Sam Altman’s Bold Move: Can Cash Transfers Transform Lives?

Sam Altman, the CEO of OpenAI, has financed the largest basic income study in the United States to date through his nonprofit organization, OpenResearch. The research initiative provided unconditional cash payments to individuals living below the poverty line for a period of three years.

The study involved around 3,000 participants aged between 21 and 40 from Texas and Illinois, each earning less than $30,000 annually. One-third of these participants received monthly payments of $1,000, while the remaining participants, serving as the control group, were given just $50 per month.

Results from the study indicated that those receiving the larger payments had increased flexibility in their job search, allowing them to seek positions that better matched their personal preferences and goals. 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.”

One participant highlighted how the cash transfers enabled them to build savings, stating, “For once, I’m in a position to be picky. I don’t have to take a subpar job just because I need income right now.” Another participant shared that they accepted a lower-paying entry-level job in a desired field and achieved a six-figure salary within two years, crediting the cash transfers with making such a transition feasible.

The study showed no significant disparities in employment levels between those who received the larger payments and the control group. Recipients primarily increased their spending on essential needs such as food, housing, and transportation. The payments also helped cover health-related expenses, such as braces and alcoholism treatment. While participants initially reported reduced stress levels, many of the health benefits diminished after two years.

Sam Altman has been a strong advocate for universal basic income, particularly as advancements in artificial intelligence continue to reshape the labor market and displace certain jobs.

Correction: A previous version of this article incorrectly identified the organization that led the study as OpenAI; it was actually Sam Altman’s nonprofit OpenResearch.

Popular Categories


Search the website