Why commute all that way when I can move somewhere much more reasonable and get a 3 bed house with a pool for the same price as a small 1 bed apartment in SF, AND only have a 10 minute drive to work? These places exist all over the world and contrary to popular belief around these parts, smart people and businesses do exist in places other than SV.
[1] http://www.slate.com/articles/business/moneybox/2011/05/your...
The financials of it isn't the end of it, though. The nightlife is better, the people are nicer, I can have a backyard, I'm not severely limiting my options by having dogs, and the weather is better (for me, but I'm used to hot). I'm significantly happier in Austin.
[1]: My 2-bedroom house that I live in by myself costs about what I was paying for my share of a 2-bedroom apartment in SF. Both required about a 10 minute commute, though I drive in Austin where I could walk in SF. It extends beyond rent, though. Everything in SF is more expensive, though nothing is quite as dramatic as the rent.
Furthermore, if you're fitness, there are so many running clubs, core classes and cycling races that go on.
Note: I moved to the bay area for a couple years before heading back to Austin (I lived in Austin for a decade before wanting to try out the bay area, no idea why people like it so much).
In Austin I can get pay pretty close to Seattle, but live within 30 minutes of my office (fairly easily) and have a nice house to live in.
For the vast majority of jobs it would be time wasted. But as a software developer it's an automatic 1.5 hours per day I have to spend thinking about what I need to do.
Two hours a day is 500 hours a year on the train. That's a tremendous amount of time to be away from your loved ones for the sake of a Good Job or a Nice House.
I can understand using that time to better yourself in some way, but working for free I don't agree with.
I live in SF, and love it.
That said, since moving from Boston, I'm so much happier. No commute, three times the space and a nicer apartment for half as much rent, better weather, close to the beach. South Carolina isn't exactly the mecca of technology, but telecommuting makes up for it.
Driving is any longer than 30 minutes to work (each way) is going to be more of a pain as you can only do so much in the car without endangering others.
Public transportation when it works well in cities leads to people tolerating longer commutes to work. If I had to commute 45 minutes in CA traffic I would be very upset.
Later, I moved to Austin, where house prices are reasonable even if you want to live close to downtown, and you don't have to worry about long commutes just to save money. I have no regrets over gaining so much of my time back, and Austin has a thriving tech community.