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Yeah, you can go fuck yourself with your 7 day work week.
What I don't get is...they can just hire more people to do the work and expand the company? When you consider this, you realize that they're just asking people to work 40% more without an increase in pay (hence hiring more people is not an option)...then they call it "productivity gains".
In software development, it's not that easy. Having multiple people working on the same code adds a lot of overhead. Also, finding another excellent programmer is slow and expensive. (The "fast, cheap, good: pick two" rule applies.)
Plus, do you want two software developers with a good work/life balance and fulfilling ways to spend their free time, or do you want one software developer with mental issues that, among other things, leave him with nothing to do except work and no source of meaning in life except getting work done? The first option is more dependable, since the guy in the second option is crazy. However, if you're building a startup then you need to take risks and the second option is the one more likely to create something amazing. (IMO, of course.)
I've worked in startups most of my career and co-founded two companies. This is dumb. Most startups fail and it ain't because people aren't working hard enough.