Florida
Florida tech and crypto boom flags as Andreessen Horowitz quietly shutters Miami outpost
When Andreessen Horowitz opened an outpost in Miami Beach, the $43 billion venture capital giant bolstered the region’s ambitions of becoming a tropical tech mecca.
Two years and a crypto meltdown later, that office has been quietly shuttered.
Andreessen Horowitz exited the space in May because employees weren’t using it enough, said people familiar with the matter, who asked not to be named citing private discussions. In 2022, the firm had signed a five-year lease for 8,300 square feet (770 square meters) in Barry Sternlicht’s Miami Beach office building at 2340 Collins Ave.
The departure underscores the potential weakness of Miami’s staying power after the city lured a rush of finance and tech companies in recent years. Shortly after Andreessen Horowitz said it was opening the office, Miami’s crypto dreams began to crumble with the implosion of Sam Bankman-Fried’s FTX.
A representative for Andreessen Horowitz confirmed that the firm no longer has a Miami office but declined to comment further.
Venture capital money flowing to Miami has flagged since 2022. Miami-based companies brought in $400 million in the second quarter, compared with $5.5 billion for 2022 as a whole, according to PitchBook data.
By contrast, the artificial intelligence boom has given San Francisco even more of an edge as a tech capital. In the second quarter, companies in the Bay Area got $18.7 billion in venture capital funding.
Andreessen Horowitz tried to keep the Miami offices going past the 2022 crypto rout, with partner Chris Lyons giving a tour of the facilities on Instagram in May 2023.
The Menlo Park, California-based firm manages $7.6 billion in crypto-related assets and employs a team of more than 100 to bankroll emerging startups and manage existing bets on dozens of crypto startups. The company expects to raise a new cryptocurrency-focused fund in 2025, Bloomberg reported in April.
The former Andreessen Horowitz office is now occupied by contact-lens maker Bausch + Lomb Corp., said Brandon Charnas of Current Real Estate Advisors. He facilitated the deal with the new tenant along with Kevin Gonzalez and Stephen Rutchik of Colliers.
“There was a lot of hype around promoting crypto in Miami, but crypto had a small office presence even at its peak,” Gonzalez said.
He estimated that crypto companies only ever occupied about 70,000 square feet of office space around the Miami area.
“We’re not seeing a ton of crypto companies saying they need an office space in Miami,” said Charnas, who worked with Andreessen Horowitz on its original lease. “We’re seeing more interest from family offices, investors and private equity.”
In our new special issue, a Wall Street legend gets a radical makeover, a tale of crypto iniquity, misbehaving poultry royalty, and more.
Read the stories.
Gisele Bündchen and her boyfriend, Joaquim Valente, soaked up the sun during a jet skiing date in Florida.
The model and the MMA athlete appeared in good spirits while on the water near their home in Surfside on Saturday.
They both stayed close to each other and sported life vests.
Bündchen, 35, appeared to be wearing a white one-piece bathing suit underneath her vest.
She accessorized with sunglasses and styled her hair in a ponytail.
As for Valente, he sported black swim trunks.
The couple, who have been romantically linked since 2023, enjoyed some quality time together after welcoming a son together in February.
While Bündchen and Valente have shied away from revealing too much about their infant, they recently took him out on a boat ride in September.
At the time, the former Victoria’s Secret model was seen cradling her son while her beau took the wheel.
Valente then adorably held onto their 10-month-old, as Bündchen watched in awe.
The health guru also shared a rare glimpse of her son alongside her 16-year-old son, Benjamin, in October.
The teenager adorably held onto his little brother while playing the piano.
Bündchen shares Benjamin and her daughter Vivian, 13, with her ex-husband, Tom Brady.
The exes were wed from 2009 to 2022.
The former NFL star also shares an 18-year-old son, Jack, with his ex Bridget Moynahan.
The Florida High School Athletic Association (FHSAA) football state championships continued last night down in Miami at Pitbull Stadium as the Raines Vikings upset the Northwestern Bulls for the the Class 3A state championship, provind the most exciting game of the week thus far. Another rematch from last year’s finals pits the American Heritage Patriots versus the Jones Tigers for the Class 4A state championship this afternoon. We preview the sixth of seven FHSAA state championship games as teams begin being crowned as champions of their classifications.
How to Watch American Heritage vs. Jones in Florida 4A state championship game
Date: Saturday, Dec. 13
Time: 12:30 p.m. ET
Location: Pitbull Stadium in Miami, Fla.
TV Channel: NFHS Network
American Heritage Players to Watch
QB Leon Strawder: Strawder is making his second consecutive appearance in a state championship game, this time with a different team, however. The senior has thrown for 2,052 yards and 19 touchdowns.
WR Jamar Denson: Of the star-studded wide receiving corps for American Heritage, its Denson who has been Mr. Reliable thus far this season. Throughout the course of the season, Denson has hauled in 69 passes for 991 yards and 15 touchdowns.
WR Jeffar Jean-Noel: The Georgia Tech commit has been the second option behind Denson on offense, with Jean-Noel catching 57 passes for 795 yards and six touchdowns.
LB Dylan Bennett: Anchoring the front seven of the Patriots’ defense is the senior linebacker, who currently leads the team with 61 total tackles, 17 them going for a loss and five sacks.
Jones Players to Watch
QB Dereon Coleman: The Miami signee is as calm as they come in the pocket as the senior quarterback has thrown for 2,749 yards, 28 touchdowns and only three picks this Florida high school football season.
WR Larry Miles: Coleman’s favorite target to throw to is the Nebraska signee as the senior looks to end his high school career with a state crown. Miles has caught 88 passes for 1,111 and 10 touchdowns.
OL Xavier Payne: The 6-foot-7, 275-pound Colorado offensive tackle signee will have the job of making sure Coleman stands upright throughout the afternoon against American Heritage’s pass rush.
EDGE Frederick Ards: The 2027 four-star EDGE rusher for the Tigers has been superb, racking up 73 tackles, 13 for loss and 11 sacks.
Where to Watch the Florida Class 4A state championship on livestream:
You can watch the American Heritage Patriots take on the Jones Tigers starting at 12:30 p.m. ET on NFHS Network.
For Florida high school football fans looking to keep up with scores around the nation, staying updated on the action is now easier than ever with the Rivals High School Scoreboard. This comprehensive resource provides real-time updates and final scores from across the Sunshine State, ensuring you never miss a moment of the Friday night frenzy. From nail-biting finishes to dominant performances, the Rivals High School Scoreboard is your one-stop destination for tracking all the high school football excitement across the state of Florida.
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