The whiteboard interviews have been very important for many companies when they are looking to hire software developers , nevertheless, can be counterproductive; here are my arguments:

Whiteboard interviews are focused on the performance of the candidate, so, when a developer is being observed and someone is seeing every of those steps, developers can get nervous, and the anxiety could cause that they can't to think correctly.

This was explained in a study published in November of 2020 from North Carolina State University and Microsoft [1]. They found that the technical interviews used in hiring for many software engineering positions, are testing whether a job candidate has performance anxiety rather than whether the candidate is competent at coding.

What are your thoughts about this?

[1] Does stress impact technical interview performance?