Got a call from a recruiter after a cold application. Standard interview process: recruiter, Hiring Manger, Exercise (talk about the project you're most proud of, making sure to answer a specific set questions), Senior Management, Final round. Recruiter and HM steps were pleasant. I was rejected after the exercise step, where one person in the panel clearly didn't like me from the start and was slightly adversarial throughout the interviews. I find it telling that after requiring to spend 4 hours to prepare for a case study, they didn't tell me why I was not selected to go forward or giving me any feedback.