Why the Tech Elite Is Getting Behind Universal Basic Income

Basic income, it turns out, is in the peculiar class of political notions that can warm Leninist and libertarian hearts alike. Though it’s an essentially low-tech proposal, it appeals to Silicon Valley’s longing for simple, elegant algorithms to solve everything. Supporters list the possible results: It can end poverty and inequality with hardly any bureaucracy. With more money and less work to do, we might even spew less climate-disrupting carbon.

The idea of basic income has been appearing among the tech-bro elite a lot lately. Mega-investor and Netscape creator Marc Andreessen recently told New York magazine that he considers it “a very interesting idea,” and Sam Altman of the boutique incubator Y Combinator calls its implementation an “obvious conclusion.” Albert Wenger, a New York–based venture capitalist at Union Square Ventures, has been blogging about basic income since 2013. He’s worried about the clever apps his company is funding, which do things like teach languages and hail cars, displacing jobs with every download…

via Why the Tech Elite Is Getting Behind Universal Basic Income | VICE | United States.

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