Having done a few startups (only one of which was based in Silicon Valley; incidentally, Arrington was involved in that one, while getting Techcrunch off the ground in his bedroom next to the offices we first started in...), I really wonder how much of the fun of Silicon Valley is lost on people who haven't experienced it. I regularly caught myself thinking I know a guy like X, or "I remember when this happened to us".

Right, that's because they went way out of their way to drag a bunch of startup people in as advisors, and they worked all their stuff into the plot (it helps that there's something innately comedic about startup culture). Watch the credits sometime and look for names you recognize; you'll see them.

The startup advisor I know said they told the writers of an incident that happened to them, but the writers rejected it as being too outlandish and audiences wouldn't believe them.

It later made it into season 2.

What was the incident?