Bringing an outside perspective: You're definitely right when you say that in the Bay Area you cannot sense much of this reality. Actually, if in America numbers are showing this trend, I wonder how it would look worldwide.
My guess is that desire (and perhaps frustration) are reaching higher levels but the path to entrepreneurs worldwide is much more challenging then it is in the US (actually, accordingly to OECD, NZ, AUS, CAD, US, UK are easiest countries to be an entrepreneur).
We were raised in the middle of a revolution (and an educational system that did not keep up with it), we joined the labor market in the middle of an economic crisis and (as Arthur mentioned) are daily contrasted with the greatness of some exceptional entrepreneur and it's story.
Even though this makes sense, I wasn't aware that the situation is that extreme