Andreessen Horowitz shutters its Miami office after two years

Andreessen Horowitz shutters its Miami office after two years

Andreessen Horowitz (a16z) has closed a satellite office in Miami Beach just two years into a five-year lease it signed for an 8,300-square-foot space. The reason? Disuse, reports Bloomberg.

Miami ā€” once a hotspot for crypto, an area of interest for a16z ā€” has struggled to retain venture cash and entrepreneurial talent in recent years, Bloomberg notes, with venture investments dwindling to $400 million in Q2 2024 from $5.5 billion in all of 2022, per Pitchbook.

For a16z, the closure deals a blow to plans it outlined in 2022 to ditch a central HQ for ā€œglobal outpostsā€ in cities including NYC and Santa Monica. Pitched 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 ā€œnot a good lifeā€œ), the outposts were meant to ā€œbuild relationshipsā€ amid founders and help ā€œdevelop [a16zā€™s]ā€ culture.

Evidently, things didnā€™t go quite as planned in Miami.

Source @TechCrunch

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