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In my experience, the 996 teams aren’t actually cranking out more work. They’re just working odd hours, doing a little work on the weekends to say they worked the weekend, and they spend a lot of time relaxing at the office because they’re always there.That's exactly what happens. Some companies' management values asses in the office, and the fitting kind obliges. They come in at 9, leave at 8/9 in the evening, but a lot of the times they are scrolling the social media, doing chit chat, reading blogs, etc. whenever they can (can't do other serious work/learning, as such companies tend to actually spy on what you are doing).
They take 90 minutes long lunch breaks, take walks to smoke, etc. But the bossman can hold a meeting with them at 1 or 3 in the morning sometimes. These get a lot of praise at such companies.
They retain the worst kind of 'talent'. These companies often hire decent technical talent, but with another dimension lacking, like poor communication skills, or a no-name college- knowing that they won't land better offers soon.
Often fearing market, some good people oblige, too, but then tend to quit after a year or two due to burnout.
Managers are the worst. They are perpetually in meetings having conversations much worse than free ChatGPT, but they can say that they are 'working' long hours, and in weekends, setting the bar for ICs.
Productivity is lower than 9-6-5 teams. But many people haven’t come out of the sweatshop/manual labour mentality.