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Andreessen Horowitz ( a16z ) has close a orbiter authority in Miami Beach just two days into a five - class lease it signed for an 8,300 - square - foot infinite . The reason ? Disuse , reportsBloomberg .
Miami — once a hot spot for crypto , an area of interest for a16z — has struggled to retain venture cash and entrepreneurial talent in recent long time , Bloomberg notes , with venture investments dwindling to $ 400 million in Q2 2024 from $ 5.5 billion in all of 2022,perPitchbook .
For a16z , the block deals a reverse to plans itoutlinedin 2022 to trench a key HQ for “ global outposts ” in metropolis admit NYC and Santa Monica . Pitched as an antidote to the remote workings arrangements that became shopworn during the pandemic ( which a16z co - founder Ben Horowitz and Marc Andreessen once derided as “ not a good liveliness “ ) , the outstation were meant to “ build relationships ” amid founders and help “ build up [ a16z ’s ] ” culture .
obviously , thing did n’t go quite as planned in Miami .
