Earlier quoted context omitted.
The smaller scale in the past made it so managers either knew (at least by reputation) the person submitting the resume, or it was not too expensive to find out. Nowadays, jobs are getting 100x as many applications, most of which are far lower in quality. University admissions has followed a similar trend, going from 5–10 being "spray and pray" twenty years ago to 20–30 applications nowadays. However, it didn't incre…
The "solution," such as it is, is that companies strongly bias towards referrals and managers towards people they personally know. And, from some conversations I've had, that is exactly what is happening. With the result that it's tough for junior people with no real networks (OK maybe their school is a signal) because companies really don't want to sift all the junk they're getting and I don't really blame them.
On the flipside I'm not finding good resources to find startups to apply to that don't have hundreds of applicants already. There's no good answer the market has come up with as far as I can tell, so everything just gets worse for everyone as a result.