Earlier quoted context omitted.
If you have one candidate who has seen all of this stuff before and can use it directly from memory, and another candidate who has been busy raising kids and has never seen this stuff before, who do you want to hire, all else being equal? The one who's raised kids† obviously. As that's approximately 3-4 orders of magnitude more difficult -- and indicative of not only of general character (by itself hugely important),…
I would say further, that If you are in a position to be implementing some non-trivial algorithm that's not currently in the toolbox, then your best approach is probably to go read a few papers first, and make sure that the algorithm you're looking at has not been surpassed. (Or, perhaps, you just need to dig something up from the '70s. A lot has been forgotten). Then again, if you can implement Paxos on the first tr…
Of course that is not exactly the same as some other problems presented by white board coding.