Why providing everyone with a basic income is a terrible idea

Why providing everyone with a basic income is a terrible idea

Matt Krisiloff is in a small, glass-walled conference room off the lobby of Y Combinator’s office in San Francisco’s South of Market neighborhood, shouting distance from some of the country’s wealthiest startups, many of which Y Combinator has nurtured and helped fund. Krisiloff, who manages the operations of the tech incubator’s program for very early-stage companies, is explaining why it is committed to investing an amount said to be in the tens of millions of dollars in a venture that is guaranteed never to make a penny.

It’s the simplest business model conceivable: hand thousands of dollars over to individuals […]

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