Investors are lauding Miami for its recent growth as a tech hub, with some even saying it could surpass San Francisco.
Writing on Twitter this week, Soma Capita founder Aneel Ranadive proclaimed that Miami is the next Silicon Valley.
Ranadive, who was born in the San Francisco area, said that young talent loves being in Miami. Buzz and excitement for the city was continuing to build, he added.
According to Ranadive’s Instagram, he has been in Miami for over a year now. He is a part owner of the Sacramento Kings.
Anthony Pompliano, a tech investor with 1.4 million followers on Twitter, took it a step further.
“Miami will eventually be bigger than San Francisco’s tech scene,” Pompliano wrote.
Miami is “growing exponentially,” while San Francisco is collapsing, Pompliano said.
Better weather and no state taxes, but housing will continue to pop and keep pricing out locals unfortunately
Why zoning needs to change to encourage more residential development. Plenty of empty lots even in brickell. Melo should be able to fill wynwood with towers is mana wasn’t just holding to flip in ten years.
Um, wasn’t that Miami21 ten years ago? It’s other factors like traffic, concurrency, etc. which make development difficult even if land is zoned accordingly.
I have yet to meet a developer who says, “Well, we would like to build housing, but our market research has shown that traffic is bad.”
What i have not heard is a developer or any city leader is ask when will the city have an solid infrastucture to move folks around obviously some folk have not had the chance to experience gridlock in all the main roads anytime of day oh must be your in a helicopter and 40 foot boat moving around from sobe to downtown wait till your food delivery never shows up because of traffic jams.so case and point lets develop roadways and bridges and highways fist before moving 300 tenats in to a building or at least improve our road capacity its already looking like traffic in LA. & SAN FRAN remenber that?
Geez your syntax, grammar, punctuation, and overall sentence structuring is terrible!
I am not sure Mana is looking to flip in fairness to them. Moshe had very defined ideas with the Chinese that backfired after Trump. But he still has a vision for a Tech corridor. He really was ahead of his time.
As long as the New Green Deal B.S. doesn’t increase the price of air conditioners.
Stop being picky and move to Opa-Locka. Plenty of deals there.
Bad attitude. ^^^^
I’m a local and I just bought a decent house.
For 30 years, NOBODY ever priced me out of anything that I wanted.
The “locals” who get “priced out” have not created the value that “immigrants” who are recognizing the value of Miami.
Shame on the locals who bitch, whine, and complain. Shame on you fools who do not recognize what an amazing deal you have had all of your “local” life and you have sat on your ass.
They used to say about New York City, “If you don’t step up….someone else will”.
NEWSFLASH: If you don’t step up in Miami, then someone else will”.
Congrats buying at the bubble peak.
(That’s what I thought too until someone offered several hundred thousand more than I paid)
Hurry up and take that offer.
This is mostly true, service sector jobs need to be paid more but just because someone was born here and doesn’t do anything doesn’t mean they’re “getting forced out”. They just can’t compete.
SF is collapsing, but Miami has a long way to go to get even close to that level.
He’s differentiating SF from Silicon Valley…so he’s not saying bigger than SV.
Pomp “the tech investor” as a news source is hilarious.
The future is bright for Miami
Oh yeah, the ever rising sea levels, and the ever present threat of a direct hit by a major hurricane!
SF is situated directly over the most major faultline in the USA.
And homeless drug addicts with the highest taxes don’t seem to solve
You forgot earthquakes big time in San Francisco
If you are that concerned about sea levels and hurricanes, move out of the tropics and go live somewhere in the middle of the country.
I’ll believe it’s a crisis when the people who tell me it is a crisis starting acting like it is in their own affairs. Maybe you can interview Pres. 44 on Martha’s Vineyard, or a few of the smart guys buying up land on the islands in the Bay?
One of the greatest comedic narratives in recent real estate journalism is “sea level rise migration”.
It must have started in the New Times or Biscayne Bay Times, and picked up by the Miami Herald, but there was (so the 25 year old journalists thought) a serious article about the massive percentage increase of real estate sale in Little Haiti.
Of course these little Maynard Keynes’ deduced that the $200,000 houses in Little Haiti that are now closing for $250,000 (up 25%) and the North Bay Road $12,000,000 house was closing for $14,000,000 (up 16%) is definitive proof that people are buying in Little Haiti to escape Miami Beach waterfront real estate as Climate Change Refugees.
Obviously! 25 is more than 16….right?? It has got to be Climate Change.
OF COURSE! What else could it possibly be?
Haha.. you sound like a person that was told that Oklahoma get tornadoes spawning out of nowhere and especially in tornado alley but didn’t heed the warnings and still there and brought or built a house there. And after it gets destroyed by a tornado, we see you on TV looking like “what happened” and now want sympathy from everyone watching.
Don’t fear the Sea Level Rise….just vote for me and I’ll fix it.
Why didn’t TNM screengrab anybody with an NFT monkey or a hexagon?
Why did they quote poor people who can’t over spend on NFT’s?!
Let’s not follow in SF’s footsteps and let our lower to middle class residents become houseless. We need more affordable housing quickly if we want to maintain Miami as a welcoming and reputable world-class city.
In CA it’s zoning which discriminates against multi-family projects. That seems unlikely to be a problem in Miami. The supply, as we keep seeing on TNM, is growing about as quickly as possible.
What are you talking about? SF was built for the most part before zoning, and is filled with multi-family housing. There’s a myriad of factors towards why housing in expensive, and zoning is the whipping boy because so many people don’t understand it. Quit drinking CATO Institute Kool-Aid complaining that zoning doesn’t allow you to refine plutonium in your backyard or other laws when enforced, not allow you to bring in millions of illegals to mow your front yard because “I” don’t want to.
Nowhere has there been so much hand-wringing over a lack of “affordable housing,” as among politicians and others in coastal California. And nobody has done more to make housing unaffordable than those same politicians and their supporters.
Public meetings, task forces and political hand-wringing about a need for “affordable housing” occur all up and down the San Francisco peninsula, because this is supposed to be such a “complex” issue.
Is the solution to unaffordable housing prices in parts of California simple? Yes. It is as simple as supply and demand. What gets complicated is evading the obvious, because it is politically painful.
One of the first things taught in an introductory economics course is supply and demand. When a growing population creates a growing demand for housing, and the government blocks housing from being built, the price of existing housing goes up.
This is not a breakthrough on the frontiers of knowledge. Economists have understood supply and demand for centuries — and so have many other people who never studied economics.
Housing prices in San Francisco, and in many other communities for miles around, were once no higher than in the rest of the United States. But, beginning in the 1970s, housing prices in these communities skyrocketed to three or four times the national average.
Why? Because local government laws and policies severely restricted, or banned outright, the building of anything on vast areas of land.
Doesn’t matter if they aren’t actively hiring locals and just relocating their tech bros and HB1 visas.
Maybe cause the schools here kinda suck
Hyperbole, party of one, you’re table’s ready.
Great that you’re making Miami into a tech scene. Just leave your politics in California so you don’t destroy our state either
What kind of politics are you talking about?
The kind that destroys innovation
Connor knows what he’s talking about.
Yeah, sure.. but I want him to explain what kind of politics destroys innovation or what is the innovation he’s talking about.
The high taxes of CA brought about the highest GDP of any state, so you’re making the argument for higher taxes in FL?
Oh no! Californias terrible politics made it the 5th largest economy in the world!
They also have a massive homelessness problem. People doing drugs in the streets. Robbing trains as they leave from port. But yes, the economy is indicative of what its like there
Years ago but it’s growth has been slowing down at an alarming pace. I know I use to live there. Their liberal failing ideologies are playing a detrimental role in its future
^ shut up.. your party is ruled by an ex-president who can’t stand the fact he didn’t get reelected.
And that’s why many California’s are fleeing? I guess common sense is not that common 🤦🏻♂️
Californians come and California’s go. That’s nothing new. You’re just a sorry repugnant.
The companies accepted a certain amount of taxes to a point. Even they now are starting to leave just like the residents
“Muh GDP” was the result of a post-war economic boom when California was solid red, and guess who was the most notable governor? It started falling apart around the early 1990s, but the dot-com boom was sort of a band-aid.
Taxes are taxing.
Taxes do not “bring about” the highest GDP of any state.
People in the private sector create goods and services and freely trade those goods and services.
Gov’t people, like parasites sucking blood from their host, extract taxes from those private sector people.
Often, the Gov’t takes money from people against their will. The OPPOSITE of a free exchange of goods and services. By penalty of jail, wage garnishment, foreclosure of private home, and other strong armed tactics.
Stop looking at it like that. Govt has a purposes to provide a equitable means of existence among those who live in the country, as well as protection, order, Building infrastructure, providing incentive to certain essential industries, etc. Without it you’d probably have been killed by a pyscho for smelling so bad
^ We’ve found the anarchist.
Nancy Pelosi’s kind of politics. You know, the one that resulted in more trash in the streets of California’s major cities.
What kind of politics did Nancy Pelosi make California agree to that resulted in more trash in the streets of their major cities?
What are you retarded? Read between the lines.
^ haha.. another bird chick who eats whatever Tucker Carlson regurgitates.
Liberal leftist democrat failing policies.
I’m actually pretty ignorant when it comes to what happened in California, I’ve been here my whole life, never really paid attention to this kind of stuff till recently. I would love for someone to help fill me in on what policy has created the mess that exists there. Thanks 🙂
That will be pretty hard to do. I mean, because you don’t see Democrats storming the Capitol Building in WA DC and fucking up the place while whipping the cops ass who’re paid to guard it like you saw Republicans do on TV.
Well then, stay there.
What kind of tech companies? The kind that create real value with innovative products and services or Crypto Ponzi Schemes and Ridiculous NFTs
Lower taxes, check. Fewer draconian measures related to COVID, check. Cheaper housing, yes for now. Better weather, debatable. More things to do, no – overall SF and Cali have better parks, museums, food options,and natural beauty. Better higher education, hell no. To keep up the reverse gold rush of young smart people, Miami should incentivize affordable housing for people making $80 to $200k, not just the Lucy Guo billionaires.
This might mean huge potential for Miami and a few other neighboring cities which includes new jobs, new opportunities for market booms, and possible real estate growth.
if you moved Stanford,Berkeley and USF to South Florida then perhaps… as is no way … another fluff piece
found the USF grad lmao
I read that shit five times and still couldn’t understand it.
It does have a top 5 ranked Med School
Who posted this? Mana? lol, I’ve never seen so much baseless tech hype in the name of increasing real estate values on properties that haven’t even been improved lol
Please send me the drugs this guy is on…let me guess, U of Miami will also pass Stanford and Berkeley in terms of programs and national stature. Moron statement.
When Stanford, Berkeley, MIT and/or Carnegie Mellon relocate to Miami I will jump on board the bandwagon.
What a joke
Hurry up FIU.. and build the 🆕 IoT
engineer lab building…It should be a catalyst in forming Miami’s talent…💎💎💎
I think SF/San Jose have nothing to fear from Miami.
Try ordering food in most restaurants in Miami with the Mensa challenged wait staff in which you have to repeat yourself 3 times and 1+1 = c-a-t and, again, SF and San Jose have nothing to fear.
Awe that’s cute, but no, just no. Not any time soon. The toxic social culture, weather (humidity and hurricanes), and poor infrastructure will keep out large-scale tech investment. SF is definitely on the decline, but relocating to the opposite coast with a lower elevation (climate change will engulf this region in the next half century) and out of control housing costs makes no sense.
We need big pharma in Miami!!! That’s where the money is now.
Do people realize as Florida keeps growing they will inevitably have to start taxing. How else is the government going to be expected to keep up with necessary investment to infrastructure alone.
The government simply needs to start implementing smart growth strategies. What I mean by that is build out say first downtown then coconut grove then Hialeah and so on where there is something of an infrastructure in place that can accommodate that traffic. I believe we should only allow building no more than 1 kilometer away from the Metrorail stations as a way to encourage public transit. And as public transit use increases we can start building out the rest of the Metrorail
Jesus, you have no idea how smart growth works. Downtown is already very attractive and highly incentivized for growth. You can’t force people to develop before they’re ready, and the commissioners will NEVER allow a moratorium.
No! NYS Budget is 200 billion NYC 100 billion while Fl is 100 billion with 2 million more residents….you don’t throw money at people you encourage work!
there is this thing called sales tax. That is where alot of the states revenue comes from. As does real estate tax. With more people coming the assessed value of real estate will increase and with more people here spending money sales tax revenue will go up
The county is known for undervaluing assessments to keep property taxes low. That’s why they show both an assessed and market value. The tax roll will increase with new development, but the percentage of assessed values to market values will likely stay low. This results in lots of lost tax revenue.
Yes, let’s keep it that way.
You’ve never heard of SOH or standard deductions??? That’s why there is a difference between market and assessed value.
Also, state tax is shared revenue in the state of Florida. The state collects the sales tax and gives it back equally 1/67th to each county. We don’t get to use all the sales tax revenue we generate. Someone has to help the rural counties, thanks to statutorily required parity.
You’re absolutely wrong. It’ll take to long to explain it to you. Just check out Texas
LOL, Sanford-educated mathematical genius here! As if more people doesn’t mean more taxes
collected at the same level means more money if allocated correctly, something left-wing governments don’t like.
Hey, genius, I said more people means more tax roll. The lost revenue is because we don’t increase taxes. Sorry your reading comprehension is pre-k. Under-assessing and relying on unsustainable growth is not the solution. Assessing properties adequately to generate funds for infrastructure or imposing user fees are the only way to keep up with municipal services and capital improvements. Y’all want everything for the cost of nothing.
Not if climate change has anything to do with it…
do come down but leave your progressive ideas in calif
Nobody would be that idiotic to vote for the same policies that led to the downfall of their previous cities. Right?
Never underestimate leftists.
Agreed. Why people voted down your comment is absurd because those people will leave Florida if they turn our “Promised Land” into California
California is still a powerhouse even after the pandemic exodus with one of the largest economies in the world. You think that happened with conservative policies? Florida needs progressive leadership like New York and California to get even close to their levels of development.
Tech was overwhelmingly successful in Cali because they essentially had a monopoly on the sector. That’s ending now. As will conflating modern progressive policy and the tech sector. People have seen into that abyss.
california has n’t always been ruled by the left , it had lots of republican governors. i believe republicans and center left politicians made california a great state but woke politicians like gavin newsom ruined it.
That’s why it’s going down because democrats are controlling every aspect of government now for years. That’s definitely enough time to ruin a formally great state
California was a red state until the 1990’s. No coincidence it’s been downhill ever since, except for the liberal elites.
Right, because all the companies moving from blue states like California and New York, to red states like Texas and Florida are doing so because the Andrew Gillums and AOCs of world are sooo pro-development!
No, come down and bring your progressive ideas to already liberal South Florida. If you don’t like it, move to the Redneck Riviera!
Anti-white racist much?
What the hell are you talking about. Florida is voting Republican for many years now. South Florida is turning red also
So you’re saying you wanna be led by the brain dead?
Ron DeSantis? No we don’t want to be led by him.
Biden is literally losing his mind by the day and the failing democrats know it. His poll numbers are the worst in 50 years. Even the fake liberal media can’t hide it anymore. The people dislike Biden so much because he’s doing a piss poor job and nothing you say can change that fact.
^ maybe Biden should’ve said “I’m building a wall and who’s going to pay for it?.. Canada!”
Yeah. When are we collecting from Mexico? Lol. Didn’t you feel doped after voting for that? Jim Jones comes to mind. Keep drinking that kool-aid, sheep.
Fake media? You mean Faux, OAN and Newsmax.
What do you mean, “we” and who instead? Charlie Christ? LOL, you would have been attacking him fifteen years ago.
You and all the people upvoting better remember this come November…
Then you should move to a rural area led by officials with conservative ideas!! It’s so ironic that readers like you are so pro-development and economic progress in Miami on these forums yet you want to maintain the conservative thinking that STIFLES progress. Who do you think all these high rise office buildings and apartments are built for? Every successful major city is built by highly educated, professional, and working-class people that want progressive leaders to promote development. We want to attract *progress* not regression…
These are the same people who are ready to ban books, have their children work in factories, and do whatever it takes to ‘own the libs’
The left is the one banning books by harassing publishers to sever book deals and retailers to pull them from shelves, and enabling children working in factories, if you recall ICE raiding factories operated by illegal children trafficked into the country.
You’re a disgusting pos.
If you took a poll of those working in those fancy downtown office buildings and living in those hi end condos, you would be suprised how many are non-progressive Republicans.
Yes. We’re aware there are tons of people who stole millions from their home countries, moved to America, and don’t want to pay taxes on the money they stole from their homeland.
This does not surprise anybody that’s been living in Miami.
“Stole millions from their home countries?” Let me guess, you think Castro and Chavez totally had a right to steal from their country’s citizens.
Wow, the elitist stench on you is strong.
So… basically how our government and many others are designed for equal representation; so plutocrats in cities can’t control everyone else in a feudalistic manner. If you don’t like it, move to California, where Sacramento is controlled by the same nuts who control Los Angeles and San Francisco.
Miami Tech Scene 'Growing Exponentially' & Will Eventually Surpass San Francisco, Investors Say – thenextmiami.com
Investors are lauding Miami for its recent growth as a tech hub, with some even saying it could surpass San Francisco.