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As to why, I think some gifted people (me for instance) are at their best when around other gifted people, even if they are no longer the smartest person around. I have accomplished much more at work, and been more satisfied, when working with other smart people. During the times when that wasn't the case, I tended to coast.

This.

I agree 100% and it is the main reason why I have stayed in architectural or application development management roles. The people that I deal with are smarter and more 'best solution possible' orientated than all of the pretenders at more senior levels are (typically).

Become what you are