The location is a pretty cool benefit, but also a bit isolating. Sausalito is gorgeous, and the downtown district is only about a 4 minute drive away. Walking distance, there's 3-4 restaurants in the area for lunch, and a great waterfront park to eat at if brown-bagging, but I was sometimes jealous of the downtown SF crowd. (It is entirely possible that this has changed recently. That neighborhood is ripe for redevelopment / some funky art galleries and whatnot.)
The inevitable flip-side of the start-up setting is that there's a lot to do, and if working on a new pet project, the old ones don't just go away.