Two years into a five-year lease for an 8,300-square-foot space, Andreessen Horowitz (a16z) closed a satellite office in Miami Beach
The rationale? Disuse, according to Bloomberg.
Bloomberg reports that in recent years, Miami, once a hub for crypto and a topic of interest for a16z, has encountered difficulty retaining entrepreneurial talent and venture capital. According to Pitchbook, venture investments decreased from $5.5 billion in 2022 to $400 million in Q2 2024.
For a16z, the closure is a setback to its 2022 strategy of abandoning a central headquarters in favor of “global outposts” in locations such as Santa Monica and New York City.
The outposts were intended to “develop [a16z’s]” culture and “build relationships” among founders as an antidote to the remote working arrangements that became commonplace during the pandemic, which a16z co-founders Ben Horowitz and Marc Andreessen once derided as “not a good life.”
Miami did not proceed as anticipated.
