Tech’s Love Affair With Miami

Keith Rabois minted his wealth with Elon Musk, Peter Thiel and other members of the so-called “PayPal Mafia.” Now, though, he’s moved to Miami and become one of the city’s biggest hype men. He believes Florida — which has already seen an influx of tech bros, venture capital investments and cryptocurrency plays during the pandemic — offers a better home to tech than California can, largely because of the politics. He tells Kara Swisher: “The mayor of Miami, the governor of Florida treat citizens like customers. ‘What can we offer you? How can we help?’ That’s their goal, and that’s how they frame everything.” In this conversation, Kara presses Rabois whether tech’s doubling down on Florida is all just about escaping high taxes. They also discuss whether venture capital is what investment banking was in the 2000s. And they catch up on the news, from stock fall-offs in big tech to why Peter Thiel will be stepping down from Meta’s board. You can find transcripts (posted midday) and more information for all episodes at nytimes.com/sway, and you can find Kara on Twitter @karaswisher.