"As an employer I want the best prepared and qualified employees. I could care less if the source of their education was accredited by a bunch of old men and women who think they know what is best for the world. I want people who can do the job. I want the best and brightest. Not a piece of paper."
- a counterpoint: I teach in the business school at an accredited public land-grant university in the US northeast and interface with several HR managers / campus recruiters from major companies nearby, including a fortune-5 and three fortune-50 cos. Almost all companies have minimum GPA cutoffs to even interview a student. Higher GPA increases a student's chances of getting hired. Recruiters frequently ask professors to recommend the best students in their class. That "piece of paper" mentioning the student's grade is fairly important, as are people-skills and attitude. Doing well in class signals a candidate's work ethic.
In the article, OP wrote about Facebook: "They didn't want you to do anything but what you wanted to do naturally, they just wanted to pay close attention and help."
Does OP or anyone else have specific examples of what Facebook did in their early days?
Accenture work tends to be client-facing, so part of the interview was, presumably, to check that I can present myself professionally and make a good impression on the client. In other words, check that I don't have three heads, or some other major personal presentation issue...
Actually, places like Accenture do tend to hire better looking people. Especially women. That goes into the whole "chicks making charts strategy" people joke about.
"India produces large numbers of bad engineers" - that's a sweeping statement. Among all countries, India sends the largest number of engineering students to the US (according to NSF - http://www.indianexpress.com/news/india-sends-maximum-number...), which is not bad for a country producing "bad" engineers. I am a professor in a US university, I work with a lot of technically trained undergraduates, and I can say that students here (as anywhere) when they complete their undergraduate education, are merely ready to become an apprentice at a company. Their education continues in the company (or research lab) they join. So when you compare recent Engineering undergraduates from different countries, I am willing to bet that their quality is on average not that different.