Ask HN: Is the Bay Area/Silicon Valley still the best place to start a startup?

While I don’t think there’s significant upside for someone who starts a company to live the Bay Area versus another tech hub, I would like to hear others’ opinions on the advantages and disadvantages of starting a startup in SV.

Curious to hear thoughts on the benefits of the startup networks, high circulation of VCs/capital, and high concentration of like minded individuals in SV that give it an edge.