The prominent Silicon Valley venture capital firm Andreessen Horowitz (a16z) just did something unprecedented: It is opening its first international office, in London. The move is remarkable since the firm has long preferred to keep its people close to the Sand Hill Road mothership, and reflects just how dire the U.S. regulatory environment has become for crypto—one of a16z's core businesses.
In a conversation with my colleague Leo Schwartz, partner Chris Dixon said the U.K. capital has "all the ingredients you want to see for an emerging tech hub" but also acknowledged what he views as the stark reality of the Biden administration trying to "kill" crypto. Meanwhile, Prime Minister Rishi Sunak shared the obligatory upbeat statement.
