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Andreessen Horowitz, the $43 billion venture capital giant, has closed its Miami Beach office two years after opening it. The closure comes in the wake of the crypto meltdown and a significant decline in venture capital funding to Miami-based companies. Sources indicate that the office was shut in May because staff were not using it enough. Miami's ambitions of becoming a tech hub have been dampened, with VC funding in Q2 2024 amounting to only $400 million, a stark contrast to the $5.5 billion collected in 2022. The implosion of Sam Bankman-Fried's FTX shortly after the office's opening further contributed to the downturn. The company cut short its lease by about three years.
I guess people are talking about Miami today. Counterpoints: - The a16z GPs that moved to Miami are still here - a16z recently led a massive round into Exowatt (Miami-based) - Miami had $155m in seed rounds in H1 '24, 11% of SF In conclusion, all the haters are retarded incels https://t.co/mBJNHtszFj
When Andreessen Horowitz opened an outpost in Miami Beach, the $43 billion venture capital giant bolstered the region’s ambitions of becoming a tropical tech mecca. https://t.co/XHIZ1263dN
I guess people are talking about Miami today Couple counterpoints: - All the a16z GPs that moved to Miami are still here... - a16z recently led a massive round into Exowatt - Miami had $155m in seed rounds in H1 '24, 11% of SF In conclusion, all the haters are retarded incels https://t.co/mBJNHtszFj
