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Umm. That they don’t want you.
Kind of like an insurance company rejecting you for coverage but asking you to reapply after a year if your health improves
Probably not enough revenue for what the firm wants.
Could mean that they like you but there's another candidate they like better and you're the second choice and that they would take you if another position opened up
It means they want to see you grow THEN hire you. Go elsewhere, if they can’t see potential they are not for you