Inside Miami’s Trillion-Dollar Tech Industry
Not many of us will, in our lifetimes, experience a trillion of anything. So let’s put the number in perspective. A trillion is a 1 married to a dozen zeros. It’s a million millions. It’s a thousand billions. A trillion is a number so big it’s borderline unfathomable.
So, now that we better understand the magnitude of a trillion, consider this: Since early 2020, South Florida has reportedly seen $1 trillion in new assets come to town.
There are lots of reasons for this massive, unprecedented increase in such a short time—lax pandemic rules compared to other states, relatively low taxes, and heck, maybe even the likability of the Miami Heat. But there’s one reason that stands out among all others: South Florida is in the midst of a tech boom.
How did we somehow end up with a trillion-dollar increase in just 16 months? The answer is both obvious and ambiguous, sometimes credited to one man or nobody at all. We do, however, know exactly when the world started watching. And it all began with four words.