I've worked at several such companies, and they honestly do have a ton of incredibly incredibly smart people working there. However, it takes a lot more than simply smooshing a bunch of incredibly smart people together to produce greatness. It takes good leadership, good judgment, good planning, and so on and so on. Unfortunately, at many of those same places, crammed full of smart people, a lot of those other elements are missing. Management tends to be mediocre at best. Planning tends to be about the same. Corporate culture tends to be oppressive. And so on. All of these things cut down the effectiveness of smart people, and the end result is often a lot of mediocre products with only a few flashes of brilliance here and there.
The core problem is that once you scale beyond a single person working alone the mechanisms and nature of cooperation between individuals starts to dominate the end result as much as individual capability does. And while smart people might help offset poor corporate structure, policies, and management, it's only marginally effective.
P.S. Also, sometimes insisting on hiring exclusively very smart tech workers can be a coping mechanism for institutional failures (and thus somewhat of a red flag). It's more or less a truism that corporate culture and corporate managerial processes are more or less unaccountable, not at all introspective, heavily resistant to criticism, and even more resistant to change. But if your management chain and corporate culture is so incredibly screwed up that it becomes a drag on effectiveness and productivity how do you cope with that? And the easiest answer is actually a somewhat surprising one. You hire the absolute best people you possibly can. Not to make changes or make things better, oh no. But rather to squeeze the most out of the system as it stands. Smart, hyper-competent people can succeed even in the face of tremendous challenges. Including terrible internal tools (a common problem everywhere), terrible processes (also common), terrible management (ubiquitous), and terrible leadership (also ubiquitous).
A workplace filled with smart people isn't necessarily a good sign. It could mean it's a horribly dysfunctional place that only works because all of the individual cogs in the machine are the best they could possibly be.
The core problem is that once you scale beyond a single person working alone the mechanisms and nature of cooperation between individuals starts to dominate the end result as much as individual capability does. And while smart people might help offset poor corporate structure, policies, and management, it's only marginally effective.
P.S. Also, sometimes insisting on hiring exclusively very smart tech workers can be a coping mechanism for institutional failures (and thus somewhat of a red flag). It's more or less a truism that corporate culture and corporate managerial processes are more or less unaccountable, not at all introspective, heavily resistant to criticism, and even more resistant to change. But if your management chain and corporate culture is so incredibly screwed up that it becomes a drag on effectiveness and productivity how do you cope with that? And the easiest answer is actually a somewhat surprising one. You hire the absolute best people you possibly can. Not to make changes or make things better, oh no. But rather to squeeze the most out of the system as it stands. Smart, hyper-competent people can succeed even in the face of tremendous challenges. Including terrible internal tools (a common problem everywhere), terrible processes (also common), terrible management (ubiquitous), and terrible leadership (also ubiquitous).
A workplace filled with smart people isn't necessarily a good sign. It could mean it's a horribly dysfunctional place that only works because all of the individual cogs in the machine are the best they could possibly be.