Tech titan flees San Francisco for Florida, says city is poorly managed

Tech titan Keith Rabois announced this week that he is leaving California’s Silicon Valley and moving to the Floridian metropolis of Miami.

Rabois, formerly an executive at companies like Square and PayPal, announced the decision during Tuesday’s financial Meridian conference.

“I think San Francisco is just so massively improperly run and managed that it’s impossible to stay here,” he told Fortune’s Robert Hackett.

A recent report from real estate firm FCP and analytics group Orbital Insight said South Florida is one of the top destinations for Americans moving during the COVID-19 pandemic.

Rampant homelessness and relentless wildfires have colored the last few years for longtime Bay Area residents. The strain of the coronavirus only adds weight to cities already under duress.

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