I've been leaning away from Silicon Valley for awhile. It's expensive here; SV used to be the only game but now startups can legitimately be anywhere. SV doesn't especially offer anything that can't be found/done elsewhere. Indeed it feels oversubscribed here.

When I was there, the Berkeley EECS Undergraduate Handbook (basically your graduation contract) said that the prestige of a Berkeley degree increases with distance. Translated into English that means get out of Dodge. Similarly, an SV pedigree counts for something elsewhere, maybe more than it does here.