* Initial candidate screening reduces the pool by 85–95% (leaving 5–15% of the initial pool) * Interview #1 reduces the pool further by 50–66% (leaving ~3–4% of the initial pool) * Interview #2 reduces the pool further by another 66–75% (leaving ~1–2% of the initial pool) * Final chat usually doesn't reduce the pool, but it's one last pass for additional signal * We choose a single candidate of whoever remains

For a position with 400 applicants, it could look like

* Initial screening leaves 40 candidates for interview #1 * Interview #1 leaves 15 candidates for interview #2 * Interview #2 leaves 4 candidates for final chat * We pick from those final 4