Sam Altman No Longer Believes In Universal Basic Income

Sam Altman, the CEO of OpenAI, has publicly shifted his stance on universal basic income (UBI), a concept he once championed. In a recent interview with The Atlantic, Altman stated, 'I no longer believe in universal basic income as much as I once did,' arguing that fixed cash payments won't meet society's needs as AI adoption accelerates. This reversal is notable given Altman's previous commitment: in 2019, he helped raise $60 million (including $14 million of his own) to fund a landmark UBI experiment, giving low-income participants $1,000 per month for three years. The study found increased spending but 'no direct evidence of improved access to healthcare or improvements to physical and mental health,' likely influencing his change of heart.

Altman now proposes a twist on UBI: instead of cash, he suggests giving people a portion of AI compute—'compute tokens' that can be used, sold, or traded. In his words, 'I'm much more interested in ways where we think about collective ownership that could be in compute or in equities.' Critics argue this is a modern 'let them eat cake' moment, pointing out that when superintelligence renders millions unemployable, AI compute tokens won't pay mortgages or utility bills—banks don't accept compute as currency. The debate underscores a growing tension between tech utopianism and practical economic security as AI reshapes the labor market.