Overview
- Posting on January 1, Sacks wrote that Miami will replace New York as the finance capital and Austin will replace San Francisco as the tech capital.
- Sacks, a venture capitalist serving as a White House adviser, cast the prediction as a response to what he called socialism in Democratic-led cities.
- Recent moves include Craft Ventures opening an Austin office with Sacks relocating, while Thiel Capital announced a new Miami office.
- Coverage notes ongoing pull factors such as lower taxes and living costs in Florida and Texas, alongside prior relocations by companies like Tesla and Oracle.
- Structural realities remain intact, with New York hosting the NYSE and Nasdaq and venture capital and AI funding still concentrated around San Francisco and Silicon Valley.