Not always true. For example, the AI/ML craze brought a lot of academics into industry and also brought a lot of their politics. For an AI/ML job at most places, prepare to be judged based on having the right credentials (good degree, school and publications) and looked down upon as scum if you don't have right ones.

Or again relevant experience. No one is gonna say no to a person coming out of e.g. Netflix’s search dept or Facebook or has decades of big data experience, regardless of their education.