Mr Buffett's method - essentially, "work smarter, not harder," - is backed by science.
Bill Gates and Warren Buffett's decades-long friendship has facilitated an exchange of valuable advice. One such piece of wisdom, which Mr Gates acknowledges he would have benefited from learning earlier, concerns time management. Mr Gates suggests this insight could have potentially enhanced both his happiness and productivity.
"It took far too long for me to realize that you don't have to fill every second of your schedule to be successful," Mr Gates posted on Meta's Threads app on Thursday. "In hindsight, it's a lesson I could have learned a lot sooner had I taken more peeks at Warren Buffett's intentionally light calendar."
During his 25-year tenure as Microsoft CEO, Mr Gates micromanaged his time, scheduling every minute of his day. He readily admits to being a demanding leader, known for sending late-night work requests.
In a 2017 interview with Charlie Rose alongside Warren Buffett, Mr Gates revealed a turning point. He previously believed this relentless approach was the only path to success. However, after seeing Mr Buffett's surprisingly light schedule, Mr Gates began to re-evaluate his own approach.
"I remember Warren showing me his calendar ... he [still] has days that there's nothing on it," Mr Gates said, adding that Mr Buffett's sparser schedule taught him an important lesson. "You control your time ... It's not a proxy of your seriousness that you fill every minute in your schedule."
"I can buy anything I want, basically, but I can't buy time," Mr Buffett noted, during the same interview.
Mr Buffett's method - essentially, "work smarter, not harder," - is backed by science.
Research suggests a sweet spot for work hours. A 2014 Stanford study found productivity plummets after 50 hours, with those working 70 hours achieving the same output as those at 55 hours. While some work provides satisfaction, another 2021 study suggests exceeding 9.5 hours of daily free time might be unrealistic, but prioritizing discretionary time can significantly reduce stress and improve long-term health.
Finding this balance can be a challenge. Bill Gates himself acknowledged it took him years to achieve, as he revealed in a 2023 commencement speech.
"When I was your age, I didn't believe in vacations. I didn't believe in weekends. I didn't believe the people I worked with should, either," Mr Gates said.
"Don't wait as long as I did to learn this lesson," he added. "Take your time to nurture your relationships, to celebrate your successes, and to recover from your losses. Take a break when you need to. Take it easy on the people around you when they need it, too."