It is valuable to you sure, but as a candidate it takes a lot of time. At least with interviews the company is investing an equal amount of time, and I get to l

It is valuable to you sure, but as a candidate it takes a lot of time. At least with interviews the company is investing an equal amount of time, and I get to learn something about the company. The coding exercise doesn't tell me anything about your company. You are losing out on candidates who don't want to jump through hoops of a coding exercise.