Sam Altman, the CEO of OpenAI, has financed the largest basic income study ever conducted in the United States through his nonprofit, OpenResearch. This initiative involved providing unconditional cash payments to individuals living below the poverty line for a duration of three years.
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The study included around 3,000 participants aged 21 to 40 from Texas and Illinois, each earning less than $30,000 annually. One-third of the participants received $1,000 per month, while the rest, serving as a control group, received only $50.
The findings revealed that those who received the larger cash payments had greater freedom to search for jobs that aligned with their interests. The study’s authors noted, “Cash can increase people’s agency to make employment decisions that align with their individual circumstances, goals, and values.” Recipients demonstrated a higher likelihood to seek jobs, albeit being more selective in their choices.
One study participant expressed, “Thanks to the cash transfer and the ability to save, I can afford to be choosy,” adding, “I no longer have to accept a poor job just out of immediate financial need. I have the chance to find a suitable fit.”
Another recipient mentioned that the financial support allowed them to accept a lower-paying entry-level job in their desired field, ultimately leading to a six-figure salary within two years. “Without the cash transfers, I wouldn’t have been able to make that salary sacrifice,” they stated.
Overall, the study indicated no significant difference in employment rates between the larger payment recipients and the control group. Recipients primarily spent the funds on essential needs, including food, housing, and transportation, and utilized the money for health-related expenses such as braces and alcoholism treatment. While the payments initially alleviated stress, many of these health benefits diminished after two years.
Sam Altman advocates for universal basic income, particularly as artificial intelligence transforms the job market and displaces certain employment opportunities.