That's not a reason, that's an assertion of your opinion. You're not alone in that opinion.
The real question is why? This has never been answered, other than "closeness to VCs".
There's no fundamental advantage to the Bay Area over, say Seattle, or other places that has been mentioned here.
All of the resources you could want are either a lot cheaper elsewhere, or the same price (because they are delivered over the net.)
With the exception of venture capital...
So, fundamental ot this idea of relocating to the bay area is the assumption that you must take venture capital. (And I think this assumption no longer holds.)
No. Only the second part of my statement "best startups will be formed" can be labeled as an assertion of my opinion.
The first part is fact. SV has produced more great startups than any other area in the world. Arguing with that fact is futile.
It's not just VC that SV has as an advantage. Its a high density of angel investors and young people wiling to take a risk and launch startups.
As for the assumption of taking venture capital not holding any longer, venture capital in the narrow sense i.e. VC firms - possibly but in the general sense of needing to raise investment at some point, name me a successful startup that hasn't.
admittedly im biased based on my own personal experience but even at a general level it is hard to argue that the best startups have not come from the valley and the best people naturally want to be where the best startups are.
You really haven't given a reason at all... only ad hominem. "Best people naturally want to be where teh best startups are".
I think the best startups are in Seattle, and I've compared both regions. I'm not saying people should move to seattle, though, because "Best" is a fuzzy quantity.
This is where the best startups have been formed and will be formed.