Keith Rabois – former CEO of Square and PayPal

ABOVE VIDEO: Keith Rabois on China’s Big Plan, Taiwan, Big Tech & More.

(FOX BUSINESS) – Tech titan Keith Rabois announced this week that he is leaving California’s Silicon Valley and moving to the florid metropolis of Miami.

Rabois, a former executive at companies like Square and PayPal, announced the decision at the Financial Meridian conference on Tuesday.

“I think San Francisco is being run and administered so badly that it’s impossible to stay here,” he told Fortune’s Robert Hackett.

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

Rampant homelessness and relentless forest fires have shaped longtime residents of the Bay Area in recent years. The strain of coronavirus only adds weight to cities that are already under duress.

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