I think I finally understand it, thanks to these Valleywag entries. Silicon Valley is the utopia for people wishing to capitalize on the idea that our society has reached the point where, for a very small, fortunate minority, ALL of the necessities have been met (and long ago, at that). Thus, they have nothing but time and money on their hands. This club carries an aura of being so important that it deserves a position elevated from the rest of us poor assholes who, at best, are still having to work for a living, or at worst, are homeless and/or destitute. We don’t have the time and money to join this club, and thus we are seen as unworthy trash, not fit to mix with the elite. The irony is that we, the ones who actually produce something more tangible, are considered less worthy than those who produce, essentially, nothing.
A comment posted on this story on Valleywag.