One of the few things that developers can agree on is that the interview process is terribly broken. There are ideas about how to fix it (links below) but the industry has yet to come to a consensus on a better way forward. 

Many developers are particularly aggravated by the way some organizations insist on “academic” interview problems that test developers skill with algorithms and (big O) algorithmic analysis. The argument is that these types of problems are often irrelevant to the job, rewarding antiquated knowledge over practical skill, and are biased in favor of developers with more time and resources to spend on preparation.

Now, before we continue let me get this out of the way:
I agree with those arguments!