New-Tip4903 t1_j6gcwf8 wrote on January 30, 2023 at 3:08 AM

It would be awesome if someone like Elon Musk would start a private company called UBI. The purpose of this company would be to function as a hedgefund for the people. The way you would do it is first determine how much you want someone to survive off of from birth to death. Then you invest enough in an interest bearing account to generate that much.

So if you want to make 100k per year you might have to invest 10million.

So that "employee" will generate 100k to live off per year wbile your initial investment stays with the company.

Once that persons 100 year trust fund is up the original prinicple returns to the company and is reissued to a new "employee" .

It wouldnt work for everyone in the short term but might be a way to wean ourselves off the capitalist machine that is destined to destroy us.

strvgglecity t1_j6ggbch wrote on January 30, 2023 at 3:32 AM

Why would interest even still exist? Why would the stock market exist if nobody worked? A fully automated society could not be capitalist. I can see socialism, or authoritarianism. The reality is that the corporations woul control every aspect of daily life.

rogert2 t1_j6gifd1 wrote on January 30, 2023 at 3:48 AM

"To wean off" pretty much means "bridging the transition from the current system to a future system."

So, saying it won't work for people in the short term also means it is no "weaning off" of anything.

Also, Elon Musk is an awful right-wing sociopath. We should all fear the day that he ends up with power over our livelihoods. The less money and power he has, the better.