How stupid is this idea ? You would live in your car just to be in the Silicon Valley ?
A good idea and a good execution are what matters. Doesn't matter if you are hype and live in Palo Alto, go back to your apartment in LA and do some coding.
He seems to want to relocate to "silicon valley" (the Bay Area) and make it work long-term, from what I can tell, so while its a bit radical, it could work out for him, its hard to know when to make the jump. I think the case of a founder, who doesn't have a stable, solid income, it is even harder, personally I prefer the route of relocating for a job offer, putting in some time and then later, once some roots are put down, working on a startup, but since he already has one going, its probably not an option for him.