Totally.
I think that’s where deliverables come into play.
I’ve worked remotely as a W-2 and 1099. As a 1099 I billed hourly and itemized based on the task (15min intervals). So in that sense who cares what I did when in my day.
As a W-2 I need to work 50 hours a week contractually and if I’m being honest go way over that as in practice its more about getting all the work done in a timely manner.
My expectations for subordinates is, show up to meetings on time and prepared, adhere to deadlines, and produce quality work.
If your spouse works nights and you keep that schedule and it doesn’t impact the team I don’t care. We have lots of folks that work nights from home anyway

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Point being I think it works if it’s thoughtful, but it’s not a solution for every business.
Do you/ can you pick your own hours? Like could you work 11am- 10pm?