Company to give residents money for being alive

Credit: MGN Online

OAKLAND, Calif. (NEWS10) – Venture funding company Y Combinator is conducting a study of basic income in Oakland.

Basic income provides individuals with enough money to live on without any strings attached.

Y Combinator says they want to answer questions on people’s happiness, well-being, and financial health are affected by basic income.

“We hope basic income promotes freedom, and we want to see how people experience that freedom,” Y Combinator said. “We believe everyone should have enough money to meet their basic needs – no matter what.”

The company plans on spending the next few months designing the pilot.

The study is expected to last five years.

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