Good call Ryan, on both accounts. On the wording, I've tweaked it to include "some of" the smartest people in the world.

But doesn't address the bigger issue of smugness, which I've noticed too. Certainly something in the SV attitude that includes a holy-than-thou vibe, but now that I think about it, I get that vibe whenever I'm around successful entrepreneurs - no matter what city I'm in.

Re the living expenses - it's definitely a deterrent if you're starting your own company. If you're working for someone else though, from what I've seen, the increased pay more than offsets the increased cost of living.