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Kaj_Sotala comments on High Status and Stupidity: Why? - Less Wrong
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High status allows one to blow off what one finds ridiculous instead of saying "yes, that is interesting. Have you considered the counter argument...." The moderate risk of the idea not being ridiculous is out-weighed by not having to suffer fools. See Bill Gates famous "That's the most stupid thing I have ever heard" as the prime example.
Thus, it's easier to have good conversations with grad students than faculty even if faculty is smarter.
Google 'that's the most stupid thing I have ever heard bill gates' didn't seem to return anything relevant, can you be more specific?
Sorry, should have added a link, but I have heard it/read it multiple times:
"""In his younger years, Gates' gimlet-eyed idealism manifested itself in stubbornness and self-righteousness, an unusual boldness, and a tendency not to suffer fools. Most people who have worked closely with him can recall more than one instance in which he reacted to a comment or idea by standing up and hissing, "That's the stupidest thing I've ever heard in my life.""""
http://money.cnn.com/2008/06/20/technology/gates_after_microsoft.fortune/index.htm
Thank you.