You can still manipulate smart employees via their psychological/emotional weaknesses to get them to work for a poor-mediocre deal. In fact I think this is the most common path.
"Geeksploitation The act of taking advantage of twentysomething digital workers who are flushed with pioneer enthusiasm and willing to work very long hours if bolstered by junk food, flexible work schedules, and no dress code. Gareth Branwyn, "Jargon Watch," Wired Magazine, February, 1997"
This is really just an extension or a new way to exploit the fact that a lot of nerds are doormats, and are completely unable to negotiate market salary. Happily, there are some who see the shenanigans for what it is.
I tried to phrase my third clause carefully. That would be hiring employees not "smart" enough to realize what's going on. (In hindsight, that's a leading term, but I can't edit it now.)
