[NickC25]

>The reason these CEOs go to NYC is because that is where the talent and economic clustering is: if these high-net-worth individuals could get the talent they need to run their firms in Miami and Austin, they would have done so already. They have tried and they have failed up until this point.

This needs to be shouted from the rooftops.

I am from NYC and live in Miami.

I have seen hedge funds try and fail to bring talent down here, and paying talent through the nose to convince them. It has failed, because 1. local private schools won't let Ken Griffin buy his way to the front of the line; and 2. there's no local talent pipelines to recruit from that come even remotely close to what is found in the Northeast, or in the Bay Area.

UM pales in comparison to the fact that almost every Ivy League school is within a 3 hour drive of NYC, not counting other strong school (NYU, NEASC colleges, MIT, etc). FIU or UF isn't even in the same stratosphere.

Taxes pay for the establishment of a strong educational foundation so that even local public schools can send kids to Ivies or top colleges. Taxes pay to keep that going.