Below are some valuable comments about this topic posted elsewhere by someone else. I'm simply copying them over here since the OP doesn't have a LW account:

"""If your current job position is already almost optimal for your goals, then it's possible you can do a few interviews, get a few offers and pick the best one, which will give you some marginal improvement. Or use those offers to leverage a raise at your existing company."""

And you don't even have to apply at 72 (!!!?) companies. After one year of employment, I applied at three other companies, got offers from two, leveraged them off each other, then used those offers to negotiate a raise in the range of 50-100%. All while working full time (with some vacation days for interviews).
(I did not have a lot of free / social time during those weeks, though.)

I haven't finished reading original article, but there are often downsides to leaving a job (golden handcuffs, business relationships, social relationships, etc). So staying can be best even if the offer isn't as good on paper, depending...

Also, original article really only applies if you're in an industry where labor is relatively liquid and your talents are highly desired by employers. This is a privilege workers in the software industry (me and OP) have; the vast majority of workers probably can't really follow this advice.