I worked for a large internet company that would not consider anyone with too much experience. It was part of their business model to hire new grads or interns

I worked for a large internet company that would not consider anyone with too much experience. It was part of their business model to hire new grads or interns still in school and train them in-house. Sure veterans make great senior devs or architects, but I assume the OP is looking for an entry level job in which case the new grad is the better choice for many reasons.