TL;DR: Though I’m still a fan of privacy-focused utilities like Sync, I’ve also had to re-adopt Dropbox for use in certain situations. In the latest M1 build, they’ve changed where the files are located Here’s how you can use the new Dropbox with old behavior. That is, all via symlinks on your M1. One of the things about the old version of Dropbox that I like (or liked ) is how it stored files.