Mark Zuckerberg just gave a speech at Harvard this week, and in his Commencement speech he discussed how he thinks the government should give out free money.
According to Facebook’s CEO, there is a need for a universal basic income for Americans.
“Every generation expands its definition of equality. Now it’s time for our generation to define a new social contract. We should have a society that measures progress not by economic metrics like GDP but by how many of us have a role we find meaningful. We should explore ideas like universal basic income to make sure everyone has a cushion to try new ideas.”
Zuckerberg admits that his own success came from his confidence of knowing that if Facebook, the social networking giant that it is today, would have failed, he would still have had a safety net.
According to Zuckerberg, having a universal basic income would provide a cushion for children who can spend their time learning and not supporting a household.
Sam Altman, the president of venture capital firm Y Combinator also agrees with this idea as he said a year ago, “everyone should have enough money to meet their basic needs—no matter what, especially if there are enough resources to make it possible. We don’t yet know how it should look or how to pay for it, but basic income seems a promising way to do this.”