I was courted by the COO who found me via Dribbble. I met in person for 30 minutes one day. They I went in again for a 5 hour interview which included a lunch. Then I took home a design exercise based on a core problem in their product: their feed. I worked on the design problem for about 5 hours and put into a presentation outlining the thought process. It was in the wireframe stage, but it solved the problem in a certain way. I came in a third time to present the design problem. After presenting the solution to a small team, I got into a white boarding session with their lead engineer and discussed feedback. Overall, great. Afterwards, they invited me for a beer and we talked salary. They gave me a t-shirt. I thought we were about to close the deal... The next day the COO called me and said: "You know that feedback you got from the lead engineer? Could you turn that around with visual design for a round 2?" I replied I could do that for $80/h in a freelance capacity, but I would no longer be working for free on this. This was a deal breaker and I didn't get the offer. Make your own conclusions. Overall, this was a colossal waste of time, and I suspect they're using their "design exercise" to get a bunch of free work from candidates. Watch out for the red flags.