I don't know either this is good for employers/customers but one thing for sure: this makes me feel even more terrified of failure, of becoming a "candidate" again. This company is making the world even more hostile for people who need jobs for reasons stated here by others. Let me explain: my wife is looking for a job now. She's not an engineer so the progress has been slow: hundreds of resumes emailed, no response,…
In-person interviews have an even worse problem: if your wife is rejected after one of those, she has to worry not merely that she looks lame in a video, but seems lame in person. But you don't find the concept of interviews disgusting, presumably because it is already a familiar one. Which suggests that your real problem with this technology is its novelty.
No, I'm not one of "those people" :-) My initial reaction was negative because filming yourself a hundred times is a torture. I failed to see what's in it for folks who are looking for jobs and are pretty miserable already.
Your argument is also flawed because you are comparing video clips to interviews like they're going to replace them which they won't.
One can make an argument that this approach will eliminate the need to apply to hundreds of jobs. That would be great, but how? The ratio of resumes/replies is determined not by technology but by applicants/position ratio.
I've exchanged a few emails with Nicolas and he feels confident that the product will make life easier for candidates as well, I really want him to be right/succeed. At least YC companies are using it right: they actually save time for an applicant.