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Feliz viernes. Wherever you’re reading this from, I hope it’s somewhere inspiring. For decades, if you wanted to build the future, there was one place to be, the Bay Area. But change is happening. The best ideas - and the brightest minds - are no longer tethered to a few overpriced zip codes. New tech hubs are emerging, and the center of gravity for innovation is shifting. I’ve seen it firsthand. The decentralization of talent is real, and its changing the very fabric of how and where new technology and ideas are being built. Founders are popping up in places that, just a few years ago, might have seemed like unlikely hubs for innovation.
San Juan, Puerto Rico
I lived in Puerto Rico’s capital for a few months at the end of last year, and saw firsthand how it has become a magnet for blockchain entrepreneurs and crypto-native startups. The combination of tax incentives, a thriving remote work culture, and a growing web3 scene has turned Puerto Rico into a serious contender for tech talent looking to escape traditional hubs like the Bay Area and New York City.
Puerto Rico has a rich and complex history. First colonized by Columbus and the Spaniards in 1493, the island became a crucial economic and military outpost for Spain. The strategic location in the middle of the Caribbean made it a key chokehold for trade and military operations, and many fortifications were constructed to defend against attacks from the British, Dutch and French. Throughout the nineteenth century, a distinct Puerto Rican identity emerged, as did growing calls for autonomy from Spain. Following the Spanish-American War in 1898, Puerto Rico was ceded to Uncle Sam through the Treaty of Paris and became an unincorporated territory.
Since then, Puerto Rico’s public and private sectors have implemented several strategic initiatives to transform San Juan into a thriving tech ecosystem. Each is important by itself, but the whole is greater than the sum of its parts.
Tax Incentives: The enactment of Acts 20 and 22 by the Puerto Rican government, now consolidated under Act 60, offers significant tax benefits to businesses and individuals. These incentives have attracted numerous crypto entrepreneurs and investors to the island.
Capital Formation: The Puerto Rico Science, Technology, and Research Trust, established in 2004, has been pivotal in fostering innovation and supporting tech startups. By providing funding and resources, the Trust has played a crucial role in nurturing the local tech ecosystem. Additionally, regional investment DAOs such as Sí Dao exist to support ambitious founders in the web3 space with capital and connectivity to the local community and infrastructure. Angel investors are active as well.
Community: Networking events, IRL meetups and the sharing of knowledge are now common in San Juan. I frequently attended events hosted by the San Juan chapter of CryptoMondays, where guests ranged from seasoned VC and token investors to notable web3 entrepreneurs and crypto newbies alike. The one thing in common across all attendees was a passion for blockchain technology and a desire to promote the ecosystem of builders and financiers in the region.
Medellin, Colombia
Then, there’s Medellín, where I’m currently writing this from (It’s 75 degrees, blue skies, and I’m sitting on the rooftop terrace of my AirBNB). Once infamous for all the wrong reasons, it has transformed into one of Latin America’s most exciting emerging tech ecosystems, even dubbing itself as “the Silicon Valley of South America.” With a low cost of living, a stunning natural backdrop, and a burgeoning AI and crypto community, Medellín has become a hotspot for digital nomads, expats and ambitious entrepreneurs alike.
Key to this rise has been the establishment of institutions like Ruta N, a government-backed innovation hub that has attracted over 300 international tech companies and created thousands of jobs since its inception. The city’s focus on education, with programs fostering digital talent and partnerships with global universities, has cultivated a skilled workforce eager to tackle emerging technologies. Additionally, Medellín’s strategic geographic location, supportive government policies, and investments in digital infrastructure have made it an attractive destination for startups and investors.
Medellín has carved out a niche by embracing blockchain and decentralized technologies as pillars of its tech identity. The city has become a hotspot for blockchain innovation, with companies like Ripple establishing a presence to drive collaboration and knowledge exchange, particularly in areas like DeFi and NFTs. Events like Cosmoverse have brought global web3 leaders to Medellín, fostering a culture of community and cooperation that aligns with the ethos of decentralization. Local initiatives, such as ReFi Medellín, focus on using web3 for social and environmental impact, like digitizing carbon credits and enhancing financial inclusion through CBDCs. The city’s openness to experimentation, coupled with a growing base of tech-savvy youth, has positioned Medellín as a leader in Latin America’s web3 revolution, proving that innovation can thrive far from traditional tech hubs.
Digital decentralization = physical decentralization
The appeal of these emerging hubs isn’t just about escaping high rents and long commutes, though that certainly helps. It’s about the quality of life, global connectivity, and the realization that talent and innovation aren’t bound by geography anymore. The internet untethered knowledge work from physical locations, and now the next wave of founders is embracing that freedom in a very real way.
The decentralization of talent in web3, specifically, mirrors the very ethos of the technology itself. Just as blockchains remove reliance on central authorities and companies (replacing banks with smart contracts and platforms with protocols), builders in web3 are unshackling themselves from traditional tech hubs. In the same way that web3 enables a permissionless internet, it’s also enabling a borderless and distributed workforce.
Of course, the Bay Area and NYC aren’t going anywhere. They still hold advantages - deep pools of capital, legacy networks and an undeniable gravitational pull for certain types of startups. But the duopoly is coming to an end. The next wave of breakout companies might just as easily be built from a beach in Puerto Rico or a co-working space in Colombia as they are a Bay Area garage.
The question isn’t whether this shift is happening, but how fast. More talent is opting for flexibility, new environments, and a global-first mindset. The decentralization of innovation isn’t just a trend, but the new reality. And from what I’ve seen, the world is more than ready for it.
"So what is this gap in your resume from 2021-2025?"
"I was uh involved with several experimental fintech communities that were part of uhm an emerging economic movement"
"I was uh involved with several experimental fintech communities that were part of uhm an emerging economic movement"
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After 3+ years, the SEC has officially closed its investigation into Yuga Labs.
This is a huge win for NFTs and all creators pushing our ecosystem forward. NFTs are not securities.
This is a huge win for NFTs and all creators pushing our ecosystem forward. NFTs are not securities.
