Ask HN: Which is more important for a startup's location?

A friend and I were discussing the following this morning: if the only determining factor in deciding where to locate a startup were a choice between amenities like a nicer environment and better food/drink choices vs. proximity to home, where there is a large pool of talent having to commute 30-45 min or more, which wins? He thinks that a longer commute is ok if it means better amenities, and I think that this proximity to home is important because the opportunity to commute less can be a significant draw and an untapped market for talent.

What has been your experience?