https://t.co/8c5wMmQbQ2 February 17, 2026 Going back several years, the single biggest sources of the world's fentanyl trade have been consistently identified as China and Mexico. At this point it's impossible to know, and hasn't been disclosed, whether any of the well over 25 boats blown up by US military action off Latin America since September were actually loaded with fentanyl, or in what quantities.  Tyler Durden Tue, 02/17/2026 - 19:40