"Now, this does require one huge prerequisite: every candidate must have a side project that they wrote, all by themselves, to serve as their calling card.
I don’t think that’s unreasonable. In fact, I think you can very happily filter out anyone who doesn’t have such a calling card. (And lest I be accused of talking the talk without walking the walk: I am very happily employed as a full-time software engineer; I travel a lot, and I write books, along with this here weekly TechCrunch column; and I still find the time to work on my own software side projects. Here’s my latest, open-sourced.)"
The usually spoken requirement of having side projects in 2015 is the job posting's equivalent of the bachelor's degree being the new high school diploma/GED. If every programmer did it, then every programmer would in theory be far more qualified for the interesting jobs where more difficult things happen, but then ultimately fall into the same trap where they've still not done enough compared to the people with the side-project programming equivalent of their master's.
This will become a vicious cycle until companies with more experienced programmers realize that life is not about programming, and most of the stuff you're working on is not all that important, with even your average (or slightly below average) programmer being capable of doing the work. In most cases, it's a job like any other. I fear that this may never happen.