At one Beijing-based start-up I've been working with full-time fewer than 30% of the senior iOS dev web dev applicants who have already passed the resume screen were able to complete FizzBuzz within an hour. Of those that could, only about half could code a fibonacci function.
On the other hand, there are lots of applicants and a few are very talented people who will work for under 2k USD per month. In your terminology, there's "a wee bit" of human capital here.
On the other hand, there are lots of applicants and a few are very talented people who will work for under 2k USD per month. In your terminology, there's "a wee bit" of human capital here.