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Not Everyone's Leaving San Francisco

Low-tax states are luring away large tech companies, but smaller startups may be slower to decamp. 

Emissions Testing And Traffic As NHST Proposes Freezing Fuel Efficiency Requirements
Photographer: David Paul Morris/Bloomberg

Hi, Sarah McBride here. Tech investor Shervin Pishevar tweeted out a picture of a golden sunset over the ocean last week. In the image, beachside skyscrapers stood visible in the distance. The caption read: “Siri, move me to Miami.”

The picture would soon be a billboard, Pishevar said, “coming to a city near you.” In recent months, Miami has been having a moment. Venture capitalist Keith Rabois said he was moving there, as did VC David Blumberg. Meanwhile Goldman Sachs is considering transplanting its asset management arm to South Florida and Elliott Management Corp. is moving its whole headquarters.