>then we're going to have to do all 4-8 years of post-undergrad pain and suffering all at once, during the interview, so grab a whiteboard and buckle up!

Even in academia, I think this view is counterproductive. We shouldn't be imposing suffering on folks just because that's how it's always been done. I prefer to take a different approach: give people every chance to make themselves look good, and see if they're able to capitalize on the opportunity.

I think "job talks" could have a useful place in industry hiring. Ask interviewees to prepare a 5-minute lightning talk about any technical (or technical-adjacent) topic they want, and open it up for Q&A from the panel afterwards. This is a way both for the interviewee to set the stage on a topic they're confident in, and for the interviewers to gauge the applicant's communication skills and technical knowledge.