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$3.7 BILLION HEDGE FUND: ‘Perhaps we need to put our phones down and get back to work’

Cellphone addiction, particularly among millennials, may be hurting the labor force and the economy at large.

That’s according to a $3.7 billion New York hedge fund, Tourbillon Capital Partners.

“Perhaps we aren’t in secular stagnation. Perhaps we need to put our phones down and get back to work,” founder Jason Karp wrote in the firm’s third-quarter investor letter, a copy of which was obtained by Business Insider.

“At the risk of sounding like an old-man curmudgeon and a Luddite, I believe this to be a massive problem for society at large,” Karp added. “All businesses globally, where employees have smartphones, are not getting as many true labor hours as we think.” – READ MORE