This. My observation (and mine alone) is that the FAANGs have commoditized software engineering roles, eg via standardized interviews, disregarding experience

This. My observation (and mine alone) is that the FAANGs have commoditized software engineering roles, eg via standardized interviews, disregarding experience - unless you have a "creator" brand etc. This has increased the pool of candidates who are still clamoring to get in (and recent IPOs just made it busier). The FAANG calculus sounds like betting on all this. Infact they are probably calculating this attrition even contributes to some of the unregretable kind!