Founders Fund general partner Keith Rabois has wanted to leave SF for a long time. Ironically enough, the pandemic made it possible for him to do so.Founders Fund general partner Keith Rabois believes that San Francisco's taxes are too high and doesn't like what he sees as its high crime levels and failing public school system.
The famed investor is now moving to Miami in December, where he hopes to distance himself from the Bay Area's liberal political culture. Keith Rabois has wanted to leave San Francisco for a long time. He pays taxes he believes are egregiously high with, he feels, only a failing public school system, rampant crime, and terrible commutes to show for it, he told Business Insider.
The outspoken investor is now a general partner at Founders Fund, where he works with his early PayPal mentor Thiel. Rabois was referring to the tremendous concentration of founder and engineering talent in the Bay Area, which has made Silicon Valley the undisputed center of the tech universe for decades. Prior to now, he said it was "psychologically difficult" for him to imagine a great startup being built anywhere else.
"The idea that there's this powerful network effect in the Bay Area was already eroding," he explained.
❶ Unicorn investor Keith Rabois says tech talent is fleeing Silicon Valley and successful startups will now be built elsewhere🔴 ❷ Not just Miami, but outside the US, Canada & beyond, and HR short-term pragmatism is a big reason🔴
Great. Another coastline-blocked city, bounded also by the Everglades, with no physical space for growth, where invading new tech companies can further destroy the cost of living and displace average income residents. Yippy!
horrible
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