It was very hard to want to put your soul into building a company (which as a founder you generally always have to do, at least for a while) when everything is just so mellow in Austin. All of my friends were leaving their offices by 5pm to go drink $3 beers every single day, and likely go see a band play that evening. I of course did this too, because I wasn't going to be the only person working through the evening.
Then there is the cost of living. It's absurdly low compared to the bay area or NYC. I could have a great quality of life in Austin by doing 1 - 2 freelance gigs per month, easy (I know this because I did it for 3 years before starting a company). This translates to not feeling the small window of opportunity you'd have to build a company that becomes profitable (or you can raise money with) out in the bay area, because you can coast by on so little money. This also presented a talent/hiring problem when I did try to make a startup happen in Austin. It was VERY hard to convince freelancers who were making 100k a year and putting a majority of that in the bank to come make less for my crazy dream.
In the Bay Area I do not have these issues. EVERYONE works insanely hard. The cost of living is insane, so I can't just sit around and take my sweet time. Becoming profitable as soon as possible is all I think about.
I'm not saying the Bay Area version of this isn't its own extreme, because it is definitely out of control, but there has to be a balance somewhere between the two.