🍋 4-Day Week Gathers Momentum

Author

Short Squeez
January 06, 2022

Together With

"We don't suffer these days from any lack of communication, but rather from all the forces making us say things when we've nothing much to say." – Gilles Deleuze

Good Morning! If 2021 was a great year to be an investor in just about anything (except gold), 2022 has gotten off to a dreadful start. Nasdaq fell 3.3%, as tech stocks booked the worst gains to start a calendar year since 2008. Crypto piled in the misery as all currencies were down bad. The sell-off came after the release of Fed minutes from their latest policy meeting, revealing plans to abandon easy money policies faster than expected given inflation is likely to be higher than they expected over the next two years. Tennis world #1, Novak Djokovic had an equally bad day after his visa was rejected and he was told to leave Australia.

Today's sponsor, Polymarket, allows you to trade on real life events including if inflation will break all records and hit 7.0% in December.

1. Story of the Day: 4-Day Week Gathers Momentum

The 4-day workweek is gaining momentum as Bolt became the latest US company to make the change from a 5-day workweek.

Bolt is San Francisco-based e-commerce developer valued at $14 billion and founded and run by CEO Ryan Breslow, 27, who is a Stanford grad and active Twitter user. Breslow (like any millennial CEO would) announced the move in a Twitter thread.

Breslow says he "couldn’t imagine running the company any other way" after their 3-month successful trial. Results below:

  • 94% are in favor of continuing (6% rumored to be boomers)

  • 86% are more efficient with their time

  • 85% of managers are able to hit OKRs

  • 84% have improved work-life balance 84% are more productive at work

  • 80% have eliminated unnecessary meetings

4-day workweeks might be a good way to tackle The Great Resignation. In November, a record 4.5 million quit their job and the trend is only expected to continue.

Iceland has trialed 4-day weeks, which have been an "overwhelming success," and 85% of workers in Iceland are currently, or on the way to, working 4 days a week. In US and Canada, 30 companies have signed up for 6-month shortened workweek trials.

Other than the obvious benefits of a 4-day workweek, it can also have impacts on gender equality e.g. in the Icelandic study, men were more likely to take on domestic tasks, and not leave them to their partners. People also picked up new interests and hobbies, leading to elevated happiness levels.

Short Squeez Takeaway: It seems like many companies who have trialed the 4-day workweek have switched permanently. Workers across the country are hoping this idea catches on (especially jaded investment banking analysts – special shoutout to Moelis bullpen). Something tells us this will never make it to Wall Street and even if it does, let’s be real you will still be expected to work 7 days a week and might be lucky to not work on your protected weekend.

Source: WSJ

2. Markets Rundown

Stocks got pounded yesterday after the release of Fed minutes of its last policy gathering in 2021 showed discussion around a potentially faster pace of shrinking the central bank’s massive balance sheet and raising rates.

Movers & Shakers

  • (–) Enphase Energy ($ENPH) -12% after Bank of America downgraded the stock to neutral from buy.

  • (–) Salesforce ($CRM) -8% after UBS downgraded to neutral from buy.

  • (–) Adobe ($ADBE) -7% after UBS downgraded to neutral from buy.

3. Top Reads

  • Nike sues Lululemon for patent infringement over at-home Mirror gym and fitness apps (CNBC)

  • You may soon change your car’s color with the touch of a button (BB)

  • Goldman Sachs predicts bitcoin could hit $100,000 (CNN)

  • A master penny-pincher draws a following in Japan (WSJ)

  • Give your money. Give your time. Don’t tell anyone. (Atlantic)

  • Laundry in space? P&G and NASA test fully degradable tide (BB)

  • The Fed hasn’t caught omicron yet (WSJ)

  • China investment firm's shares slump after $6.6bn bailout (BBC)

  • Hedge fund Senvest posts 85% return in 2021 riding GameStop meme, among Wall Street’s best (CNBC)

A Message from Polymarket: Inflation to Keep Mooning?

Inflation is the gift that keeps on giving, as it broke records month after month in 2021.

The Consumer Price Index (CPI), which measures the cost for a market basket of goods and services, rose 0.8% for November month over month and 6.8% on a year over year basis, which is the fastest rate since June 1982.

The December 2021 CPI report is expected to be released on January 12th. Will we see last month top the November numbers?

Polymarket traders are currently forecasting a 60% probability that annual inflation will be 7.0% or more in December 2021. Will anything be able to stop prices from going to the moon?

Trade now or follow the odds on Polymarket. Use code “OWS” to get reimbursed up to $100 on your first day of trading!

4. Book of the Day: Just Tell Me What I Need To Know!: A Practical Guide To Hit The Ground Running At Your First Job and Beyond

Countless new hires struggle to grasp the subtle and often unwritten rules of the workplace. Just Tell Me What I Need to Know! is the practical guide for young professionals looking to hit the ground running at their first job and beyond. With straightforward, concise chapters and real-world examples, this book is the definitive resource for those looking to gain insight into the critical soft skills needed for a successful career.

The book is split into three sections. The first section, “Contribute” outlines the tips and tricks they’ll need to become a fully functioning team member from day one. These chapters are filled with things managers want to see from new hires, but may not tell them for a variety of reasons. Most will pick these up over time through trial and error but why wait?

The second section, “Excel” includes ways to set themselves apart from their peers with next level thinking that will put them on the fast-track. The third section, “Grow” provides tools to help develop essential early habits that will enable their long-term success.

“Don’t let your fear of being judged stop you from asking for help when you need it.”

5. Short Squeez Picks

6. Daily Visual: S&P 500 Closing Highs by Year

Source: Axios

7. Daily Acumen: How to Ramp Up and Get Promoted Fast

·      Position yourself as a problem solver that gets things done

·      Take complete ownership of your work-product

·      Communicate effectively so your voice is heard

·      Know who, when, and how to ask for help

·      Build lasting relationships with colleagues and peers, especially the difficult ones

Source: Phil Grodin

8. Crypto Corner

9. Memes of the Day

 

 

Join the conversation

or to participate.