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Miami is not the next Silicon Valley. It's something much weirder.
BusinessBusiness Insider1mo 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

Netflix Expands Kids' Content and Launches Gaming App
Culturevarietyhollywood-reporterdeadline6h ago3 sources

Netflix Expands Kids' Content and Launches Gaming App

Netflix is expanding its offerings for young viewers by ordering new episodes of 'Ms. Rachel' and 'Sesame Street,' renewing other shows, adding a new preschool series, and launching a dedicated kids' gaming app called Netflix Playground.

Jeseník Revitalizes Pod Chlumem Housing Estate
Politicsirozhlas10d ago

Jeseník Revitalizes Pod Chlumem Housing Estate

The city of Jeseník is resuming the revitalization of the Pod Chlumem housing estate after a winter break, focusing on road repairs as part of a five-phase project that includes new playgrounds and a square reconstruction, expected to be completed by 2028.

Military launches probe after child hit by suspected stray bullet in playground
WorldKorea Herald20d ago

Military launches probe after child hit by suspected stray bullet in playground

South Korea’s Army has suspended rifle shooting drills to conduct safety checks across all units, after an elementary school girl was injured at a playground in Daegu on Monday by what is believed to be a stray bullet. According to police and military officials, the incident occurred around 4:03 p.m. Monday at a playground near Gukwoo Elementary School, adding that the girl's injuries were not life-threatening. The girl, whose identity is not disclosed, was struck below the neck by an object sus

Girl Injured by 'Stray Bullet' at South Korean Playground
Worldtvn2419d ago

Girl Injured by 'Stray Bullet' at South Korean Playground

A girl playing at a playground near an elementary school in Daegu, South Korea, sustained injuries to her neck from a metal fragment, prompting authorities to investigate if it was a 'stray bullet' from a nearby military shooting range.

Private jet prices soar as wealthy scramble to leave Dubai
BusinessThe Guardian1mo ago

Private jet prices soar as wealthy scramble to leave Dubai

People drive to Oman and Saudi in hope of a flight, while most tourists stay stuck in hotels and on cruise ships US-Israel war on Iran – live updates Iranian attacks on Dubai and the closure of its airport have triggered a scramble among the wealthy to leave the emirates via alternative routes on private jets. The normally glitzy city – a playground for billionaires, influencers and millions of international visitors – has been on edge since drones and missiles fired in response to US and I...

Canadian travellers have not gotten over their beef with Trump, and snowbird destinations could feel the pinch
BusinessBusiness InsiderYahoo1mo ago2 sources

Canadian travellers have not gotten over their beef with Trump, and snowbird destinations could feel the pinch

Snowbird destinations from Palm Springs to southern Florida are feeling the impact as Canadians remain hesitant about traveling to the US. Sarah Gray/Business Insider New data from Longwoods International shows Canadians are still hesitant about traveling to the US. Major snowbird destinations from Palm Springs, California, to southern Florida are feeling the impact. Canadians are opting for Europe, Mexico, and the Caribbean instead, or for domestic travel. Canadian travellers are still unhappy with President Donald Trump, and that's affecting the 2026 outlook of visitors to the US from Canada. In 2025, there was a noticeable travel chill from the US's northern neighbor, following President Donald Trump's quips about the "51st state" and the levying of hefty tariffs. A January survey of more than 1,000 Canadian prospective travelers found that they remain hesitant to travel to the US and would rather support domestic tourism, according to Longwoods International, a tourism industry market research company. According to Longwoods International, 55% of surveyed Canadian travelers report that they intend to travel to the US within the next 12 months, which remains mostly unchanged from 54% reported in October 2025. Among those who intend to make the trip, only 9% say they have already made bookings. In 2025, 4 million fewer Canadian travelers visited the US than the previous year, marking a 22% drop, according to the US Commerce Department's National Travel and Tourism Office. Seventy-three percent of Canadian respondents to the latest survey, who said they changed their 2026 travel plans to avoid the US, cited economic policies and tariffs. Other factors are also at work. More than 40% of respondents told Longwoods International that they strongly or somewhat disagree that the US is a place that values international travelers, welcomes travelers with diverse backgrounds, is a safe place to visit, and feels welcoming in general, and the number of Canadians who agree that the US feels safe to visit has been declining over the past year. Popular destinations for Canadian snowbirds, such as southern California and Florida, have been trying to woo them back. But it appears that those attempts have fallen flat as Trump continues to threaten Canada with tariffs and recently threatened to delay the opening of a bridge Canada paid for. In 2025, California's Gov. Gavin Newsom began trying to convince Canadians with targeted video campaigns that California welcomes them. Recently, heart-shaped banners featuring the Canadian flag also popped up in Palm Springs, which, according to the Los Angeles Times, is feeling a chill this winter from fewer Canadian tourists. "Sure, you-know-who is trying to stir things up back in DC, but don't let that ruin your beach plans," Newsom said in a campaign video. "California is the ultimate playground — over 2,000 miles from Washington and a world away in mindset." According to Visit California, the number of Canadian visitors to the state still fell by over 18% in 2025 compared to the year prior, slipping to 1.4 million. In 2024, Visit California showed that 1.7 million Canadians visited the state and spent around $3.7 billion. Even Disney, the happiest place on earth, is feeling the impact as international travelers skip the US. In the Walt Disney Company's first-quarter earnings report earlier in February, the company said it is facing "international visitation headwinds" at its US parks, including Disney World in Florida and Disneyland in California. Visit Florida lists Canada as the state's top source of international visitors, with around 3.4 million travelers from Canada to the state in 2024. In 2025, the state saw a 15% year-over-year drop, according to Visit Florida, with only 2.9 million visitors from Canada. Canadian airlines Air Transat and WestJet are also suspending all or some flights from Canada to the US this summer. "We saw a notable decline in transborder travel demand throughout 2025," Julia Kaiser, media relations advisor for WestJet, told Global News earlier in February. "As a result, we made timely decisions to modify our network to stay aligned with where Canadians want to go." The slowdown in trips to the US doesn't mean that Canadians are no longer traveling. Longwoods International said that 45% of Canadian travelers who changed their plans for a US trip now say they would substitute it with a domestic trip, while about a quarter of prospective travelers are looking toward Europe, Mexico, and the Caribbean. As of February 17, China also opened up visa-free entry for all Canadian citizens, allowing up to 30 days of travel for business, tourism, family visits, or transit. Read the original article on Business Insider