Sam Altman conducted an experiment where he provided 3,000 low-income people with $1,000 a month without any conditions to see how they would use the money. Contrary to fears that recipients would spend frivolously or become lazy, the majority used the money responsibly for rent, food, and essential needs. People worked slightly less but experienced improved quality of life, moving to safer neighborhoods, saving, and even increasing their healthcare visits by 10%. This experiment highlights the potential impact of universal basic income on people’s lives and challenges preconceived notions about free money.
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00:00Sam Altman once asked,
00:01If people got free money, would they just play video games all day?
00:04So he tested this out and gave people $1,000 a month.
00:06Way before ChatGPT, Altman was already thinking about life after jobs.
00:10With AI replacing work, what happens when money comes in without a boss,
00:13a shift, or a punch clock?
00:14You'll be surprised.
00:15Through open research, he gave 3,000 low-income people $1,000 a month with no strings attached,
00:20and the results weren't surprising.
00:21There were no luxury buys or PlayStation marathons.
00:23People used it for rent, food, gas, and a bit of breathing room.
00:26They worked slightly less but lived more.
00:27Some moved to safer neighborhoods.
00:28Others saved.
00:29Even ER visits jumped 10% because people finally had money to take care of themselves.
00:33Altman didn't just pitch universal basic income.
00:35He backed it with cash, and what people did says more about our system than it does about them.
00:38So what would you do with $1,000 a month, no strings attached?
00:41Follow Benzinga for more real-world financial experiments that test how money moves people.