Sam Altman, the CEO of OpenAI, has financed the largest basic income study in the United States to date through his nonprofit organization, OpenResearch. This initiative aimed to provide unconditional cash payments to individuals living below the poverty line for a duration of three years.
The study involved around 3,000 participants aged 21 to 40 from Texas and Illinois, all earning under $30,000 annually. A third of these participants received $1,000 per month, while the remaining group, serving as the control, received only $50.
Findings revealed that those who received the larger payments had enhanced flexibility in job searching, allowing them to pursue positions that were more aligned with their personal aspirations. The authors of the study noted, “Cash can increase people’s agency to make employment decisions that align with their individual circumstances, goals, and values.” Recipients were found to be more active in seeking jobs, albeit more selective in their choices.
One participant commented, “Because of the cash transfer and being able to build up my savings, I’m in a position for once to be picky. I don’t have to take a less desirable job just because I need income immediately; I have the opportunity to wait for the right fit.” Another recipient shared their experience of taking a lower-paid entry-level job in a desired field, ultimately achieving a six-figure salary within two years, crediting the cash transfers as pivotal in enabling that decision.
The research indicated no significant difference in employment rates between recipients of larger payments and the control group. The additional income mostly went toward essential needs, including food, housing, and transportation. Moreover, the payments assisted recipients with health-related expenses, such as braces and addiction treatment. While the initial financial support reduced stress, many health benefits diminished after two years.
Sam Altman advocates for universal basic income, particularly in light of how artificial intelligence may alter the job market and displace certain jobs.