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Good question. Most people read the paper on their own time, and we meet over lunch. The meetings themselves are just an hour, so it's not a massive time block. I've found that the people who show up are the ones who are genuinely curious and would be reading this stuff anyway (and sometimes just need a commitment/accountability to do it). Having a group gives them a reason to do it on a schedule.
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That implies that you have a fixed time for lunch and also chat during lunch. I may be the minority but I prefer to eat when I'm hungry and focus on the food instead of chatting. And there is also allergies, as a celiac, I have big troubles eating together with others - they may accidently contaminate my food
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> The meetings themselves are just an hour, so it's not a massive time block

How exactly are the meetings structured? I.e is someone leading discussions? Does each person go around and share thoughts? Etc

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I'm not sure what you mean by menial coding but all my employers have supported this in the past. This was a variety of companies, big tech, startups, etc. I think its more likely your employer is the outlier.
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I’ve been scolded for reading books and documentation for the tasks and software I was asked to build (at a startup) during my regular work hours

No company I’ve worked at has ever had dedicated time for reading papers or articles

Maybe I’ve only worked at outliers?

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In 35 years in the industry, reading and studying during work hours were always supported. Frankly, most places would let us play video games during work hours as long as we met our deadlines.
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Thats my experience as well. Of course not ten paper a day but some learning is always encouraged.

One company had a +1 day. You worked 4 days, had 1 day for learning - everything relevant for the job was fine.

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Speaking as a SWE manager who explicitly “mandates” (not actually mandatory but I strongly encourage following your passions and interests in an academic kind of way!) we do exist, I assume I’m not the only one :)

My team almost always can find an hour between tasks organically so I’ve never really had to push

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This is a very good question. I also struggle to find a good solution to process various signals (papers, tecniques, etc.) with my co-workers while maintaining proper work-life balance. Either you have to be a full time geek, or be left behind..
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