The End of Work? AGI Will Make UBI a Necessity (Universal Basic Income)

Summary

The video script discusses the potential necessity of Universal Basic Income (UBI) in a future dominated by Artificial General Intelligence (AGI). As automation increases, the traditional labor economy may be disrupted, leading to job displacement and a need for a social safety net. UBI, characterized by regular, unconditional cash payments from the government to all citizens, could be a solution to poverty and economic disparity. However, the script also raises concerns about the potential for inflation, funding challenges, and the possibility of government-issued programmable money with restrictions. It concludes with the assertion that while UBI might be necessary, it must be implemented thoughtfully to avoid creating a dystopian society.

Takeaways

• 🤖 **AGI Impact**: The rise of Artificial General Intelligence (AGI) is expected to significantly disrupt labor markets, potentially leading to a need for Universal Basic Income (UBI) to support displaced workers.
• 💵 **UBI Definition**: UBI is a social welfare policy that provides all citizens with a regular, unconditional cash payment from the government, regardless of their income or employment status.
• 📈 **Economic Shift**: AGI could lead to a post-labor economy where the cost of labor drops to zero, fundamentally changing the basis of capitalism and the value humans derive from their work.
• 🚀 **AI Advancements**: AI leaders like Demis Hassabis and Sam Altman acknowledge the difficulty in predicting the role of money in a post-AGI world, where advanced AI systems may displace human workers.
• 💼 **Job Displacement**: There's a growing concern that as AI becomes more prevalent, jobs will be lost and not sufficiently replaced, leading to an increase in unemployment and a need for UBI.
• 🌐 **Global Support**: Influential figures like Elon Musk support the idea of UBI, suggesting that at some point, no job may be needed as AI could perform all tasks.
• 📊 **Wealth Inequality**: The wealth gap may widen with AGI, as those who own the technology reap the majority of the economic benefits, leaving a larger portion of the population without economic agency.
• 💔 **Social Mobility Concerns**: The fear exists that without intervention, the ability for individuals to improve their economic status may diminish in a world where AGI outperforms human capabilities.
• 💔 **Poverty Eradication**: UBI is seen as a potential tool to eradicate poverty, especially for those who fall through the cracks of society and are unable to escape due to circumstances beyond their control.
• 🛒 **Inflation Risks**: There are concerns that UBI could lead to inflation through increased demand for goods and services, labor supply reduction, and currency depreciation from financing UBI.
• 💡 **Programmable Money**: The implementation of Central Bank Digital Currencies (CBDCs) could facilitate a form of UBI that is programmable, allowing for specific spending incentives and potentially mitigating inflationary effects.

Q & A

What is Universal Basic Income (UBI)?

Universal Basic Income is a social welfare policy that provides all citizens or residents of a country with a regular, unconditional cash payment from the government, regardless of their income or employment status.

Why is UBI becoming an increasingly discussed topic with the rise of AGI?

As AGI could potentially reduce the cost of labor to zero, it may lead to job displacement and a shift away from a labor-based economy. UBI is seen as a potential solution to provide a safety net and maintain economic stability in such a scenario.

How could AGI affect the role of money in the economy?

If AGI leads to a situation where labor is no longer the primary source of economic value, it becomes challenging to predict how money will function, as traditional capitalism is based on the exchange of labor for income.

What are the potential issues with implementing UBI?

Potential issues include inflation, where increased demand for goods and services could drive up prices, labor supply reduction as people may choose to work less, and the financial burden on governments to fund such a program.

How might inflation affect the implementation of UBI?

Inflation could erode the purchasing power of the UBI payments, making them less effective as a safety net. Additionally, if the government funds UBI by printing more money, it could lead to currency depreciation and increased cost of living.

What is the concept of a 'robo tax'?

A 'robo tax' is a proposed tax on companies that use automation and AI, with the revenue potentially used to fund social programs like UBI. The idea is to redistribute the wealth generated by advanced technologies.

How could programmable central bank digital currencies (CBDCs) be used to implement UBI?

Programmable CBDCs could allow governments to impose restrictions on how the UBI funds are spent, such as limiting the expenditure to certain goods or services, or within a certain time frame.

What are the potential downsides of using programmable CBDCs for UBI?

The downsides include a loss of financial freedom, as the government could control exactly how and where the money is spent. There's also the risk of government surveillance and the potential for manipulation of the economy in favor of certain industries.

Why might some people argue against UBI?

Critics might argue that UBI could disincentivize work, be financially unsustainable, or lead to a lack of social mobility if the wealth gap widens significantly due to the increasing dominance of AI and technology in the economy.

How could the increasing wealth gap exacerbate the need for UBI?

As the wealth gap widens, with a few individuals or companies controlling most of the economic value through AI, the majority of the population may find it harder to achieve economic stability and social mobility, increasing the need for a UBI to maintain a baseline standard of living.

What is the potential impact of UBI on poverty and social safety nets?

If properly implemented, UBI could help eradicate poverty by providing a stable income floor. However, if not managed well, it could also lead to a dystopian scenario where people still fall through the cracks and the government's social safety net proves insufficient.

Outlines

00:00

🤖 The Emergence of AGI and Universal Basic Income (UBI)

This paragraph discusses the rise of Artificial General Intelligence (AGI) and its potential impact on the job market, leading to a growing discourse around the necessity of a Universal Basic Income (UBI). UBI is described as a social welfare policy providing regular, unconditional cash payments to all citizens, regardless of income or employment status. The potential for job displacement due to advanced AI systems is highlighted, with the acknowledgment that while UBI might not be necessary immediately, it could become essential as AGI progresses, especially considering the current trend of jobs not being replaced at the same rate as they are lost.

05:01

🌐 The Future of Work and Eradicating Poverty with UBI

The second paragraph explores the future where AI could potentially perform any task, leading to a non-labor based economy and mass unemployment. The need for UBI to eradicate poverty is emphasized, with examples of people falling through societal cracks and the working poor highlighted. The paragraph also touches on personal anecdotes and the harsh reality faced by individuals struggling with unemployment benefits and societal judgment. The potential increase in UBI's necessity due to automation and AGI is discussed, alongside the opinions of influential figures like Elon Musk.

10:01

💰 Funding UBI: Challenges and Inflationary Concerns

This section delves into the potential issues surrounding the implementation of UBI, including the risk of inflation. It explains how increased money supply could lead to higher prices and labor supply reduction, as people might choose to work less if their basic needs are met by UBI. The financing of UBI is questioned, with suggestions that profits from AI-driven companies could be taxed to fund it. However, concerns are raised about companies avoiding such 'robo taxes,' and the potential for programmable central bank digital currencies (CBDCs) to control how and where UBI funds are spent is also discussed.

15:02

🔍 Programmable Money and Its Impact on UBI Distribution

The fourth paragraph focuses on the concept of programmable money, specifically CBDCs, as a potential method for distributing UBI. It outlines how these could be programmed to expire or only be spent in certain areas, influencing spending habits and potentially offsetting issues like inflation. The paragraph also raises concerns about the loss of spending freedom and the possibility of governments controlling economic outcomes through such programmable currencies. The challenges of government oversight and the risk of people falling through the cracks are also highlighted.

20:05

📈 Economic Agency and the Digital Divide in a Post-AGI World

The final paragraph discusses the impact of AGI on personal economic agency and the potential widening wealth gap. It raises concerns about the diminishing opportunities for social mobility as AGI systems surpass human capabilities in the workforce. The paragraph ponders how individuals can increase their income in a world where companies may no longer require human labor, and the potential dystopian future if UBI isn't properly implemented. It concludes with the speaker's belief in the near-necessity of UBI and the caution that it must be managed well to avoid negative consequences.

Keywords

💡AGI (Artificial General Intelligence)

AGI refers to highly autonomous systems that can outperform humans at most economically valuable work. In the video, it's discussed as a driving factor for potential job displacement and the need for Universal Basic Income (UBI), as it could lead to a world where human labor is less economically valuable.

💡Universal Basic Income (UBI)

UBI is a social welfare policy that provides regular, unconditional cash payments to all citizens or residents from the government. The video discusses UBI as a potential solution to poverty and job displacement due to AGI, emphasizing its role in providing a minimum income floor to cover basic needs.

💡Inflation

Inflation is the rate at which the general level of prices for goods and services is rising, and subsequently, the purchasing power of currency is falling. The video mentions inflation as a potential risk associated with UBI, where increased demand for goods and services due to UBI payments could lead to higher prices.

💡Labor Supply Reduction

This concept refers to a decrease in the number of people willing to work at the current wage rate. The video discusses how UBI might lead to a labor supply reduction if people choose to work less or not at all once their basic needs are met by UBI payments.

💡Currency Depreciation

Currency depreciation is a decrease in the value of a currency, often related to increased money supply. In the context of the video, it is mentioned as a possible consequence of financing UBI through large-scale government borrowing or money printing, which could lead to inflation.

💡Robo Tax

A hypothetical tax on robots and automated systems, where the revenue generated would be used to fund social programs like UBI. The video discusses the concept as a potential funding mechanism for UBI, where taxes on companies using AGI could redistribute wealth to support those displaced by automation.

💡Programmable Money

This refers to digital currencies, such as Central Bank Digital Currencies (CBDCs), which can have built-in rules and restrictions. The video suggests that programmable money could be a method for implementing UBI, allowing for direct control over how and where the funds are spent, potentially reducing misuse.

💡Wealth Gap

The wealth gap describes the disparity in the distribution of income or wealth among different social groups. The video argues that the wealth gap is likely to widen with the rise of AGI, as those who own the technology will benefit disproportionately, increasing the need for UBI to maintain social stability.

💡Social Mobility

Social mobility refers to the ability of individuals to improve their social status within their lifetime. The video discusses the potential decline in social mobility in a post-AGI world, where economic opportunities are reduced, making it harder for individuals to improve their income and status.

💡Capitalism

Capitalism is an economic system based on private ownership of the means of production and their operation for profit. The video touches on how the basis of capitalism, which is labor, could be undermined by AGI, leading to a shift in economic value and necessitating a reevaluation of social welfare policies like UBI.

💡Digital ID

A digital ID is a unique electronic identifier that can be used to verify identity online. The video briefly mentions the potential for a digital ID to facilitate the distribution and management of UBI payments, particularly in the context of programmable money and CBDCs.

Highlights

Universal Basic Income (UBI) is a social welfare policy that provides regular, unconditional cash payments to all citizens or residents.

UBI is intended to cover basic needs and is paid in addition to any other income sources.

The rise of Artificial General Intelligence (AGI) could lead to a decrease in the cost of labor, potentially making human labor obsolete.

Investing in AGI-related companies like OpenAI is considered high-risk, with the understanding that the role of money in a post-AGI world is uncertain.

AI leaders predict a future where AGI could displace human workers, necessitating a UBI to support those without jobs.

Elon Musk suggests that in a future with advanced AI, jobs may become optional for personal satisfaction rather than necessity.

The current trend in AI is causing job displacement without sufficient replacement jobs, leading to increased unemployment.

UBI could be necessary to eradicate poverty as automation increases and job opportunities decrease.

There's a concern that UBI could lead to inflation through increased demand for goods and services.

Funding for UBI could potentially come from taxes on companies that profit immensely from AI, though these companies may resist.

Programmable central bank digital currencies (CBDCs) could be used to implement UBI with specific spending restrictions.

The wealth gap may widen with AGI, concentrating economic power and increasing the need for UBI.

The middle class is being squeezed, and without intervention, this trend could exacerbate the need for UBI.

The potential lack of economic agency for individuals in a post-AGI world underscores the necessity for UBI.

New industries may emerge with AGI, but the economic landscape will shift significantly, possibly requiring new policies.

If not implemented correctly, UBI could contribute to a dystopian future where certain groups are left behind.

The discussion around UBI is crucial as society moves towards a future potentially dominated by AGI and automation.

Transcripts

so with the rise of AGI there has been a

lot of discussion with universal basic

income and the potential need for a

universal basic income now if you don't

know what Universal basic income is it's

basically a social welfare policy that

involves providing all citizens or

residents of a country with a regular

unconditional cash payment from the

government regardless of their income or

employment status and there are several

key features of Ubi so essentially it's

a regular cash payment which is probably

monthly or annual to all individuals in

a community or a country and it's always

paid without any conditions or

requirements like means testing work

requirements or other

eligibility criteria it is paid to

individuals rather than households it is

intended to provide a minimum income

flaw or Baseline to cover basic needs it

is paid in addition to any other income

from employment or other sources and it

is universal meaning it is provided to

anyone in the given population not just

targeted groups now that is a quick

definition of Ubi so it can set the tone

for what to understand what we are going

to talk about going forward and Ubi is

something that is going to be

increasingly more discussed as

automation becomes more rampant now the

reason I've decided to discuss AI is

because something that is constant and

something that you may have not realized

is that an Open ai's document where they

are accepting investment they State a

few things and there's one sentence or I

guess you could say three words that

really kind of stood out to me the first

time I read this and this is a suitable

video for me to add this so they say

that investing in open eye is a

high-risk investment investors could

lose their capital and not see any

return it's wise to see any investment

in open eye as the spirit of a donation

with the understanding that it may be

difficult and here's where we get to the

interesting part it says it may

difficult to know what role money will

play in a post AGI world so something

that we've seen time and time again is

that the majority of AI leaders like

people like Demis aabis people like Sam

Alman have clearly stated that it's

quite difficult to understand what role

money is going to play in a post AGI

world because if AGI is what it says it

is it means that the cost of Labor is

going to drop to zero which means that

you know we run on a labor economy this

is going to be a post AGI World which

means that we move into a post AGI slost

labor economy which means things are

very very different and the reason this

is going to be very very different is

because humans have always deived their

value from their kind of Labor and it's

basically just the basis of capitalism

you do something you get paid for it if

you are a nurse you help patients you

get paid if you're a doctor you diagnose

people you get paid if you're a coder

you code you get paid depending on your

cognitive ability essentially if you're

cognitive labor you know if you're a

Tradesman it's usually physical labor

but the point is is that if you have

some kind of Labor that's how you have

your economic value but it's quite

difficult to understand how money works

because we're going to be moving into a

post AGI world so the thing is is that I

would argue that because we're moving

towards AGI and some would argue that

open a already internally achieved it

just not with the skill some sort of Ubi

is going to be needed because the job

losses are going to happen sooner or

later we know that there are Advanced AI

systems coming and we know that these

Advanced AI systems are always going to

displace workers unfortunately but at

least we know this now which means that

there in future we do know that there's

going to be disproportionately

continuing levels of people that find

themselves without jobs and careers as

these kinds of tools get released and

the problem with current AI Trends is

that the jobs aren't replacing the ones

that are lost which means that

increasingly we're seeing more people

out of a job now this means that Ubi is

probably in the future going to be

needed now it might not be needed right

now some people might find you at work

they might transition to other careers

but when we do have agentic services in

2027 2028 and we have a real ramp up in

terms of technology and companies using

these Services rather than actually

employing people I would argue that yes

some sort of Ubi might be needed and

there's going to be a wider increase and

a wider demand for this because a lot of

people who have lost their jobs might

not be able to find new ones and of

course Elon Musk also Champions this

claim he says it's hard to say exactly

what that moment is but there will come

a point where no job is needed mus

continued speaking alongside British

prime minister Ry sunak you can have a

job if you wanted to have a job personal

satisfaction but the AI would be able to

do everything and whilst that does seem

like sci-fi it isn't completely sci-fi

because it is completely possible with

the future advancement in AI that could

lead to an incredible level of AI

ability where it could really just do

absolutely anything which means that

we're going to be in an incredible

position where the economy no longer

runs on our labor and essentially we're

all going to be out of work now of

course I think that AI could be doing

everything and I'm going to be making

another video not sure if it's released

yet on why I on why I think the flip

side is also very important on what

human made jobs will be there but I do

think that you know this is going to be

the future Trend and I think it's

important to pay attention to this so I

think one of the key reasons that Ubi is

going to be needed is because it's going

to need to eradicate poverty okay and

there are two key Concepts to this okay

I don't think that you know and I'm not

arguing for communism or anything like

that but I do see how some people live

and it is honestly atrocious how some

people are left to fall through the

cracks I've seen some people in certain

situations that have literally just been

let down by society and it truly is

astonishing to how people can fall

through the cracks to no fault of their

own they're just bored in a bad

neighborhood their family is just like

already on drugs their family is just in

and out of the system they're literally

just in and out of care and they've

never really had a good shot at life

because their entire environment has of

course you know placed them in

unfortunate circumstances and whilst yes

these are Fringe cases I think that if

we're moving this fast in society I

don't think we should allow certain

people to fall through the cracks there

should definitely be some kind of you

know social safety nets to at least

share the abundance that is going to be

there now of course some people could

argue that yes you need to pull yourself

up by the bootstraps but environment

plays a lot into to how our future

success is impacted more than you do

think and there is even this concept

where people are actually actively

working but they're still trapped in a

cycle of poverty so this is something

that I can completely empathize with

because I do not come from a wealthy

background at all however I did start a

business a couple of years ago and I'm

now doing okay for myself I'm not in

poverty anymore but it is something that

I realize that not everyone is able to

escape due to several issues issues that

like I said before are no fault of their

own and this is going to be further

exacerbated due to AGI and due to

automation when people are going not to

be able to anymore get back into certain

careers and industries that they were

once seniors in so essentially this

person you could see they were evicted

and the Working Poor is a concept of

people who are working but are still

poor so I'm going to show you guys this

article cuz it is truly kind of

heartbreaking but I think we're going to

see more and more of these stories that

are going to lead us more and more

towards the conversation of Ubi so

essentially this person talks about

something that I guarantee most people

are experiencing and it's the rising

cost of food transport and utilities

means that the meager amount of money

I've been able to stretch to cover my

Necessities isn't covering them anymore

so this one was truly it was truly a

tough read Because I can completely

understand how this person was doing so

essentially 16 years ago this person was

on their protest to about teaching award

negotiations and then they unfortunately

broke their leg the teachers union ended

up paying their wage and then you know

she was having an okay life but her ill

health forced her to return to her home

country and then she applied to many

different jobs and wasn't able to get

anything and was stuck on unemployment

benefits and the problem is is that

there are also mental health issues too

that nobody talks about you know she

says there are many issues that have

chipped away at my sense of self-worth

and made my life even harder because a

lot of people do describe people that

are on unemployment benefits as being

lazy people say they're just scaming off

taxpayers money when that couldn't be

further from the case a lot of the times

these people do have to apply for

certain jobs every week to be even

qualified for those benefits and a lot

of the times they are just unable to

gain work because their background just

isn't sufficient for them to get a new

job you can see that this person said my

job provider worsen my depression and

comments on social media about lazy dull

budgers reduce my self-esteem and

increase my resentment and anger and now

the increasing rising cost of food

transport and utilities means that the

me amount of money they've been given

just you know hasn't covered their

situation and this is something that I

think is going to continue right now it

isn't something that is that bad because

we do have an economy that you know

shifts and it rotates and it evolves but

what happens when we start to see large

portions of the economy being automated

by these kinds of systems where they are

adopted I think we're going to see more

and more people start to fall through

the Cs and we're going to start to see

these kinds of things because this isn't

going to be good for the economy at all

if large parts of the economy are

automated we're definitely going to need

to use Ubi because we won't have a large

portion of the economy working so

they're going to need to have that money

to be able to buy goods and services to

keep the economy going around now one of

the problems with Ubi is of course

inflation this is something that has

been discussed before but I guess we

could relate this to something that

happened recently but first i'm going to

talk about inflation so the problem is

is that Ubi could lead to inflation

through several mechanisms and if you

don't understand what inflation is it's

basically if you print more of the money

the money becomes less valuable okay

just think of it simple supply and

demand if there's more something it's

simply less valuable so when people

receive the Ubi payments their

purchasing power increases lead to

leading to higher consumption which is

good and the surgeon in demand can out

Shi the supply of goods and services

which is going to result in demand P

inflation where prices rise because the

demand is greater than Supply so we have

essentially demandable inflation which

is due to you know Ubi then of course we

have Labor Supply reduction so if the

Ubi payments are sufficient to cover

basic living expenses some individuals

might choose to work less or not at all

and this could lead to even more labor

shortages in certain sectors

particularly low wages jobs and then

employers may have to then increase

wages to attract workers leading to

higher production costs which are often

passed on to customers in the form of

higher prices and of course you know

currency depreciation financing Ubi

could involve large scale government

borrowing or printing of money which we

saw recently and if this is not offset

by spending cuts or increased taxes this

is going to lead to an devaluation of

the currency causing imported goods to

be more expensive thereby contributing

towards inflation and there are many

different more things but we did see

this during covid with the stimulus

checks and basically in 2020 the cares

act in March 2020 provided a one-time

economic impairment payment of up to

$1,200 per adult and $500 per child

qualifying under 17 and this was

something that helped out but the

problem is is that they printed so much

money that the dollar some people are

arguing it's now worthless and that's

what's contributing to this cost of

living crisis while the wages are

stagnating um and whilst yes it is good

you kind of have to manage everything

because everything affects everything in

the economy and I'm not going to say I'm

going to do a better job than the US

government but um inflation is is is not

great now essentially of course there's

inflation which could threaten how Ubi

is implemented but I think there is also

the funding for Ubi because some people

are talk about okay if we don't want to

you know print money how on Earth are we

going to fund it so some people are

arguing that once these giant companies

manage to capture all of the world's

economic value or at least 10 to 5 to 3%

of the world's economic value which is

trillions and trillions of dollars those

trillions and trillions of dollars could

be used to pay for it so it says

companies like open AI could make

Unthinkable profits from successful AI

will they share the wealth so this is

something that I've spoken about before

but essentially if you have a company

that doesn't really use any people and

everyone kind of needs that company then

some people are saying that there's

going to be a robo tax in which

effectively those taxes are

redistributed to the economies where it

is being used the most and then that's

how those economies can benefit from it

now I think there's also another way and

I do think that WiFi profits are pretty

good but I would argue that companies

are probably going to fight this to the

death a problem with a robo taxing is

that companies already evade taxes in

crazy ways some of the biggest

corporations literally don't pay any tax

they've got companies in the Cayman

Islands they've got companies in Ireland

Apple has all of this Shady stuff that

they do so I think whilst yes this is

very very I guess you could say

idealistic it largely I don't think it's

going to work because companies want to

give money back to their investors and

they want to just keep keep shooting up

their stock price so they can make their

profits even higher so if they can find

any kind of loophole to avoid this I can

guarantee you they're going to

completely do this and they're going to

avoid that Robo tax okay so then we have

of course here programmable money and I

would argue that this is probably the

most likely scenario in which Ubi is

going to happen however this isn't going

to be as good as you think now I'm not

stating any conspiracy theories or

anything like that because of course

nobody knows what the future is going to

be like but CBD

can be good and they can be bad because

these essentially crypto that are issued

by a central bank so the Federal Reserve

can give you money now anyone can use

crypto anyone knows what crypto is it's

just like money it's just like on the

blockchain but the problem is is that

programmable money can come with certain

restrictions for example I'm not stating

that this is what they're going to do

but it is possible in the future because

it's programmable and they're able to do

this and I'm going to explain why this

is how Ubi is probably going to be

implemented remember before how we spoke

about how Ubi and inflation um these

things kind of go hand in hand and that

you know there's all this you know labor

Supply reduction cost pull inflation all

these kind of you know cost push

inflation um currency depreciation all

of these kind of things which aren't

good that could kind of be offset by

programming the cbdc so what they could

have is they could have incentives to

get people to spend more so they could

have you know $1,000 or $500 or $200 a

week that expires and can only be spent

in certain areas and the reason that I

think this is probably going to happen

is because if the government wants

people to spend more money in a certain

area they could literally just program

the money so that it literally is spent

in that area and I know whilst that does

sound crazy if you do do research on it

you can see that programmable money

programmable cbdcs are likely going to

be coming in the future the Federal

Reserve is working on them all of the

major companies and major world

economies are going to be working on

them and I think that's fundamentally

going to change our economy in the next

20 years because if we do need Ubi it's

going to be easily available you're

going to be able to easily onboard

people there's of course going to be a

digital ID rolling out sometime in the

future and if you're able to program the

money you're able to effectively

distributed equally and you're able to

understand exactly where it goes so I

think that this is probably going to be

how it's invested but of course this

does have its stipulations because

programming money I guess you could say

there's an element of Freedom that isn't

there because if the government can

control exactly how you spend that money

then I guess they could you know control

how certain companies benefit what

industries are booming what industries

aren't I mean there's all sorts of

different things going on there but I do

think that this is definitely going to

be one of the ways that Ubi is probably

going to be distributed now I would also

argue that Ubi could not happen because

sometimes governments don't always look

after you and many people do fall

through the cracks and the problem is is

that with governments is that they

basically just do the bare minimum you

know some countries you know what we

often see is that we see that the rich

are living in these you know luxury

highrises whilst you know not far often

we see that there are homeless people

nearby it's this very almost dystopian

kind of city and society that we're

already living in and I mean how crazy

is it going to look in the future when

this situation gets even worse are there

going to be people that are just left

behind because the government didn't

create a social safety init and the one

that they did create just wasn't enough

and so some people have just been left

behind I mean it's already happening now

what's to say it's not going to get even

worse so I've put here that governments

don't always look after you because they

literally don't they literally just do

the bare minimum and we know that this

capitalist Society can be very very very

unforgiving and the problem is is that

an increasing Trend that we're seeing is

that the middle class is currently

getting crushed an increasing trend is

that we've seen that the middle class is

not making as much money and the upper

income is just steadily increasing and

the lower incomes haven't changed at all

so it's important to pay attention to

these Trends and I think a large

scenario of Ubi reason why it's probably

going to happen is because the wealth

Gap is likely to widen okay if we think

about how Society is right now right now

things are not too bad okay but here's

why things could get worse if we take a

look at how Society is right now I mean

you probably should have Sam here and

Microsoft here but if we look at who

owns the current AI infrastructure who

owns the tech and who is set to benefit

the most from AI you know and AGI it's

the big Tech players okay once

everything is automated you have to

understand humans lose their economical

value and they don't really have as much

agency which means that these

billionaires are going to be capturing

the majority of the economical value

which means that their net worths are

probably going to Skyrocket

exponentially and the average person

They Don't Really own AI which means

that they can't profit from it or

benefit from it as much as these guys

can now I'm not hating on them of course

they've created a company they benefit

this is the system that we exist in but

what this means is that the wealth Gap

just simply widens and then there's that

concentration of power so that is going

to be something that of course is going

to be discussed with Ubi and when you

have only a handful of people that have

billions or even trillions of dollars it

argues that is there going to be a

really real need for Ubi because the

problem and the need for Ubi is as well

is as I've said as these guys own the AI

and as AGI is going to be pretty much

able to do anything most people won't

have a job as Elon Musk said the problem

with that is that there won't be any

social Mobility whilst yes some careers

will still exist you'll still be able to

improve think about it like this okay so

right now if you want to improve your

life you can study hard you can get

better grades you can get to a better

University you can get a better job you

can you know make yourself better in the

interviews you can get better experience

but the problem is is that in the future

an AGI level system will likely surpass

you in all categories it will be faster

than you it can work for 24 hours it can

remember everything and it can do

anything you can do on a computer but

better so you have to ask yourself how

in that digital world can you increase

your income in a way that you can

surpass a company needing you because

previously companies need people in

order to increase their company's value

but what happens when companies no

longer need people they just need an AGI

system it's going to be pretty hard to

beat out an AGI system especially when

it's cheaper than you can run for 24

hours doesn't need sick pay isn't going

to complain there's going to be no

lawsuits I mean it's going to be pretty

incredible in a few years okay and I

think this probably will happen in the

next 15 years but how do you improve and

how do you gain economic agency in this

Society that's why a lot of people as

stating that yes you're going to need

some AGI because if there's no economic

agency then there's literally no way for

you to earn an income and I do think

there will be some industries of course

there's going to be new Industries and

stuff like that but I think that it's

going to be a lot harder than it is now

so there's definitely going to be some

policies and stuff that will need to be

implemented because as the trends we've

seen Ubi is something that I think is

almost certainly going to be needed

because we're moving towards a post AGI

world and that means the current

economic landscape is about to change

and shift in a way we haven't seen

before so what are your opinions on Ubi

I think it's almost necessary but I

think that if it isn't done right it

could definitely be a dystopia

unfortunately