Money can buy happiness (temporarily): Results of Sam Altman's Basic Income study

Total individual savings for recipients increased by nearly 25%. ͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­ Forwarded this email? [Subscribe here]() for more NextBig-What is on a mission to enable you to make you micro-smarter every day - across a range of topics (AI to mental health, psychology to economics). Subscribe to experience the magic! Grab your limited-time special offer. [Get 20% off for 1 year]( --------------------------------------------------------------- [Money can buy happiness (temporarily): Results of Sam Altman's Basic Income study]( Total individual savings for recipients increased by nearly 25%. Jul 31   [READ IN APP](   What’s your take on UBI, i.e. Universal Basic Income, i.e. a social welfare proposal in which all citizens of a given population regularly receive a minimum income in the form of an unconditional transfer payment. POLL Do you support the implementation of UBI? [Yes.]() [No]() Given the expected AGI moment, tech billionaires are exploring UBI and OpenAI’s Sam Altman went ahead investing $14mn in one such project. [Upgrade to paid]( The results of Sam Altman's groundbreaking basic-income study have been released, revealing significant insights into the impact of guaranteed income on low-income individuals. [man holding 1 US dollar banknote]( This study, one of the largest of its kind in the U.S., provided participants with $1,000 a month for three years, without any conditions. Here are the key points from the findings: A quick overview of the study - Participants: 3,000 low-income individuals from Texas and Illinois, all earning below $28,000 annually. - Structure: One-third received $1,000 monthly, while a control group of 2,000 received $50 a month. No participants lost existing benefits. - Funding: Sam Altman, CEO of OpenAI, raised $60 million for the study, including $14 million of his own funds. --------------------------------------------------------------- Key Findings - Financial Stability: Recipients primarily used the extra money for essential needs like rent, food, and transportation, improving their financial stability. - Workforce Engagement: Contrary to concerns, participants didn't drop out of the workforce entirely. Instead, they worked fewer hours, potentially seeking more fulfilling or higher-paying jobs... Keep reading with a 7-day free trial Subscribe to NextBigWhat: Startups, AI and You to keep reading this post and get 7 days of free access to the full post archives. [Start trial]( A subscription gets you: Access to all premium posts (and archives) Access to all 3 newsletters, Ability to comment/engage with others Min 40% + Discounts on courses and other NBW products (like courses, conferences)   [Like]( [Comment]( [Restack](   © 2024 Zakti Techmedia Private Limited 677, HSR Layout, Bangalore-560102 [Unsubscribe]() [Get the app]( writing]()