According to hedge fund titan and billionaire owner of the New York Mets, Steve Cohen, a four-day workweek is on the horizon. Cohen, currently CEO and chairman of Point72 Asset Management, believes that the rapid proliferation of AI will make this shift possible. He noted that studies suggest people are less productive on Fridays and stated that a four-day workweek is inevitable. While the idea of AI improving companies' bottom lines is enticing, former Treasury secretary and OpenAI board member Larry Summers remains cautious, as he does not foresee an immediate productivity revolution. Cohen did not provide a specific timeline for the implementation of the four-day workweek but discussed how he stands to benefit personally, with investments in leisure activities such as golf. Cohen, known for his high-profile investments in sports, acquired majority ownership of the New York Mets in 2020 and has invested in initiatives like the TGL high-tech golf league.
He also mentioned that investing in leisure-related industries and experiences would be a lucrative area in the future. Even without the four-day workweek, Cohen emphasized that his focus on golf investments aligns with a broader theme of promoting leisure activities. He acknowledged that Fridays are already less productive in most offices and suggested that golf courses might become crowded on those days. Notably, Cohen clarified that while he supports the idea of a four-day workweek, his staff at Point72 should not expect to have Fridays off as market operations continue. He warns against managers taking time off when the market is open. Cohen believes that, eventually, the majority of people will have the opportunity to enjoy a three-day weekend. As an example, he mentioned upcoming games for the Mets in Detroit and Cincinnati, highlighting the potential for longer weekends.
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