Jack Dorsey just announced he will be funding a universal basic income experiment
[July 9, 2020: Business Insider] Billionaire Jack Dorsey, the cofounder of Twitter, is spending millions to experiment with universal…
[July 9, 2020: Business Insider]
Billionaire Jack Dorsey, the cofounder of Twitter, is spending millions to experiment with universal basic income.
Dorsey's experiment is part of a larger initiative called Mayors for a Guaranteed Income. On Thursday, the group announced the program could impact as many as 7 million Americans across 14 different cities, including Los Angeles; Atlanta; Newark, New Jersey; and Jackson, Mississippi. The involved mayors say they plan to launch guaranteed income pilot programs in their cities at an unspecified future date and lobby federal lawyers to consider a national one, too.
The coalition behind the experiment says giving people a guaranteed income could lift people out of poverty and cushion the economic and career blows of the coronavirus crisis.
Dorsey, who has built up a net worth of $7.5 billion, will sink $3 million from his nonprofit into the program, according to the announcement. The UBI program comes shortly after Dorsey's widely publicized pledge to donate $1 billion to coronavirus relief efforts..... MORE
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Based in Los Angeles, Joseph Shavit is an accomplished science journalist, head science news writer and co-founder at The Brighter Side of News, where he translates cutting-edge discoveries into compelling stories for a broad audience. With a strong background spanning science, business, product management, media leadership, and entrepreneurship, Joseph brings a unique perspective to science communication. His expertise allows him to uncover the intersection of technological advancements and market potential, shedding light on how groundbreaking research evolves into transformative products and industries.
