I agree with Kyleb.
If you are only working 4 hours a week you are not working hard enough. I understand that it is an analogy, but instead of convincing your boss to work from home so that you can slack off (instead of slacking off at work) why don't you actually be productive at work and when you finish your job in 4 hours ask your boss if there is more work you could do or other projects you can work on? If there is nothing else possible then you are in a dead end job.
I guess this "system" is okay for people who never want to advance in their careers but I believe more in the American capitalist system than Venezuelan system that Ferriss is advocating.
I also agree that Kyleb nailed it when he said that Ferriss' running a business advice (outsource menial tasks to wage workers) is not exactly revolutionary. It is more like business 101. Actually, it is more like remedial business 100.
And the concept of starting a business and having other people run it for you: I believe that is called venture capitalism and I don't think that that wheel was invented by Ferriss either. Thinking that you will create 1,000 $5,000 a year websites without having to do any of the work is tragically naieve
Here is a picture of Ferriss (third from left) for those who have not seen him:
