It took me several episodes to buy into the characters, which isn't uncommon. Shows tend to take a bit to find their legs. By midway into season one, I was enjoying it, to a degree.
I did feel like the first two seasons effectively dipped us into this oddball Silicon Valley culture. I never felt burdened by starting the next episode, but wasn't greatly excited about it either.
I think the biggest issue with Silicon Valley is Big Bang Theory. Big Bang is so much better written and cast, Silicon Valley has to pale in comparison.
I laugh out loud more in every single episode of Big Bang than I do in a whole season of Silicon Valley. The Big Bang characters and situations are just funnier by a large magnitude.
That being said, the large story arc of Silicon Valley is interesting, and the characters have a lot of room to develop. We'll see where the showrunners go with it. After a couple episodes of Big Bang Theory, I knew all the major character names and their defining traits. They're all household names now. After two seasons, I couldn't tell you the name of one character on Silicon Valley, and I just watched both seasons in the course of the last few days.
That's a problem.
Nerds are not only ripe for memorable, potential character attributes, they're ripe for humor as well. Silicon Valley's writers should take greater advantage of this. Hopefully, next season, they will.