I am asking/answering my own question, hoping it will help someone with the same issue:
If Matlab takes 3+ minutes to start up, how can I speed it up? My startup.m file contains many calls to add directories to my path, and those directories reside on a network drive. For example:
path(path, 'S:\top_code_directory\some_subdirectory') ; % Many calls like this
path(path, genpath('S:\project_directories')) ; % Many subdirectories are added
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