I've only visited Palo Alto, but I recognised way too many aspects of that series from various VC startups. Up to and including the startup I was apart of that had offices in a bedroom in a house in Atherton for a while, and the craziness around Techcrunch (which was incidentally started out of the bedroom next to "ours" in that house in Atherton).

There is a scene in the first season where they're all on a bus and Gilfoyle sees a middle aged woman on a bike waiting for a light. The soliloquy was so random and not even funny, but fit so well. That woman was basically every middle aged woman neighbor of mine.