gwern comments on Welcome to Less Wrong! (2010-2011) - Less Wrong
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I think the consensus around here is that too many high IQ people go into physics compared to what is socially optimal. Unfortunately my Google-fu is failing me and I can't find the posts/discussions I have in mind. (Anyone want to help me out?) The closest I could find is Paul Christiano's The Value of Theoretical Research.
Well, you might be thinking of http://lesswrong.com/lw/1hh/rationality_quotes_november_2009/1ac4 - either de Grey or the mathematician story would do.