When I finally got to start assembling my ambitious shelving I needed some drill bits that could drill a large hole. I'd bought a single 7/8" version of the blue drill bits below and lost it. So I got a replace 7/8" and a 15/16". Almost all Home Depot had of this kind of drill bit were the blue ones.
Notice the tips of the drill bits. The silver ones have a pointy tip while the blue ones have a screw tip. I don't care that the company calls it a drill tip. It's a screw. And when used it screws itself into the wood until the flat of the bit hits the wood and then stops dead. I hoped it was just the weaker battery powered hand drill that was the issue. Brought the drill press up and put the bit in there. Exact same results. It screws in and stops. Which was a problem because the drill press doesn't have a reverse button. I had to unplug it and manually unscrew the bit. But not until after it pulled the spindle loose. I did get a different bit to drill a hole in the middle of my intended hole. Then the screw tip bit worked great. That little flare at the edges of the flat face really does help prevent splintering as it exits.
So I returned the blue bits that were still in their packaging and got a whole set of the silver dagger tip bits. They chewed right through the boards. It did jam a couple of times, but I just backed off and came in slower. Nowhere near the problems of the drill tips.
I was using them on plyboo which is a fairly hard wood. Results on other kinds of wood may differ.