MaximumLiberty comments on question: the 40 hour work week vs Silicon Valley? - Less Wrong Discussion
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For these kinds of startups, everyone working is also an investor or owner or is otherwise hitched to the startup's survival. Working extra long hours can be a signal to investors in two ways. First, the workers believe in the idea enough to work double time. Second, the path to knowing whether the investment is worth another investment round will come sooner.