[api]

Those are good points and I don't disagree at all, but I was talking about perception more than reality. There's still this immense perception that if you're not in the top five you don't exist, and I think that's one of the factors driving real estate hyperinflation in those places.

The other funny phenomenon I've noted is people assuming we are in SV and asking whether we are "down in the valley" or "up in the city." I say "we're waaaaaay down in the valley... like eight hours South." I bet companies in Atlanta will give an address in one of Atlanta's burbs and get asked "where's that? is that in the East bay?"

Maybe the whole thing is just real estate fund or bank propaganda.