David Sacks Predicts Miami and Austin Will 'Replace' NYC and SF
Business Insider••business
Key Points:
- David Sacks, White House AI czar and venture capitalist, predicts Miami will surpass New York as the U.S. financial capital, while Austin will replace San Francisco as the tech hub, sparking debate across the tech and venture communities.
- Sacks argues that high taxes, heavy regulation, and political shifts in New York and San Francisco are driving talent and capital to more business-friendly cities like Miami and Austin.
- Y Combinator's Garry Tan remains cautious, noting successful startups are still more likely to emerge in San Francisco, but has hinted at opening an Austin office if California enacts a proposed billionaire wealth tax.
- Several major firms and investors, including Craft Ventures and Thiel Capital, have already expanded or relocated
