Boston, in large, give the message of "old money rules". Where you were born, where is your summer house (Martha Vineyard, Cape Cod, or Maine?), seems to the most important thing. And coorporates rule, so you have to play by their game: meaning you have to be one of them, in the boys club, have some gray hair, be decent at golf (or pretend to like it), in order to be considered good at busniness.
Boston/Cambridge is great if you are in academia, or doing research, but doing anything practical, or startup it is not that place to be.
Young ambitious people move somewhere else, the rest is stuck in academia, or living the 9-5 life clinging to the coorporate life, maybe they will manage up in the ladder (or rat race).
Adding, I also have met very smart people in Cambridge, but talk is cheap, and there is a lot of it in there. Everybody has an opinion about everything, but when it comes to action, there isn't much.