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Think there’s no such thing as free money?
Think again.
Big-shot Silicon Valley investor Sam Altman — known for his doomsday prepping and other off-the-wall ideas — is planning to give 3,000 randomly selected people free money for five years, as an expansion of a social experiment he started last year.
The idea is called universal basic income, and it basically means a government, rich individual or other source gives everyone in a community enough money to live comfortably — regardless of whether the recipients work or not. Altman has championed the idea as a possible solution for when robots take our jobs, and the notion is picking up steam among other Silicon Valley techies, including Facebook founder Mark Zuckerberg and Tesla founder Elon Musk.
Altman and his startup accelerator Y Combinator started a small study to test the idea a year ago, initially giving 100 Oakland families about $1,500 a month. Altman paid most of the bill himself. Read the full article at SiliconBeat
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