Remote work has led to a lot of people working a lot less at least in terms of hours. In terms of productivity, however, it seems like the modern economy is actually more productive than ever before. This might seem counterintuitive but there’s a good explanation for this. For one, when people work from home, they’re not held accountable for a certain number of hours but instead for a certain result. So, employees become more result-oriented leading to more efficient progress. Moreover, at home, employees actually have the time to take time off as soon as they finish their work. In-person, they have to stay at work regardless of when they finish their work for the day. Looking back at history though, this is nothing new. Back in the early 1900s, Henry Ford cut working hours from 120 to just 40 which not only led to an insane rise in productivity but it led to more people being able to afford and spend time on cars. The same argument could be made for tech companies. If they set a new standard in terms of working hours, they could bring down regular hours across the globe leading to more time being spent on their platforms. This video explains the fascinating reasons why working less would actually leave tech companies better off.
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Timestamps:
0:00 - People Work Less
1:57 - The Logical Argument
4:59 - The Historical Argument
8:13 - The Cynical Argument
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