This system is interesting but has a crucial flaw: I legally can't take part. I have a job now, which claims ownership over any tech-related IP I create. There are processes for getting exceptions, but a) you won't get them for actual job-related things b) I'm not asking Google for an exception so I can interview somewhere else.
This is true for nearly anyone with a standard SV job. So if you're willing to restrict your pool to the currently unemployed, this can work, but I think you'd rather not do that.
This is true for nearly anyone with a standard SV job. So if you're willing to restrict your pool to the currently unemployed, this can work, but I think you'd rather not do that.