When I worked in the Bay Area, I noticed the nerd-culture was still more or less predominant in South Bay. The arrogant, shallow types were always there (as witnessed by their fancy cars--"should we take the Jag or the Merc today?"), but I could still tolerate it. San Francisco was a different story. I started a new job at a startup once and remember thinking "I'm surrounded by Ivy Leaguers who look like models--this place is not for me". I think the crazy amounts of money just brought in everyone looking to make a buck, and the nerds no longer were the majority.
But then you have the company missions. It seems like most of the companies in the Bay Area are all about advertising or compiling info on individuals and selling it. It's mostly B2B and not so much "cool products".
We're on the downside of the tech bubble, and maybe that's a good thing.