Exactly. Spolsky did enormous harm to us all with his assertion, blindly accepted, that a single bad hire will destroy your company overnight. All the toxicity in the current hiring process should be laid at his door.
This Spolsky quote is so outdated. The average great developer will apply for 4 jobs unless he is trying to work remotely which will require 100 aplications / 50 tests / 75 take home assignmennts / 14 interviews per position and one job offer for below market rate for the third world.
"The average great software developer will apply for, total, maybe, four jobs in their entire career."