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This seems to be largely an American phenomenon

In more minor markets like Europe/Australia it seems to be a lot less leetcode and a lot more (1) experience (2) degree (3) actual interview performance

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This is more so because the US companies have been flooded with East / South Asian workers. The proliferation roughly tracks with a decrease in white (European) American representation in tech companies. US companies used to be much more like you described.

AtlasSian? Canva? Absolutely the same process in Australia. Smaller shops/contractors - sure.

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