I agree with much of what you're saying, but I don't think the "typical" tech company is anything close to the HN stereotype web start-up. Most tech companies -- and almost all successful tech companies -- are not just implementing some obvious, trivial web/social/mobile service and hoping to luck out on a quick acquisition.
That's probably true. I think what I'm saying holds to a large degree within companies too. For instance, you're probably going to have fewer opportunities to distinguish yourself by ability if you're administering mail servers at Intel than you are if you're doing chip design.
