I suspect #1 is trying to get at something more general (like 'be humble'), but it isn't always true. There are also a lot of mediocre people working in the industry. In more than one instance I've seen recent college grads - and even no-college wunderkinds - wipe the floor with more established devs in terms of knowledge and programming ability. The fact that there are always people smarter than you goes in both directions. The fact that you've been working in the industry longer doesn't automatically make you the smart one.