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- Andreessen Horowitz has reportedly stopped using its Miami office after just two years.
- The VC firm left the office because staff didn’t come in enough, Bloomberg reports.
- It’s a signal that the tech and crypto migration to Miami in recent years may be short-lived.
Andreessen Horowitz has reportedly given up on its Miami office after just two years in the space.
The Silicon Valley venture capital firm, also known as a16z , left its Miami Beach office in May because staff “weren’t using it enough,” Bloomberg reported Wednesday, citing people familiar with the matter. The company had signed a five-year lease in 2022 for 8,300 square feet of space in Miami Beach, the news outlet reported.
The move comes after one of Andreessen Horowitz’s cofounders, Ben Horowitz, announced in July 2022 that the firm was switching to a “new operating model” that involved a network of satellite offices, including new locations in Miami Beach, New York City, and Santa Monica.