Sam Altman falls out of love with universal basic income

Sam Altman, the CEO of OpenAI, has shifted his stance on universal basic income (UBI), a concept he once championed. During a conversation with The Atlantic's Nicholas Thompson for his series "The Most Interesting Thing in AI," Altman revealed that he is no longer convinced of UBI's effectiveness. He expressed skepticism about the idea that a fixed cash payment could adequately address the challenges posed by the increasing integration of AI into the workforce. Altman reflected on the potential upheaval in the labor market due to AI adoption, stating, "While a fixed cash payment may sound appealing, it doesn't tackle the true needs of society as we transition into this new phase." He emphasized the importance of collective ownership and shared benefits as the dynamics between labor and capital evolve. Back in 2019, Altman was a pivotal figure in UBI discussions, contributing $14 million to a landmark experiment that provided low-income participants with $1,000 monthly for three years. At the project's launch, he argued that guaranteed income was essential for fostering equality of opportunity. However, research findings revealed that although recipients increased their overall spending, there was no clear evidence of significant improvements in healthcare access or overall well-being. In light of his changing views, Altman has begun exploring alternatives to traditional UBI, such as distributing a portion of AI computing resources to individuals, which could be utilized, sold, or exchanged. He stated, "I’m much more interested in ways where we think about kind of collective ownership that could be in compute or in equities or something else." Moreover, OpenAI has recently proposed a Public Wealth Fund aimed at ensuring every citizen has a stake in AI-driven economic growth, regardless of their participation in financial markets. This initiative seeks to provide society with a share in AI advancements and mitigate growing concerns about AI's popularity. Ultimately, Altman emphasized the need to make AI accessible to everyone, warning that limited access could lead to greater economic disparity. "If AI remains difficult to use and not widely integrated, wealthier individuals will drive prices up, leading to further stratification in society," he cautioned. The focus, he concluded, should be on ensuring that AI benefits are broadly shared to foster prosperity and fulfillment across all layers of society.