that has emerged over the past few years: migration away from Silicon Valley, and, in particular, to Florida.
Thiel, the billionaire tech investor and cofounder of PayPal and Palantir, said that the Sunshine State has gotten too expensive on an episode of Bari Weiss's podcast,"We've thought some about moving our offices from California to Florida," he said."It's a tough thing to do at this point because the real estate prices in Florida have doubled and the interest rates have doubled.
"If you buy a house in Miami today versus just three years ago, you're paying four times as much in a monthlyThiel and a representative for his firm, Founders Fund, did not immediately responded to Insider's requests for comment. A flock of wealthy tech investors began flooding to Florida in 2020 and 2021, as remote work allowed people to move and take advantage of warm weather and lower taxes.of VC firms to open offices or expand their presence in the city, including Atomic and SoftBank.
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