Apollo and FC Barcelona just proved legacy markets are losing their grip on business

Just this week, two very different global institutions made the same telling decision. Apollo Global Management, one of the world’s largest investment firms, and FC Barcelona, one of the most recognized sports brands, both announced moves away from New York City in search of more favorable operating environments.

For decades, states like New York and California were the unquestioned centers of economic ambition. If you wanted to build a company, scale a financial institution or anchor a global brand, those were the places to be. That assumption is beginning to change.

The issue is not any single policy. It is the cumulative effect: layers of regulation, rising costs, complex compliance requirements and permitting timelines that introduce uncertainty into basic business decisions. These systems were often built with sound intent. But over time, they have made it harder for companies to move with speed and clarity. At a moment when flexibility and execution matter more than ever, that friction carries a real cost.

In Florida, a different pattern is emerging. I lead the Florida Council of 100, a nonprofit that brings together the state’s top business executives, and our Q1 2026 CEO Economic...