Earlier quoted context omitted.
What do you mean by "robust"? There are only a handful of monopolists in the world (by definition), so in that respect no other comparable companies exist. But there are plenty of smaller companies who do well for themselves, relatively speaking, without cargo culting on BigCo hiring. And there are plenty of companies who cargo cult on BigCo hiring but who have not become a market leader. In fact there are graveyards…
There are plenty of large companies with established hiring practices and standardized interview schemes out there that don't do FAANG-style coding interviews, though. And on the whole they don't do well at delivering software, and have a reputation as terrible places to do software work. And on the other side: are there major employers who implement rigorous coding interviews who... don't have a history of producing…
Moreover, "good software" is also highly subjective and subject to dispute. I feel that the software coming from Apple and Google has gone downhill in the past decade. Are we to explain that by hiring?
The financial numbers are indisputable for Apple, Microsoft, Google, Amazon, and Facebook. (Not sure the term FAANG even makes sense anymore.) But something like "reputation" is another matter entirely.