Referred by a friend who has worked at Twilio for several years in multiple positions. Scheduled a phone interview, then multiple onsite interviews. Everything about this process seemed pretty straightforward, and I was happy with the experience up to this point. I liked the team, the team liked me. We went into discussing terms for an offer. After a few phone calls, we reached mutually agreeable terms that I was happy to accept. This was on a Thursday and I was told to expect offer paperwork in a day or two. On Monday, I pinged my recruiter to ask about the status of the offer letter. He replied that it was in progress and that a few of the people it needed to go through were out of town. Wednesday he emails me asking for a phone call with the hiring manager. The hiring manager tells me that the offer was not authorized, that they could not hire me as a Sr Software Engineer, but did I want to to come on as a Software Engineer making less money than I am at my current job because the Twilio stock options have "a lot of upside potential." Needless to say, I was somewhat less than impressed with the business side of this interaction. It sounds like Twilio needs to work out their internal hiring processes to avoid wasting candidates' time and making verbal offers for checks they can't cash.