Inspiration from a new US financial center

In partnership with

Shifting American Finance Hubs

Today we think of New York City as the financial capital of America, but it wasn’t always that way. It wasn’t until 1836 when Second Bank of the United States failed to renew a charter that New York overtook Philadelphia as the leader in American finance. With the once lively NYSE trading floors now electronic, could the financial capital of America shift again?

Billionaire Ken Griffin recently moved his Hedge Fund empire from Chicago to Miami and believes that Miami could replace New York as the global financial capital saying “New York is the financial capital of America today” but “Miami represents the future of America."

How can we use the shifting of America’s financial capital to motivate us?

Never be complacent: If we don’t evolve the world will pass us by, just like New York did to Philly. On our running journeys and generally, constant challenges are a good thing. Let’s celebrate accomplishments, but not get complacent.

Lean into our strengths: Miami isn’t just trying to build a replica of New York (although it did copy the bull statue), it’s leaning into the unique strengths of the city like beautiful weather and beaches to attract capital, companies and talent. Similarly, we can leverage our strengths to fuel our running journeys. Observe and copy parts of others but keep the focus on what makes us unique.

The happiest people are agnostic to change: Instead of focusing on the downside of change, concentrate on the improvements that it makes possible. The Greek philosopher Heraclitus once observed that, “the only constant is change.” Quickly adapting to new surroundings provides improved opportunities for increased happiness.

The future is bright! Have a great week.