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I think it's better to be last. For the job I just started at, for one of the technical questions, they mentioned that I was the only one that answered it correctly. Maybe they wouldn't have noticed as much if I'd been in the middle or first - it would have stuck it out to them since I was the last one they saw. As mentioned I did end up getting the job (though they were hiring two people).
If they are committed to meeting all of the candidates, like have made flight reservations and this is a multi-level interview process, then last is probably better, even if it is just for you and your state of mind of not having to wait as long to hear the outcome.
However, it isn't unheard of to go first, do a great job and get an offer without people continuing down the list of other candidates.
Sometimes, they want a thorough search for the best candidate; other times, they want to find a fit immediately and spend less time and money doing a more exhaustive search because good is good enough for the position.
Read your situation as best as you can and make a choice.
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