Beautiful Virgin Islands

Tuesday, Sep 16, 2025

Tech titan flees San Francisco for Florida, says city is poorly managed

Tech titan flees San Francisco for Florida, says city is poorly managed

Tech titan Keith Rabois announced this week he is leaving California's Silicon Valley and moving to the Floridian metropolis of Miami. 

Rabois, formerly an executive at companies like Square and PayPal, announced the decision during Tuesday's financial Meridian conference.

“I think San Francisco is just so massively improperly run and managed that it’s impossible to stay here,” he told Fortune's Robert Hackett.

A recent report from real estate firm FCP and analytics group Orbital Insight said South Florida is one of the top destinations for Americans moving during the COVID-19 pandemic.

Rampant homelessness and relentless wildfires have colored the last few years for longtime Bay Area residents. The strain of the coronavirus only adds weight to cities already under duress.


The 51-year-old New Jersey native has lived in the Bay Area for 20 years. He pointed out that many have taken similar actions over the past couple of years.

The Bay Area -- once known for the garages of technology greats -- has seen the departures of PayPal's Peter Thiel and Palantir's Alex Karp and Joe Lonsdale, or what some call a "tech exodus."

Rabois explained that the pandemic gave him the push he needed to get out the proverbial door -- noting any hesitancy was "more psychological than real.”

In addition, the investor explained that he had observed Americans' changing habits over the course of the year, asserting that residents of heavily-populated and pricey cities have been exposed to the "downsides" of urban life during the pandemic.

“Bay Area searches for rent are in free-fall, they’re down like 30%,” Rabois added.

"It’s very clear right now, people are shifting their preferences pretty massively,” he said, though noting attitudes could shift once a vaccine is introduced to the public.

A remote work environment has also played a role, with workers in hubs like New York City opting for cheaper rents as long as they are allowed to work from home. Many companies are making that option permanent.

However, census data reportedly shows that 5.4% fewer people left California last year for other states.

Nevertheless, Rabois said he's headed to the warm climate of Miami. It's currently 78 degrees there and just 58 degrees in the Golden Gate City.

“Miami is an incredibly beautiful city, cosmopolitan, has an interesting mix of New Yorkers, Latin Americans, and Europeans,” he told conference members.

“Living in the Bay Area for 20 years, it’s just like, all the things you wish you had,” Rabois concluded.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
U.S. and Britain Poised to Finalize Over $10 Billion in High-Tech, Nuclear and Defense Deals During Trump State Visit
China Finds Nvidia Violated Antitrust Laws in Mellanox Deal, Deepens Trade Tensions with US
US Air Force Begins Modifications on Qatar-Donated Jet Amid Plans to Use It as Air Force One
Pope Leo Warns of Societal Crisis Over Mega-CEO Pay, Citing Tesla’s Proposed Trillion-Dollar Package
Poland Green-Lights NATO Deployment in Response to Major Russian Drone Incursion
Elon Musk Retakes Lead as World’s Richest After Brief Ellison Surge
U.S. and China Agree on Framework to Shift TikTok to American Ownership
London Daily Podcast: London Massive Pro Democracy Rally, Musk Support, UK Economic Data and Premier League Results Mark Eventful Weekend
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Le Pen Tightens the Pressure on Macron as France Edges Toward Political Breakdown
Musk calls for new UK government at huge pro-democracy rally in London, but Britons have been brainwashed to obey instead of fighting for their human rights
Elon Musk responds to post calling for the murder of Erika Kirk, widow of Charlie Kirk: 'Either we fight back or they will kill us'
Czech Republic signs €1.34 billion contract for Leopard 2A8 main battle tanks with delivery from 2028
USA: Office Depot Employees Refused to Print Poster in Memory of Charlie Kirk – and Were Fired
Proposed U.S. Bill Would Allow Civil Suits Against Judges Who Release Repeat Violent Offenders
Penske Media Sues Google Over “AI Overviews,” Claiming It Uses Journalism Without Consent and Destroys Traffic
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
French Debt Downgrade Piles Pressure on Macron’s New Prime Minister
US and UK Near Tech, Nuclear and Whisky Deals Ahead of Trump Trip
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
Anesthesiologist Left Operation Mid-Surgery to Have Sex with Nurse
Tens of Thousands of Young Chinese Get Up Every Morning and Go to Work Where They Do Nothing
The New Life of Novak Djokovic
The German Owner of Politico Mathias Döpfner Eyes Further U.S. Media Expansion After Axel Springer Restructuring
Suspect Arrested: Utah Man in Custody for Charlie Kirk’s Fatal Shooting
In a politically motivated trial: Bolsonaro Sentenced to 27 Years for Plotting Coup After 2022 Defeat
German police raid AfD lawmaker’s offices in inquiry over Chinese payments
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Volkswagen launches aggressive strategy to fend off Chinese challenge in Europe’s EV market
ChatGPT CEO signals policy to alert authorities over suicidal youth after teen’s death
The British legal mafia hit back: Banksy mural of judge beating protester is scrubbed from London court
Surpassing Musk: Larry Ellison becomes the richest man in the world
Embarrassment for Starmer: He fired the ambassador photographed on Epstein’s 'pedophile island'
Manhunt after 'skilled sniper' shot Charlie Kirk. Footage: Suspect running on rooftop during panic
Effective Protest Results: Nepal’s Prime Minister Resigns as Youth-Led Unrest Shakes the Nation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
King Charles and Prince Harry Share First In-Person Moment in 19 Months
Starmer Establishes Economic ‘Budget Board’ to Centralise Policy and Rebuild Business Trust
France Erupts in Mass ‘Block Everything’ Protests on New PM’s First Day
Poland Shoots Down Russian Drones in Airspace Violation During Ukraine Attack
Brazilian police say ex-President Bolsonaro had planned to flee to Argentina seeking asylum
Trinidad Leader Applauds U.S. Naval Strike and Advocates Forceful Action Against Traffickers
Kim Jong Un Oversees Final Test of New High-Thrust Solid-Fuel Rocket Engine
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Macron Appoints Sébastien Lecornu as Prime Minister Amid Budget Crisis and Political Turmoil
Supreme Court temporarily allows Trump to pause billions in foreign aid
Charlie Sheen says his father, Martin Sheen, turned him in to the police: 'The greatest betrayal possible'
Vatican hosts first Catholic LGBTQ pilgrimage
×