An even bigger problem is that smarter and faster are often conflated but they're not the same thing. By putting time limits on all kinds of stuff we tend to promote that idea: that if you can solve a problem in some way in record time that you are smarter than someone who can't solve it in that time, whereas they may be simply thinking slower and eventually arrive at the same solution or they may be actually smarter and will arrive at a better solution but later than the faster person.

This really irks me because I know some people that are much, much smarter than they appear because they are a bit slower (and possibly less extrovert). In a 'just world' (which we clearly do not have) their chances would be at least equal. We seem to give speed simply too much weight.