Betteridge's Law says no, and so do I. I work at one of these companies. The raw productivity level of the people I work with is as high as at any of the dozen other companies (mostly startups) I've worked at over 30 years. I've been the guy who could get away with really working one day a week (but didn't succumb to the temptation) and I honestly have trouble keeping up with some of my peers now. To be sure, a lot of that "productivity" is bandaging self-inflicted wounds, implementing features that everyone knows will be thrown away within a year, and generally going around in circles. Despite that, there's continual forward progress on par with anywhere else I've been. I've worked with some real superstars in my time, and I've never worked with anyone who could put in 20% effort here without getting managed out the door.