Sam Altman’s Study on UBI Shows Effectiveness in Meeting Needs, Boosting Philanthropy

A study funded by Sam Altman of OpenAI gave $45 million to thousands of Americans as part of a Universal Basic Income (UBI) experiment. In the first phase, 3,000 people in Texas and Illinois received $1,000 each month.

The results showed that most of this money was spent on basic necessities like food, transportation, and rent. On average, participants used the stipend to spend an additional $310 per month on these essential needs.

This suggests that providing regular financial support helps people cover their basic expenses.

The study also found that people who received the extra $1,000 a month were more likely to help others. This extra income not only covered their own basic needs but also improved their overall well-being.

The results suggest that Universal Basic Income (UBI) is effective in meeting essential needs and enhancing life quality, particularly for those with lower incomes.

In short, UBI helps people manage their expenses and enables them to support others, improving their financial and social situation.

Therefore, the study highlights that Universal Basic Income (UBI) is very effective. It helps people pay for basics like food and rent, improves their financial stability, and makes them more likely to help others.

This shows that UBI can significantly improve people’s lives and reduce financial stress. It means that UBI has the potential to make life better and lessen economic difficulties for many people.

Not to mention that Ubisoft claimed that this was a historic representation of Japanese history during the game show THIS YEAR. Now they're trying to walk it back. Ubi can get bent.

— Xothin (@Xothin) July 23, 2024

Impact of Universal Basic Income on Philanthropy and Community Support

The study found that Universal Basic Income (UBI) helps people cover their basic needs and also boosts their spending on helping others.

Those who received UBI spent 22% more on things like gifts, loans, charity donations, and alimony compared to those who didn’t get UBI. This means that the extra money not only improved their own lives but also made them more generous and supportive toward friends and family.

The study shows, those who received UBI at $1000/month stopped working compared to those who only got $50.

UBI works until it satisfies all the needs, after that humans become lazy.

If all your needs and wants are fulfilled why would you work harder?

— Kashatorian (@SuperKash999) July 23, 2024

Therefore, the organizations behind the study found that Universal Basic Income (UBI) had a positive impact on society. With the extra money, people could better support their struggling relatives and friends.

This financial relief from UBI not only improved the lives of the recipients but also helped their communities by making it easier for them to assist others.

Sam Altman’s Vision for AI’s Impact and the Future of Universal Basic Income

Meanwhile, Sam Altman is worried that artificial intelligence (AI) might affect the global economy and disrupt society. He thinks AI could change how people work and earn money.

To help people deal with these changes, Altman supports Universal Basic Income (UBI) experiments. UBI gives people regular cash payments to cover basic needs, which could help them manage financial challenges caused by AI.

In short, Altman believes UBI could be a way to support people as AI changes the job market and social structure.

Sam Altman has proposed a new idea called “universal basic computing.” Instead of giving people cash, this concept would provide them with access to computing power. People could use this computing power for their own needs or share it with others.

The goal is to help people adapt to economic changes caused by AI and ensure they have the resources to succeed in a future where technology is very important. In simple terms, it’s about giving people the tools to thrive in a technology-driven world.