Why do you say that FAANG isn’t paying enough for this? They seem to be, since they are hiring more than enough engineers in this manner to build even trillion-dollar companies. I doubt they give two shits about the developers who decide to work elsewhere.
Sure, they hire a good # of devs---who then mysteriously want to go into management, leave to start a startup, or simply complain about their bosses. No one with actual agency and power in the matter chooses to stay in that position, once they understand what it is, what their options are, and aren't handcuffed by a mortgage. Or perhaps the company isn't as dysfunctional as the interview, and they stay---in which case it is just the interview that's miscalibrated, serving as an arbitrary hazing ritual.
Despite any problems they have, they are able to retain enough devs to get their work done. Are they losing out on even $1 of earnings because of their inability to hire devs? Even with the arbitrary hazing ritual in place?
