We revisit the dissipative approach to producing and stabilizing spin-squeezed states of an ensemble of $N$ two-level systems, providing a detailed analysis of two surprising yet generic features of such protocols. The first is a macroscopic sensitivity of the steady state to whether $N$ is even or odd. We discuss how this effect can be avoided (if the goal is parity-insensitive squeezing), or could be exploited as a new kind of sensing modality with single-spin sensitivity. The second effect is an anomalous emergent long timescale and a prethermalized regime that occurs for even weak single-spin dephasing. We also discuss a general hybrid-systems approach for implementing dissipative spin squeezing that does not require squeezed input light or complex multi-level atoms, but instead makes use of bosonic reservoir-engineering ideas. Our protocol is compatible with a variety of platforms, including trapped ions, NV defect spins coupled to diamond optomechanical crystals, and spin ensembles coupled to superconducting microwave circuits.
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