When László Babai first announced his graph isomorphism in quasipolynomial time result, I wrote
We think of theory as a young person's game, most of the big breakthroughs coming from researchers early in their careers. Babai is 65, having just won the Knuth Prize for his lifetime work on interactive proofs, group algorithms and communication complexity. Babai uses his extensive knowledge of combinatorics and group theory to get his algorithm. No young researcher could have had the knowledge base or maturity to be able to put the pieces together the way that Babai did.
Babai's proof is an exceptional story, but it is exceptional. Most CS theorists have done their best work early in their career. I got myself into a twitter discussion on the topic. For me, I'm proud of the research I did through my forties, but I'll always be best known, research wise, for my work on interactive proofs around 1990. It would be hard to run a scientific study to determine cause and effect but here are some reasons, based on my own experiences, on why we don't see research dominated by the senior people in theory.The field changes - Computation complexity has moved from a computational-based discipline to one now dominated by combinatorics, algebra and analysis. I'm not complaining, a field should evolve over time but it plays less to my strengths. It's hard to teach this old dog new tricks.