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I wouldn't get discouraged since most people don't even make it to that stage, and being exhausted is certainly understandable after 40 interviews. But have you analyzed or asked for feedback on what it is that was missing from the interview step that the employer was looking for?

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Most of the time that will likely be fruitless. Companies don't comment on why they made their employment decisions because it opens them up to be sued, with no benefit to them. (At my current company, they warn us not to tell interviewees how they performed.)

In my experience, I've been told things like "we were hoping for more experience with X which we don't think you have adequately demonstrated", although maybe half of the time I have specifically had to ask for that feedback when HR said that I didn't get the job

Man 40 interviews is a lot though. Maybe OP is just asking for a ton of money?

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