I work in a Wall Street trading company. Up til about 6 years ago, I was actively involved in recruiting tech staff and defining our tech recruitment process.
I’ve since changed roles, but was recently asked to sit in on an interview.
Wow, how things have changed. I seriously doubt I would be successful going through the current recruitment process.
Any why? Focus on whiteboard programming with questions that far exceed the requirements for the day-to-day job.
Somewhere along the line, egos took over and we have a bunch of devs on an ego trip to prove how smart they are.
The ability to solve contrived coding problems is a muscle that needs to be exercised, even when one does actual programming for their job every day. I'm guessing most people don't practice interviews when they aren't expecting to interview, so only a small percentage would retain enough to pass a loop.