Some of our folks earn >50k, others <25k (boils down to skill and experience), and we do hire grads, but also very experienced folks.
Oh - and I am off, but not hugely - has crept up to about £95k with our current headcount of 30, but it's still a gulf apart from the numbers in the article.
I don't think it's fair to make a comparison across geography. There are too many variables, such as cost of living and the employment market that may affect overhead. You can definitely make a case for whether or not starting a company in the Valley is a good idea given high costs, but that's a different argument that's also been done quite a few times over.
For example, it would be similar to me claiming your burn rate of £95k is extremely high because I'm based in India and pay my developers £7 per hour.
Oh - and I am off, but not hugely - has crept up to about £95k with our current headcount of 30, but it's still a gulf apart from the numbers in the article.