Ask HN: Does location matter?

I'm thinking about moving back to the Bay Area to continue working on my startup, but now I'm wondering if that is even necessary? What's the matter with Boston, New York, or even Washington D.C.? Why exactly does everyone flock to the Bay Area these days to work on their startups, and why should I bother? (Yes I'm trying to go without VC. How well does it work to just fly in when there is a need to meetup?)