Sam Altman's basic-income study is out. Here's what it found
Sam Altman's basic-income study by OpenAI provided $1,000/month to low-income participants for 3 years. Funds were used for essentials, reducing initial stress but not addressing complex challenges. Recipients showed increased agency but no direct health improvements. Employment rates declined over time.
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Sam Altman's basic-income study, conducted by OpenAI, provided low-income participants with $1,000 a month for three years. The study revealed that recipients primarily allocated the extra funds towards essential needs like rent, food, and transportation. While recipients experienced reduced financial stress initially, this effect diminished over time. The study emphasized that cash alone cannot address complex challenges like chronic health conditions or high housing costs. Recipients exhibited increased agency in decision-making, such as exploring new business ventures or relocating. The study found no direct evidence of improved healthcare access or enhanced physical and mental health among recipients. Despite recipients showing higher individual savings and increased spending on others, the study noted a decline in employment rates in the second and third years compared to the control group. Overall, the study highlighted the potential benefits and limitations of basic-income programs in supporting individuals facing financial hardships.
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