Many in Silicon Valley support Universal Basic Income. Now the California Democratic Party does, too.

Many in Silicon Valley support Universal Basic Income. Now the California Democratic Party does, too.

6 years ago
Anonymous $gIi3-PxxKB

https://www.cnbc.com/2018/03/08/california-democrats-want-to-pay-to-make-up-for-jobs-lost-to-tech.html

Universal Basic Income is a policy that's been lauded by tech leaders from Mark Zuckerberg to Elon Musk as a proposed solution to job loss due to automation. Last Sunday, it officially became part of California's Democratic Party platform, signaling that the idea is beginning to enter the political mainstream at the same time Silicon Valley leaders are putting their weight behind it.

Universal Basic Income is the idea that all citizens should receive a certain amount of money from the government, with no regulations on spending attached. In recent years, tech leaders have funded major projects in the space: Y Combinator Research piloted a program in Oakland that gave people $1,500 a month for a year, and Facebook co-founder Chris Hughes is funding a project in Stockton for working individuals. He just wrote a book advocating for the idea of giving every working person in the U.S. $500 a month.