Jan 3, 2026 06:03 PM
(This post was last modified: Jan 3, 2026 06:38 PM by C C.)
David Sacks sees 2 cities replacing NYC and SF as finance and tech capitals
https://www.msn.com/en-us/money/companie...r-AA1TsLDl
EXCERPT: Sacks kicked off a New Year's social media debate by declaring that Miami will overtake New York as the nation's financial capital — and that Austin is poised to replace San Francisco as the center of tech.
"As a response to socialism, Miami will replace NYC as the finance capital and Austin will replace SF as the tech capital," Sacks wrote in a January 1 post on X that ricocheted through tech and venture circles, drawing cheers from anti-coastal contrarians and sharp pushback from defenders of the old hubs.
Linda Yaccarino, the former CEO of X, responded to Sacks with the word "Miami" along with a fire emoji.
Garry Tan, who runs Y Combinator, the influential startup accelerator behind Airbnb, Stripe, and Dropbox, weighed in, saying the firm hasn't expanded beyond San Francisco because founders are still much more likely to build successful, product-market-fit unicorns in the region.
Tan recently said he would consider opening an Austin outpost if California moves forward with a proposed billionaire tax. The ballot measure would impose a one-time 5% levy on California residents with assets exceeding $1 billion and could go before voters in November if it qualifies.
Sacks urged Tan to reconsider, arguing that a Y Combinator outpost in Austin could become a "self-fulfilling prophecy." "If YC and others support Austin, it will be successful," Sacks said.
Musk replied simply, "Yes." The Pittsburgh-based venture capitalist Brandon Brooks said an Austin outpost "would be the biggest shift for the startup ecosystem in history." (MORE - details)
https://www.msn.com/en-us/money/companie...r-AA1TsLDl
EXCERPT: Sacks kicked off a New Year's social media debate by declaring that Miami will overtake New York as the nation's financial capital — and that Austin is poised to replace San Francisco as the center of tech.
"As a response to socialism, Miami will replace NYC as the finance capital and Austin will replace SF as the tech capital," Sacks wrote in a January 1 post on X that ricocheted through tech and venture circles, drawing cheers from anti-coastal contrarians and sharp pushback from defenders of the old hubs.
Linda Yaccarino, the former CEO of X, responded to Sacks with the word "Miami" along with a fire emoji.
Garry Tan, who runs Y Combinator, the influential startup accelerator behind Airbnb, Stripe, and Dropbox, weighed in, saying the firm hasn't expanded beyond San Francisco because founders are still much more likely to build successful, product-market-fit unicorns in the region.
Tan recently said he would consider opening an Austin outpost if California moves forward with a proposed billionaire tax. The ballot measure would impose a one-time 5% levy on California residents with assets exceeding $1 billion and could go before voters in November if it qualifies.
Sacks urged Tan to reconsider, arguing that a Y Combinator outpost in Austin could become a "self-fulfilling prophecy." "If YC and others support Austin, it will be successful," Sacks said.
Musk replied simply, "Yes." The Pittsburgh-based venture capitalist Brandon Brooks said an Austin outpost "would be the biggest shift for the startup ecosystem in history." (MORE - details)