Friedberg

So in a UBI world, no amount of money will actually make someone satisfied or meet their minimum thresholds because those minimum thresholds will simply shift. And the second issue is just the net economic effect. If we gave 350 million Americans a thousand bucks a month, that's $350 billion a month. That's $4 trillion a year.

Our prospective budget for next year is $7.3 trillion at the federal level. So that's already more than 50% of the total projected federal budget next year. finding the mechanism for funding this at scale is not what this study actually looked at. Because if you look at it, the net effect would be inflationary.

Our prospective budget for next year is $7.3 trillion at the federal level. So that's already more than 50% of the total projected federal budget next year. finding the mechanism for funding this at scale is not what this study actually looked at. Because if you look at it, the net effect would be inflationary.

And that's the third major reason is that ultimately this would have an inflationary effect. Anytime we've stimulated the economy with outside money, with government driven money, We see mini bubbles emerge and we see an inflationary effect. So look at COVID. There were all these little bubbles that popped up in the financial markets. We had NFTs, we had crypto.

And that's the third major reason is that ultimately this would have an inflationary effect. Anytime we've stimulated the economy with outside money, with government driven money, We see mini bubbles emerge and we see an inflationary effect. So look at COVID. There were all these little bubbles that popped up in the financial markets. We had NFTs, we had crypto.

We had all these sort of new places that money found its way to. And then we had an aggregate inflationary effect. Food prices are still up 30, 40% since COVID.

We had all these sort of new places that money found its way to. And then we had an aggregate inflationary effect. Food prices are still up 30, 40% since COVID.

And so net net, I think that the study provides an interesting insight into the micro effects, the psychological effects, the social effects, but the macro effects are what is so like simply arithmetically obvious, which is inflation, and an inability to actually fund this at scale. And fundamentally, people want to work.

And so net net, I think that the study provides an interesting insight into the micro effects, the psychological effects, the social effects, but the macro effects are what is so like simply arithmetically obvious, which is inflation, and an inability to actually fund this at scale. And fundamentally, people want to work.

So they'll take that money, and then they'll go find ways to work and generate more money. And you have this inflationary effect. So I think that net UBI does not make sense.

So they'll take that money, and then they'll go find ways to work and generate more money. And you have this inflationary effect. So I think that net UBI does not make sense.

Or would you just... Well, that's not UBI, right? And what you're describing, I think, exists. And there are incentives and programs and opportunities out there. People can... sign up with Roth IRAs, they can contribute some percentage of their paycheck to a 401k if they have a job that has a 401k set up for them.

Or would you just... Well, that's not UBI, right? And what you're describing, I think, exists. And there are incentives and programs and opportunities out there. People can... sign up with Roth IRAs, they can contribute some percentage of their paycheck to a 401k if they have a job that has a 401k set up for them.

There's a lot of systems and mechanisms out there and you get tax breaks for doing that. So there's mechanisms and incentives out there to do that sort of thing. The concept with UBI is can you pay people a flat amount of money so that they don't have to work and then they end up being able to explore and do other things with their life as the robots and AI does everything for them.

There's a lot of systems and mechanisms out there and you get tax breaks for doing that. So there's mechanisms and incentives out there to do that sort of thing. The concept with UBI is can you pay people a flat amount of money so that they don't have to work and then they end up being able to explore and do other things with their life as the robots and AI does everything for them.

And I've just always been of the belief that I don't think that there's this natural border that we hit beyond which humans don't work. I think that AI based tools and automation tools are the same as they've always been. When we developed a tractor, people didn't stop farming. They could get much more leverage using the tractor and farm more and new jobs and new industries emerge.

And I've just always been of the belief that I don't think that there's this natural border that we hit beyond which humans don't work. I think that AI based tools and automation tools are the same as they've always been. When we developed a tractor, people didn't stop farming. They could get much more leverage using the tractor and farm more and new jobs and new industries emerge.

And I expect that the same thing will happen with this next evolution of technology and human progress. Humans will find ways to create new things, to push themselves forward, to drive things forward. and for the natural market-based incentives that fundamentally are rooted in this internal system of desire will create new opportunities that we're not really thinking about.

And I expect that the same thing will happen with this next evolution of technology and human progress. Humans will find ways to create new things, to push themselves forward, to drive things forward. and for the natural market-based incentives that fundamentally are rooted in this internal system of desire will create new opportunities that we're not really thinking about.

So I don't believe in this idea of UBI and some utopian world where everyone's happy not working and letting machines do everything for them. I think that the fundamental sense of a human is to find purpose and to realize that purpose, to drive themselves forward and progress themselves. And I think that that's always gonna be the case.