When you realized you're not going to get sex, you go home and masturbate. Likewise, when you realize you really aren't the best basketball player of all time, and you don't like cold cities, you "take your talents to South Beach".
Bob: Nope, imma go upstairs. I'll be taking my talents to South Beach.
Derived from the much-hated Lebron James and his words to describe his departure from the Cleveland Cavaliers for the Miami Heat.