David Sacks, an entrepreneur and investor who currently serves as the artificial intelligence and cryptocurrency czar for the Trump administration, predicted that Miami will replace New York City as the nation’s financial capital.
New York City has long been home to the country’s most important banks and financial institutions, serving as a key hub for the global economy.
But amid a stifling business and tax environment as well as elevated crime rates — which many believe will worsen under New York City Mayor Zohran Mamdani — some businesses have looked to expand beyond the Big Apple.
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“As a response to socialism, Miami will replace NYC as the finance capital and Austin will replace SF as the tech capital,” Sacks predicted on Jan. 1, the day
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