I had a phone interview with a recruiter followed by a coding challenge and an onsite interview day that took about 7 hours. I had an amazing time during all my interviews - there are some very smart, creative and collaborative people at this company. My recruiter was also amazing and I never had trouble reaching them. I went in not thinking I was likely to take an offer if given to me, and left just extremely impressed with the company and the people I met :). This whole process went wrong when that I was told I had an offer (that still needed to be officially approved) and then again told 20 days later that they actually under estimated how many people would accept their new grad offers and they would have to retract their offers that had not yet been processed into writing. During this 20 days I had declined an offer from a good company and not sent in any applications because I was really happy with my position (and had already gone over salary/benefits with my recruiter). My recruiter felt really bad about it - and they were great - so my guess is this is coming from higher up where someone who was disconnected from us lowly new grads didn't feel like it was bad for us entry-levels to take the hit from their (two sigma's) risky choices. If you want to work here, I'd still say go for it! I had a blast at my interviews and was so happy when the hiring committee approved me. This made the disappointment much worse than it would have been if it did not seem like a good place to work. On the other hand, if you do decide to apply and end up being told that you will get an offer make sure to continue to go full force in your applications until you have signed a document, because they won't hesitate to use their legal right to go back on their words. Just in case you were concerned, I am now hired at one of the tech giants and looking forward to the future :).