“Miami, Florida will be a Silicon Valley.”
People around the world, not just here in Miami, are saying that.
What I am saying is, “Don’t limit us that way. Already Miami is beyond Silicon Valley. We are the Web3
Frontier. What we have created is unique. And the momentum for more is high-octane.”
Like all revolutions, Web3 is disrupting what had been. Silicon Valley had established much of that “had
been.” When I worked in tech in Silicon Valley, I saw the good, at least what was positive at that time in tech history.
At the top of the list was the willingness to experiment. That willingness to try out new
things is embedded in this city shaped by immigrant vision, courage, and energy.
I also saw in Silicon Valley tech’s ugly underbelly. During the trial for “US v Elizabeth Holmes,” the media
fingered that as “hubris” and “hype.” Unfortunately, I don’t project that the guilty verdict in “US v
Elizabeth Holmes” will change those mores in the Bay Area – at least, not much.
That hardening of values could be what is triggering the tarnishing of the Silicon Valley brand. MoveBuddha documents that moves into Silicon Valley had plunged among 50 percent. Simultaneously, moves into Miami had
increased about 145 percent.
Miami is not the “Next Silicon Valley.” Under the leadership of Miami Mayor Francis Suarez, we are
building a whole new kind of tech infrastructure or eco-system.
That comes complete with a diverse culture of Latinos like myself, other ethnic groups, Blacks, Whites, males, females, Miami natives, and newcomers. We form “Dream Teams” in which we are all-in without ego, hungry to learn from each other.
The result has been downright magical, to use that very un-tech concept. Web3 is unfolding in
unanticipated ways. For instance, art and crypto have evolved into a seamless niche in Miami.
In fact, D Central Miami, a major in-person NFT (Non-Fungible Tokens) and DeFi (Decentralized Finance)
conference, and Art Basel, the biggest art event in the US, took place on Miami soil simultaneously.
Nationally, the Miami branding is as the NFT hot spot. Blacklove is our first NFT gallery. That fusing of art
and tech did not happen in Silicon Valley. That culture was too rigid to facilitate such an integration. We
are wide open.
Among the blockchain startups here are Recur, CBlocks, Real T, Rokk 3 r Labs, Yes Man Enterprises,
Asroc, Bitstop, Beta Block Company, and Quick Mode. Also, new kinds of value are being created by
those who entered tech through entertainment and fashion.
Corporate types would call that “synergy.” Directly and by osmosis our particular type of Web3 is absorbing the creativity of the Latin American
cultural hubs.
Mayor Suarez’s tech evangelism extends to the mission of attracting leaders in the investment
community. Cryptocurrency venture capitalist Michael Arrington, who had founded TechCrunch, has
made Miami his forever home. At the La Casa Miami crypto event Arrington was bullish on bitcoin.
He designated that as the only asset in the world which could be counted on. Early investor in PayPal and
LinkedIn Keith Rabois of venture-capital Founders Fund has partnered with Mayor Suarez.
In a tweet, venture capitalist Delian Asparouhov said, “ok guys hear me out, what if we move silicon valley to Miami?” Mayor Suarez tweeted back, How can I help?” I like to envision our mayor as The Great
Conduit.
The future looks amazing for the ability of Miami to continue to attract entrepreneurs, software
engineers, managers, artists, financial experts, and investors who are the front lines of Web3.
In Miami, there is no state income tax.
In this time of wild inflation, the cost of living is manageable. Also, startups can afford to hire top talent. In Silicon Valley, after state taxes, the wages for a software engineer are about $178,00. In Miami, that’s about $150,000.
There are the beaches. The legacy of immigration has made the social system fluid, that is, it is relatively easy to make friends.
Even in this era of remote everything and the virtual metaverse, proximity still counts. From Miami the
tech hubs of New York, Boston, and Austin are reachable.
There is that old saying: A rising tide lifts all boats. The economic success of all the moving parts of Web3
in Miami will, in itself, provide a concrete solution for some deep-rooted financial challenges. That is not
utopian thinking.
Actually, just monetizing video games can create a good living for those who traditionally had been shut out of the “system.” Web3 eliminates much of that system.