Google pays their technical staff extremely well. The problem is that Bay Area housing prices are astronomical, and it's pretty hard to get ahead when you're paying out several thousand dollars of after-tax money every month just to rent a room in a shared house.
I suspect that this guy will only be able to live this way for a year or so - either Google will step in and ask him to move his truck (especially if others get similar ideas) or he'll grow tired of his spartan living arrangements once he's paid off his student loans and will return to more standard living arrangements.
It seems, however, that there's a business opportunity for someone who offers micro-apartments with shared common spaces (like some college dorm designs, where four or five people have extremely compact private bedrooms but there's a shared den/kitchen/bathroom. Figure out a way to squeeze it into the size of a moderately sized standard apartment and offer it at a reasonable rate.