To provide a counterpoint, as someone who lived in Silicon Valley forever and still owns a place there, one of the reasons I moved away is that it is too far from good outdoor activities. Good mountains are 3-4 hours away, and while I made that trek on hundreds of weekends, it was far from optimal; I also hiked the hills around the Bay Area frequently but that isn't even close to the same. Similarly, the ocean around the Bay Area is okay but not great; no one would ever confuse it with Southern California, it has more in common with the Oregon coast.

By contrast, where I currently live (Seattle) is 45 minutes from the Cascades which has fantastic hiking, backpacking, etc (better than the Sierra Nevada in some ways) and a much more pervasive boating culture than exists in the Bay Area thanks to the history and geography of the region. Living here has made a high-quality outdoor lifestyle much more viable than it ever was in the Bay Area because the logistics are so much easier.

The tech scene in the Bay Area is unparalleled, but if you removed that aspect, there isn't that much to recommend a suburb like San Jose from a lifestyle standpoint. The South Bay in particular also doesn't have the mild weather of the peninsula and San Francisco -- it is more Fresno than San Diego.