Altman’s Bold Move: Can Basic Income Transform Lives?

Sam Altman, CEO of OpenAI, has funded the largest basic income experiment in the United States through his nonprofit, OpenResearch. The study aimed to provide unconditional cash payments to individuals living below the poverty line over a three-year period.

Approximately 3,000 participants aged 21 to 40 from Texas and Illinois were included in the study, all earning less than $30,000 annually. One-third of these participants received $1,000 per month, while the rest were given $50 as part of a control group.

The results indicated that those who received the higher payments had greater freedom and flexibility in their job search. The study’s authors noted that cash assistance enhances individuals’ ability to make employment choices that better suit their personal circumstances and aspirations. Recipients were reported to be more engaged in job hunting while also being more selective in their options.

One participant shared that the financial support allowed them to save money and be choosier about job opportunities, stating, “I don’t have to take a crappy job just because I need income right now.” Another recipient explained how the cash transfers enabled them to accept a lower-paying position in their desired field, eventually leading to a six-figure salary after two years.

Despite these positive experiences, the study found no significant differences in overall employment rates between those who received the larger payments and the control group. The additional funds primarily went toward essential expenses such as food, housing, and transportation, helping cover health-related costs as well. While the payments initially alleviated stress, many health benefits diminished after two years.

Altman advocates for universal basic income, especially as advancements in artificial intelligence continue to reshape the job market and displace certain roles.

A correction was issued regarding the organization that conducted the study; it was Sam Altman’s nonprofit OpenResearch, not OpenAI.

Popular Categories


Search the website