That is a cost that isn't easily quantifiable. However, the cost of wrong hires is easily quantifiable based on the time effort required to (attempt) to get a new hire going.
Considering that most companies are looking to minimize risk and the potential benefit is not quantifiable I would estimate the chances to skip the interviewing process as minimal.
if he does not know, then this means coding interviews do not actually optimize for competent people.
are you afraid to find out the latter might be the case?
And my LinkedIn history
And a resume
So does everyone else (well...maybe minus the blog)
And yet people lie (or don't tell the truth) on their resume and LI profiles all the danged time
That's cool - do you know them?
I'm only going to ever give you people who'll give me a good reference
So asking for references is pretty pointless