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Sam Altman Reconsiders Support for Universal Basic Income

OpenAI CEO Sam Altman has publicly shifted his stance on universal basic income, moving away from his previous support for direct cash payments. During an interview with The Atlantic, Altman stated that while fixed cash transfers may seem appealing, they fail to address the societal needs arising from the massive labor market shifts expected as AI adoption accelerates. He emphasized that the focus must now be on collective alignment and ensuring shared economic benefits rather than simple income supplementation. This change of heart marks a significant departure from Altman's actions in 2019. At that time, he personally contributed $14 million and helped raise a total of $60 million to fund the largest-ever universal basic income experiment. The initiative provided $1,000 monthly payments to low-income participants for three years. Although the study confirmed that recipients increased their spending, researchers found no direct evidence that the payments improved access to healthcare or enhanced physical and mental well-being. Following these results and his evolving perspective on the AI economy, Altman has begun advocating for alternative models focused on ownership rather than redistribution. He now suggests that society should receive a stake in AI compute, equities, or other assets, allowing individuals to own, sell, or trade resources generated by artificial intelligence. This approach aims to foster collective ownership rather than relying on traditional government welfare mechanisms. OpenAI recently formalized a similar concept in a white paper proposing an industrial policy for the AI age. The document outlines the creation of a Public Wealth Fund designed to give every citizen a stake in AI-driven economic growth, including those not currently invested in financial markets. These proposals reflect a broader concern among tech leaders that AI popularity is waning and that wealth stratification could worsen if the technology remains limited or inaccessible to the general public. Altman argued that the true desire of people is not just prosperity, but agency, fulfillment, and the ability to have an impact on their lives. He warned that if AI technology remains difficult to use or accessible only to the wealthy, existing elites will drive up prices, further entrenching economic inequality. Consequently, Altman concluded that the priority must be democratizing access to AI, ensuring it is well-integrated and available to as many people as possible to prevent a divided future.

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