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@morningbrew
European employees just got called out. ⁠ ⁠ Speaking with the Financial Times last week, Norges Bank CEO Nicolai Tangen discussed his firm's growing number of investments in the US, and explained that part of the reason the US has become so attractive comes from its workforce. ⁠ ⁠ "There's a mindset issue in terms of acceptance of mistakes and risks. You go bust in America, you get another chance. In Europe, you're dead...We're not very ambitious. I should be careful talking about work-life balance, but the Americans just work harder." ⁠ ⁠ As the CEO of Norges Bank, Tangen oversees the Norwegian Sovereign Wealth Fund. The largest fund of its kind in the world, it's estimated to hold 1.5% of all shares worldwide and $1.6 trillion in assets.⁠ ⁠ While it's up for debate whether Americans work harder, they do work longer hours. According to data from the Organization for Economic Co-operation and Development, Americans worked on average about 1,811 hours a year between 2019 and 2022, compa...

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