Billionaire Mets Owner Steve Cohen Believes Four-Day Work Week is on the Horizon

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ICARO Media Group
Politics
03/04/2024 19h46

In an interview with CNBC's "Squawk Box," billionaire financier and owner of the New York Mets, Steve Cohen, expressed his belief that a four-day work week could soon become the norm. This idea has not only influenced his recent investment in the golf startup league, TGL, but also aligns with the increasing presence of artificial intelligence and lower productivity levels on Fridays.

Cohen's family office, Cohen Private Ventures, recently acquired the rights to the New York Team in the new primetime, high-tech golf league known as TGL. Reports also suggest that Cohen is in discussions to invest in the PGA Tour. Cohen stated that he would have made the investment in TGL regardless, as he sees long-term potential in the industry.

Cohen is convinced that the progress in artificial intelligence will contribute to a shorter work week. As automation takes over certain tasks and streamlines processes, the need for a traditional five-day work week may diminish. Additionally, Cohen pointed out that productivity tends to decrease on Fridays, further supporting the idea of a four-day work week.

While Cohen did not provide an exact timeline for the shift, he believes it is imminent. He emphasized that leisure has become a growing theme for people, which, in turn, could increase interest and participation in activities like golf. Cohen expects golf rounds to rise and courses to become crowded as people have more free time.

However, Cohen acknowledged that, for now, he does not anticipate granting his traders a day off if markets remain open on Fridays. He believes that a majority of people will eventually have the opportunity to enjoy a three-day weekend once the four-day work week becomes more widespread.

As the conversation around work-life balance continues, Steve Cohen's optimism for a future with shorter work weeks may serve as a catalyst for businesses and individuals alike to reconsider their approaches to productivity and leisure. Time will tell when the shift will occur, but it seems that the four-day work week is no longer just a distant possibility, but a tangible eventuality.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

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