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Technologos comments on High Status and Stupidity: Why? - Less Wrong
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I can think of at least two high status individuals I've met in the corporate world that displayed a wide range of intelligence depending on their audience.
To some people they would be very direct, ask the right questions, give the right advice, and be generally intelligent.
To others they would display less competence, ask obvious or stupid questions, and generally seem less intelligent.
I always supposed the latter cases were either:
A display of "Such minor details are of no concern to me; I will play dumb to assert my status"
"Let's see who will challenge me when I say something stupid, and then I'll know who the smart/bold ones are in this group"
I propose a further hypothesis: high-status people have internalized Laws 4, 5, and 46 of the 48 Laws of Power, but especially Law 1: Never Outshine the Master.
After years of practice in switching between seeming competent relative to underlings and less so relative to superiors, they develop the ability to segregate audiences as you described.