The true rich (> $10M net worth) of the Bay Area are the self-loathing ones who wish they were in New York. I wrote about this: http://www.quora.com/Silicon-Val

The true rich (> $10M net worth) of the Bay Area are the self-loathing ones who wish they were in New York. I wrote about this: http://www.quora.com/Silicon-Valley/What-is-it-like-to-be-a-member-of-the-Silicon-Valley-elite/answer/Michael-O-Church http://www.quora.com/Silicon-Valley/What-is-it-like-to-be-a-... The upper-middle class isn't nearly as preoccupied with location. You don't really identify with a place if you can't afford to buy a house there. (Or, if you do, you're a sucker.) The NYC envy of the Silicon Valley elite is mostly a phenomenon of the VC/MBA circle. (I've never heard of L.A. envy. Maybe in the '80s or '90s it was strong, but I can't imagine anyone having that now.)