Miami is continuing to attract a major amount of investment and capital, a prominent investor said.
Jack Abraham, who is the CEO of Atomic Labs, made the comments in an interview yesterday with CNBC.
According to Abraham, Miami is “somewhat insulated from the larger economy.”
Abraham said that real estate was still going up in Miami, while it is going down in other major U.S. markets.
He also said that venture capital investment in Miami was up sharply in the past year, while it is down in other major U.S. tech locales.
“I like to think of Miami as a viral product with very high retention,” Abraham said, noting that his friends who had tried Miami had stayed. “I don’t know anyone who’s gone back to Silicon Valley or New York.”