Earlier quoted context omitted.
For every "20 min max" take home assignment, there will be people who are willing to spend 4+ hours doing it to outshine candidates who have jobs, families and lives. If you want to make it more of a fair consideration of time, consider moving your take home to interviews, that way there isn't a time cost asymmetry. You can enforce your "20 min max" claim this way, you can judge a candidate's performance, thought pro…
Live coding during an interview is one of the most oppressive things I’ve witnessed in the industry in general. There is usually a huge disconnect between someone who knows that “this task should take 20mins” and doing it cold in a super high-pressure environment. People sweat, panic, brain freeze, and are just plain out stressed. I’ll only OK something like this if we give out a similar but not the same task before…
If you give unlimited amount of time, you're giving an advantage to people with no life who can just focus on your assignment and polish it as if it were a full time job.
If you give a limited amount of time, then you're making the interview a pressure cooker with a countdown clock, giving a disadvantage to people who are just not great at working under minute-to-minute time pressure.