Geeks on a Plane Search for Startups

It’s Thursday night in the heart of Miami’s financial district. At Novecento, a buzzing bistro, salsa and flamenco music blast while waitresses circulate Malbec and mojitos. Businessmen in fitted European suits survey the scene.

In walks angel investor Dave McClure, fresh off a flight from San Francisco. People rush to shake his hand as he makes his way into a private room packed with bankers, programmers, and executives. After a welcome from the mayor of Miami-Dade County, McClure, clad in jeans and a wrinkled blazer over a faded red T-shirt, takes the podium to talk about his impending tour of South America. Foreigners, he tells the audience, like to complain about their countries’ lack of Silicon Valley-like entrepreneurship. “Bull-s–t!” thunders McClure. “You’re the one that’s full of s–t! You’re the one not investing in your entrepreneurs.”