The Latest Silicon Valley Breakthrough

Tim Knight from Slope of Hope's picture

I guess the rest of the nation might as well face it........we here in this part of the country are just so much smarter than everybody else. As for the business model, I guess they'll make it up in volume.

0922-free

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bjax's picture

It's ok to print trillions for the banks, but not for the people. Even though that money will always end up back at the banks I totally support UBI, other wise life is  nothing more than slavery.

Sledge750's picture

$1000 extra per month would go a long way on my farm!

 

I could hire some part time help, build new fence and have $$ left over for more livestock!

Silver Savior's picture

Pick me please. You can study my gold and silver buying ways. 

Not sure why they need a study because the outcome is obvious. Less stressed, able to finally buy things, eat better etc. 

I Write Code's picture

I like it.  Sign me up, I'll take mine in silver coins.  Or raise it to $10,000 per month and we can do gold.

Dragon HAwk's picture

Gee  wouldn't they  get a lot bigger sampling if they  asked people to fill out a response form saying what they would change in their life, if they were chosen out of the  mail in lottery.

PrivetHedge's picture

Where does this startup get the money from?

Setarcos's picture

Well money from thin air, a la the banks, but THE major flaw would be borrowing from the banks, AT COMPOUND INTEREST, for funding.

Now if, like JFK had in mind, the state used the same method of just printing money with no interest attached, then it could work and would not cause inflation if fiscal (taxation) measures were in place to regulate volume and liquidity, for instance.  Also if everyone got say $1,000 per week, then it could have the same effect as devaluation, i.e. make production cheaper, because private enterprizes could cut their wage costs by $1,000 pw, with plenty of incentive for workers to earn more.

But I'll stop there.  I don't want a bullet to the head, nor a lambasting by certain segments of ZHers.

PrivetHedge's picture

Agreed, many things are broken because we rent our currency, rather than own it.

Silver Savior's picture

Stealth Qe? Trump's desperate attempt to save the economy on his watch?

are we there yet's picture

I. Would be more interested on the effect of making a thousand people be free of being taxed on their labors. I suspect that they would work more and have a better life.

Setarcos's picture

Tax cuts are impossible.  The banks want their pound/ton of flesh through the interest they charge, the payment of which eats up around 60% of tax revenues, or probably 100% for municipalities now.  Compounding interest IS taxation by private banking corporations .  Reagan introduced tax cuts and debt exploded.  Back then there was still a functioning economy of sorts.  Now there isn't.  Don't tell Paul Craig Roberts, but he was in on starting the end game of monetarism and Reagan was an old fool, besotted with Star Wars nonsense, "Evil Empire" false attribution and threatening to nuke the dying Soviet Union.

QIG's picture

We already have the data. Comes from lottery winners. They die mostly, and lose their families, and become miserable and lonely.

Setarcos's picture

Wrong.  Lottery winners get a very large lump sum.  What happens to them - many probably as you say - does not apply to someone just getting a weekly sum which will not significantly change their life style.  Yours is a false argument.

besnook's picture

the seminole indians in south florida have already conducted that experiment for years, so has alaska to a lesser extent. the seminole indians give each tribe member a dividend from the profits of their gambling operations. some drink it/drug it, some invest it, some just live on it. alaska gives an oil dividend to each alaskan. nothing catastrophic happened.

roddy6667's picture

Right now a large percentage of the population gets a monthly check from the government. Social Security, SSDI, Federal pension, military pension, unemployment, Workmens' Compensation, etc. Over half the population. Replacing it with a guaranteed income won't be much different if taxes are raised.

Silver Savior's picture

True but it's hard to get on these programs. You have to qualify which I think is bs. I would welcome a program that would qualify anyone. In fact just automatic.

Funn3r's picture

Universal Basic Income - a concept that has been debated for years all over the world. We are automating jobs away as fast and as hard as we possibly can. What will happen when at last we succeed and all the jobs have disappeared forever?

Until now nobody knew whether Universal Basic Income would work or not. But finally we know! The scientifically-advanced citizens of ZH have broken through the old-fashioned concepts of doing research and reviewing actual facts, and now have the solution! Yes folks it's all caused by libtards, snowflakes, and pruhgressives, not to mention muzzies j00z and dirty socialists. So now we know for sure it will never work and we can spend the money on free shit guns and ammo vouchers instead!

MoreFreedom's picture

One thing's for sure.   This company won't repeat this for even 1% of the population. 

And it's quite a different story when the government goes around and takes the money by force to support a basic income.  People won't like subsidizing others who'd rather not contribute by working.  

Now if they continue by getting people to voluntarily contribute their money, then I'll give my verbal support.  Especially if they give me money. 

 

Silver Savior's picture

From what I hear some people love to work which is very weird. They would work even if it was not worth working. I think it's like pride or some shit. Ego maybe.

PrivetHedge's picture

The government already takes our money by force.

At least this way we get some of it back.

MrMorden's picture

The study will claim that people who get free money have higher satisfaction with their situation and more free time do do things they enjoy.  This will somehow pass as a revelation and justification for this on a universal (e.g. government) scale.  Where will the money come from?  50% from smoke, 50% from mirrors.  We will all get free worthless money while the elites pivot to gold, real estate, and other actual assets.

Sorry_about_Dresden's picture

Where did the $3.5 trillion the Feral Reserve printed since 2007 come from to buy MBS and UST bonds?

How is that any different from welfare for the top 1/10 of 1%???

You should get a clue!

Kefeer's picture

Give one group $45K and tie it to inflation based on the actual cost of living and give the other group $500 a month and then see what happens.  Universal income is coming and will be here within 20-30 years worldwide.  Just one persons opinion.

Kefeer's picture

This is beyond stupid.  $1K per month will get you what exactly, about the same as $50....Insanity gone wild.

Hillarys Server's picture

Give $1,000 and give $50 and check the difference?

In Oakland?!

But many of them already have basic income, namely selling bud and crack!

Why do you think so many of them are standing on street corners anxiously looking right and left?

Kefeer's picture

What a life; always looking for the next evil act to commit and never realizing they are owned by Satan's world.

Silver Savior's picture

But ya can't live in the ghetto with only book knowledge.

dl106's picture
SensibleCon Valley

==================

 

We would be a lot better off with SensibleCon Valley

You wouldn't get serial killer (Kissinger) backed bum projects like TherAnus in SensibleCon Valley.

 

[Dirty old men?

http://fortune.com/2015/10/15/theranos-board-leadership/]

Theranos' board: Plenty of political connections, little relevant expertise

 

 

You wouldn't get away with calling a dodgy app that needs political backing, back-patting and baksheesh in Sensible-Con Valley.

[Cameron aide's Uber 'cover up': Downing Street accused of withholding emails about its secret campaign to help online taxi firm and stop Boris regulating it in London

http://www.dailymail.co.uk/news/article-4351418/Cameron-aide-s-uber-cove...]

 

[Cameron, Osborne, their glamorous chum and the great Uber stitch-up: The disturbing links between No.10 and the online taxi firm as it's revealed one of its major investors now has the ex-Chancellor on its payroll

http://www.dailymail.co.uk/news/article-4347676/David-Cameron-s-chum-ocr...]

 

[David Cameron 'lobbied on behalf of Uber' in London

https://www.ft.com/content/3c5ebc20-1300-11e7-80f4-13e067d5072c]

 

It's time for some 'disruptive language to expose the Wall-Street-Security-State-Subsidised-Tax-Dodging-Flimflam-Complex.

 

 

 

Zero-risk bias's picture

So, the article goes on to state that the sound of a tuning fork being struck alerts the test subject that the payment has been credited each month. Salivation is measured in a small test tube and brought back to the lab for analysis.

Hope Copy's picture

Tax these libtards at anything over $1200 a quarter..  This is not un-earned income as the study implies.

Downtoolong's picture

Under a Clinton Administration, either the government or the Clinton Foundation would have funded their research in a heartbeat. That's the business model. Crony Capitalism. Privatize the profits and socialze the losses.

Honest Sam's picture

For all naysayers this is the only solution with a chance of working IF a global pandemic doesn't wipe out at least a third of the first world population, and most of the third world.

The notion of "work" for your bread is gradually but ever more swiftly becoming obsolete. 

Between the elimination of hundreds of milions of jobs heretofore performed by the underclass for generations, and the shifting of tens of millions more to other countries for pennies on the dollar wages, the necessity for experiments of this kind will proliferate.  I don't see the citizens of any first world country rising up and taking over corporations, governments, and military bases.

A new paradigm will issue forth providing for our daily bread and indeed for generations tens of millions of the lower IQ,  poorly educated, citizens and illegal aliens have been living such a life. 

Scoff and criticize all you want but it's already here in one form or another, and will only increase in logorhythmic progression, interplanetary migration, or the apocalypse.

Work as we know it has been changing under our noses for 30 years and is becoming as obsolete as the Do Do bird.  It's only a matter of time before all the well educated handlers of the effluvia of our culture like accountants, lawyers, and engineers, computer geeks and others not in the top 10% will have to find something else to do with their 5 score and ten.

SofaPapa's picture

@Honest Sam:

One question I think you are neglecting to ask:

Why has "work" been changing under our noses?

What are the incentives that have led to automation and outsourcing?

Personally, I think the timescale to look at is ~45 years. Once a fiat regime is in place, it will always be more profitable to acquire "printed wealth" than to invest in new (job intensive) physical production. Actually producing physical wealth takes more work and involves significantly greater - and much harder to control - risks. We are currently bleeding manufacturing jobs because there is greater incentive to find ways to the spigot than there is to figure out production of new products.  New products employ people.  Much easier from TPTB's point of view, however, just to print their wealth as long as the rest of the world will let them get away with it.

Now given human nature, I am open to the argument that it is unlikely that the uber-class will ever allow real wealth creation again, as that would be a threat to their power (see Orwell's 1984).  In that case, the scenario you describe is the way forward.  But this is not because of some natural process or progression of humanity or technology.  When wealth is defined as printed currency, then the only way to feed people is to print for them too.  But if we offered incentives to actually physically produce useful materials/products, work would still be the most valuable activity toward survival.

This is a very sad commentary on the supposedly "wealthy" societies we see in the U.S. and western Europe today.

Pendolino's picture

That was all going so well until you got to 'logorhythmic'.

Pol Pot's picture

1000 will become obese fat turds...and 2000 will enjoy a free joint each month....they don't need a study....this is what will happen.
On second thought....a few geeks who can not get laid may realize they can go to Bangkok and live it up on a G-note a month....

Minburi's picture

Werid shit like this would never happen if the currency were not debt based. It would not happen in a system of sound money. Just another distraction from the fact that the system is corrupt AF and not sustainable.

oncemore's picture

Soros is going to finance them?

Why do they not build a kibuz in California?

Kibutz must not be located in Palestina.

Pernicious Gold Phallusy's picture

This has been done. It's called the lottery. Big winners wind up dead or broke in 6 months or so.

long-short's picture

the interesting research here will be in the sample breaks 

(assuming that the data is properly collected & analysed).

eg:

does the $1000 bmi encourage people who have jobs to stop working

or inspire people who dont have jobs to start a business or acquire skills to help support themselves.

is there a differnt impact on young people just starting out vs older peeps close to retirement.

what subgroups (if any) use the money to move off grid.

are there different reactions according to politics, education level, religious beliefs, presence of children?

etc etc

any_mouse's picture

A $1,000 body mass index? Sounds like a hooker for client 9.

Crush the cube's picture

Free my @$$, can you imagine the leash of paperwork and reporting these geeks would demand.  They never give anything away free, only help themselves to their bigger portion of the kitty freely.

AnarchistRex's picture

Stupid or a prerequisite for good propaganda?

Such studies give NO EVIDENCE of whether a UBI would work. Simple math and an economics education would tell you that it wouldn't ... but that aside, such studies are only looking at individual behavior WITHIN a NON-UBI economy ... which completely biases behavior and gives no evidence as to the national effects of a UBI.

sebmurray's picture

It only works for the people that earn less than the UBI, since everyone else would have to fund it. UBI has no place in a prosperous society, its just the ultimate expression of welfare in a poor one

Frito's picture

Pretty much any way you cut it, it ends up as stealing from the productive to gift to the stupid and lazy so they can waste it. If the UBI was funded by taxes on productive people, that would be direct theft and redistribution. If funded by the creation of fiat ex-nhilo, that would result in inflation that would steal the value of responsible and productive peoples savings.

 

They are trying to create the financial equivalent of a perpetual motion machine, and they seem stupid enough to think they can do it.

 

The experiment, as it stands, is a bit pointless. It only looks at what happens to the people that recieve the additional money, not the people from whom it would be taken if UBI was introduced as a policy. Most likely effect will be that any recipients who have even a small alcohol, coke or other hard drug habit will only last a few months (probably not quite as bad as a coke head winning the lottery, but close).

I Write Code's picture

They could give it to the old guy in my building who's been living on about $1100/month for the last twenty years, of course he'd probably pass away in shock at the news.

tripletail's picture

For some money, people can become a data point in a machince learning (ML) algo project. Is that an indicator of how far we've fallen as a people?

ML, an enhanced version of statistics, is a predictive analytical joke - as is AI, which has become an umbrella term for every techonolgy invented since the 1950s.

Humans are simply too stupid to invent true AI. And that's a deeply incovenient fact!

stacking12321's picture

with all due respect, you're too stupid to know whether or not humans have the capacity to "invent" true ai.

it is said (correctly so) that with an infinite amount of time, a monkey with a typewriter will re-create the complete works of shakespeare.

same goes for humans creating ai

GreatUncle's picture

We do not have infinite time ... at what multiple of debt to GDP does the wheel finally come off.

Japan 2x +, Greece about 1.6x, UK EU US 1x+ and growing.

snodgrass's picture

$1,000 will make little difference in people's lives and $50 - none.