At a FAANG company? A 5% or higher false positive rate in the FAANG hiring process. I feel like I specifically said that.

At the company I worked in at the time? An ineffectual hiring process for different reasons that was more on "feels", these folks probably would have been hired whether or not they worked for FAANG, but "they worked for FAANG" was always in the out brief. They seemed talented (I'm sure that's why they were hired at FAANG companes). I'm not proposing a solution, or saying that the company I worked for was perfect, but <worked for FAANG> means they made it through a 95%cutoff that is unreliable rather than they're a good SWE.

Additionally emulating FAANG hiring processes is probably not a great idea unless you can hire 1000 engineers and fifty of them as that is what FAANG does. If you can only hire 10 engineers you can not realistically mimic FAANG hiring processes.