US Markets
Wednesday, April 3rd, 2024 3:05 pm EDT
Key Points
- Steve Cohen predicts the emergence of a four-day workweek as a societal norm, influencing his investment decisions, particularly in the golf startup league TGL.
- Cohen cites the increasing presence of artificial intelligence and lower productivity levels on Fridays as factors likely to contribute to the adoption of a shorter workweek.
- Cohen’s family office, Cohen Private Ventures, acquires the rights to the New York Team in TGL and is reportedly considering investment in the PGA Tour, aligning with his belief in the growing leisure trend.
Billionaire financier and New York Mets owner, Steve Cohen, shared his anticipation of a future where a four-day workweek becomes the norm, a belief that influenced his 2023 investment in the golf startup league, TGL. Cohen expressed this view during an interview on CNBC’s “Squawk Box,” citing the growing influence of artificial intelligence and lower productivity levels typically observed on Fridays as contributing factors to the adoption of a shorter workweek. Cohen’s family office, Cohen Private Ventures, acquired the rights to the New York Team in TGL, a new primetime, high-tech golf league, with potential plans to invest in the PGA Tour as well. While he didn’t specify a timeline for this shift, Cohen emphasized his belief in its inevitability, foreseeing a future where leisure becomes more prominent, leading to increased interest in activities like golf. However, Cohen clarified that should the financial markets remain open on Fridays, he doesn’t intend to grant his traders the day off. Nonetheless, he envisions a broader societal trend towards longer weekends, offering individuals more leisure time.
For the full original article on CNBC, please click here: https://www.cnbc.com/2024/04/03/steve-cohen-says-a-4-day-work-week-is-coming-in-part-because-of-ai.html
