VC behind ‘996’ work culture debate defends 7-day work weeks

Investment capital, Harry Stengles, faced a wave of reverse reaction in June after urged European startups to increase their working hours – but now it admits that there is space for the nuances when applying a talisman.

Stebings, Founder of 20VC, a company that manages $ 650 million of money, The founders advised LinkedIn Last month, “7 days a week is the speed required to win now”, to compete with startups in the Silicon Valley and China.

This viral post went, to surprise Stebings, and sparked a discussion about whether the culture of work was “996” Chinese brutality – which means work from 9 am to 9 pm six days a week – is required in Europe.

The conversation is rooted in a continuous stereotype that the scene of technology and the start of operation in Europe Delay Behind the United States and China, which produced technology giants trillion dollars and is known for the implementation of long working hours.

The United States is home to the world’s largest technology companies, such as Meta, Google, Amazon and Apple. Meanwhile, the giants such as Baidu, Albaba and Tensint include.

Seven founders and VCS Share why they resist 996 payment with CNBC, make it at the time.

“What Europe really needs is nothing more than hustle, it’s more aggressive financing,” said Sarah Wrner, co -founder of Josames.

Speaking to CNBC he makes about the repercussions, Stebings said he was not ready for his criticism, and that his original position did not apply to the vast majority of the people who responded.

“I think everything is wrong in Europe, this is a violent reaction,” said Stengles. “We are fighting the companies that are built in Silicon Valley, speed and ability to move quickly, and they really determine success, in artificial intelligence in particular.”

He added: “When you go to the valley now, and when you go to China now, they are working seven days a week in the fastest growing companies. It is simply. So, if you want to be a $ 10 billion company in Europe, and compete against it, you cannot do this from nine to five, from Monday to Friday.”

But European startups are struggling to reach financing in the growth phase. European technology case at Atomico The report for 2024 showed that since 2015, it has been absent from the startups in Europe in Europe nearly 375 billion dollars of financing the growth phase, as the founders lost 300 billion dollars in European investments.

Husmus’ Wernér said that the right level of capital is required for European startups to work extensively without breaking themselves. “If there is a 10 -year team burning to keep up with an American VC of 50 people or start a running from the Chinese government, the problem is not endurance, it’s their maximum table.”

However, Stebings installed this in poor marketing, and the Europeans said not to collect donations compared to their American counterparts. “I don’t think it is a lack of access to criticism at all, and in terms of work ethics there, if you think you can build 10 billion dollars for work and work five days a week, I am sorry to say, you deceive yourself.”

He added that some of the founders had advised “badly” to include the exit slices in their stadiums. “This makes me feel sick, like I plan my divorce when I get married.”

In a blatant contradiction, the Americans are much better in telling exciting stories when they promote their work. “I think, often in the UK, we do the size of aspirations.”