A school of thought says you should hire people who are not as talented as you, want to be in the same job five years hence, and are cheap and green.

Nonsense.  Don’t be an idiot.

Know your limitations.  Hire to your weaknesses.

Hire smart, talented, overqualified people. Yes, overqualified.  Pick those who can do your job.  Or your boss’s job. They likely want the job because the essential tasks make them happy.  If paid fairly and treated well, they will stay forever (lowering your HR costs) and constantly exceed your expectations.

After the hire, assist them in their work, not the other way around.

Empower them to make big honking mistakes. Mistakes aren’t fatal; covering them up is.

Embrace their joys. Embrace yours.

Convince them to go home. The planet spins, no matter what.  Always has.