I think (know) many companies actually do this informally all the time. It's fairly common to hire designers in particular this way. Stripe is smart to formally

I think (know) many companies actually do this informally all the time. It's fairly common to hire designers in particular this way. Stripe is smart to formally and publically announce a streamlined process. Obviously the whole point here is either everyone or no one gets an offer - honestly if I had to guess the amount of people they actually hire this way will be really small, but making it formal will increase the number of talented people they see total.