Also the have no competence at evaluating engineers so seniority is the only predictor they have of talent. On the other hand, I know junior/graduate engineers that will outperform many senior engineers...
In many cases it's due to products being reactions to what is on the market instead of being driven by user need or internal innovation. They need people to "hit the ground running" because their competitors either already have something out or are demoing something similar.
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