Sam Altman, the CEO of OpenAI, has funded the most extensive basic income study in the United States to date through his nonprofit organization, OpenResearch. The initiative involved providing unconditional cash payments to individuals living below the poverty line for a duration of three years.
The study engaged approximately 3,000 participants, aged 21 to 40, from Texas and Illinois, all of whom earned less than $30,000 annually. One-third of these individuals received $1,000 each month, while the control group received only $50.
Results from the study indicated that those receiving the larger cash amounts had greater freedom to pursue employment opportunities that they found appealing. The researchers concluded that financial assistance can enhance individuals’ ability to make employment choices that resonate with their personal circumstances, aspirations, and values. Recipients demonstrated increased job-seeking activity, characterized by a more selective approach.
One study participant expressed gratitude for the cash transfer, stating that the ability to save allowed them to be more discerning in their job search. They noted, “I don’t have to take a crappy job just because I need income right now. I have the opportunity to hold out and try and find the right fit.” Another recipient reported that the financial support allowed them to accept a lower-paid position in a desired career path, ultimately leading to a six-figure salary within two years. They remarked that without the cash transfers, they would not have been able to take that pay cut.
While the study did not reveal significant differences in employment rates between the two groups, it did show that recipients primarily used the funds to cover essential expenses such as food, housing, and transportation. Some participants utilized the payments to address health issues, including dental work and addiction treatment. Although the financial support provided initial stress relief, many of the health benefits appeared to diminish after two years.
Sam Altman has been a strong advocate for universal basic income, particularly in light of the transformative impact of artificial intelligence on the job market.
In summary, the findings from this noteworthy study suggest that unconditional cash payments not only alleviate immediate financial stresses but may also empower individuals to make more thoughtful career choices. This positive shift toward career fulfillment can ultimately contribute to a more robust and satisfied workforce, highlighting the potential benefits of basic income as a tool for economic security in an evolving labor landscape.