Failing at recruiting - where from here?

I'm kind of losing my mind with ER 27 recruiting. I'm not sure what I'm doing wrong, but application after application has been met with a rejection email within days.

Im networking with people at each firm I apply to, getting consistent referals, and have my own substack with (what I believe are) in depth pitches on companies to demonstrate interest. The calls I have are usually great and last more than an hour going in depth into the person's coverage.

Even with all of this, I have yet to get past the first round. Most the time I don't get past screening. I have no clue what else I have to do. I wouldn't say my interviews are bad either. One of the interviews I had with an MD went really well. He liked my pitch, and we talked NBA for like 10 minutes near the end of the call.

It's been over 10 months of this process now and still no real leads. Do I just need to keep my head down and keep churning out loads of emails a week? Or is it time to settle for something lesser.