Elon Musk on UBI
The key idea of the video is that universal basic income is necessary to address the potential mass unemployment caused by automation and to provide individuals with a sense of meaning and purpose in a world where jobs are increasingly performed by robots.
Universal basic income is necessary due to the increasing number of jobs that robots will be able to do better than humans, leading to mass unemployment.
Universal basic income will be necessary due to the high output of goods and services and the abundance that automation will bring, making everything very cheap.
People derive meaning from their employment, so if they are not needed or have no labor, it becomes a challenge to find meaning and avoid feeling useless.
Key insights
💰 Elon Musk believes that universal basic income will be necessary due to the increasing automation of jobs and the challenge of mass unemployment.
🤖 "With automation, almost everything will get very cheap."
🤔 Universal Basic Income may be necessary to address the challenge of providing meaning and purpose to individuals who are not needed for labor.
The key idea of the video is that while protecting vulnerable individuals during a pandemic is important, simply sending out checks to everyone is not a viable solution for economic stability.
In a free country, individuals should be allowed to do what they want as long as it doesn't harm others, but some argue that not staying home during a pandemic endangers those who are vulnerable.
There are two arguments: one is to protect the weak and sick while opening up the economy, and the other is to prioritize human lives and shelter in place until a decision is made.
Universal basic income is necessary during times of transition, but simply sending out checks to everyone is not a viable solution for economic stability.
If we don't produce goods and services, there won't be any goods and services, and simply legislating money won't solve this problem.
Key insights
😷 "You should stay home for the people that you even if you're fine even if you know you're going to be okay."
💭 "The there's some people have this absurd like uh view that the economy is like some magic horn of plenty."
Imagine having a guaranteed income, for living, with a little bit of extra to do something, maybe you can succeed and make more money, or fail, but still wont be broke. Poor people with great creativity will be put into use (there are lots of them) and can be as creative as they want
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Joe Rogan: "politics are crazy..." Elon Musk : "yeah..." Joe Rogan: "yeah..." Total earnings during that discussion: 83 billion dollars
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If we had a basic income, those who wished to pretend to work could get out of the way for us who will take their positions and do a better job because we want the job. Most time and money are wasted by the game of surviving in a position you would rather not have. Get them out of the way for us to make a better, more productive world. Get them out of the way and we shall all be free. Work will be a privilege, an honor, a sense of self-worth--not a performance to make money. That's what work should be.
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UBI increases bargaining power for workers because a guaranteed, unconditional income gives them leverage to say no to exploitative wages and abusive working conditions. Employers can't push workers around as much. UBI would be the greatest catalyst for new jobs, entrepreneurship, and creativity we have ever seen.
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I'm a veteran. 8 years in the US Navy. so I'm speaking with consideration for both sides of the dollar sign... 57% of the whole US budget goes to the military (for reference, 18 billion dollars (only 0.55%--literally just over one HALF of a PENNY) goes to NASA for EVERYTHING they do. We can afford to take some money away from the military budget to pay for UBI.
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Good point. The solution is a contribution based system. Everyone doing a skill, craft, or trade they enjoy 2 days a week for free. That would make everything free which would eliviate the need for money. If everyone contributes whatever skills, talents or knowledge they have a couple days a week, society will have an abundance of stuff and people will have an abundance of time, peace and freedom.
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I think UBI can be analogous to gun ownership in some ways. One being, it's a lost cause trying to keep welfare out of the hands of the criminals because they're always going to find a way to game the system (disability being one of the easiest), and that satisfies their urge to "get one over" on society, so they just sit there eating Cheetos all day on their couch with a smirk on their face. With UBI, everyone gets empowered to the same degree no matter what, and so these criminals AT LEAST won't get the satisfaction of having gamed the system and might actually feel compelled to actually EARN some additional money. Secondly, it will aid in establishing a meritocracy since there will be one less excuse for people who "don't make it"; if you have your basic needs covered and you're STILL unable to get the skills to improve your life, then that's one less excuse you can rely on for being a loser. As a right-leaning individual, I like the latter reason better. At the end of the day, the argument about UBI shouldn't be whether it's GOOD or BAD for society, but whether a society can AFFORD it, and if the US can't, then nobody can. It is a luxury that only the tippity-top international players can afford. As a country, it's the ultimate feather in your cap. Do you realize how much more people would be idolizing the US if this got pulled off (if implemented correctly of course)? There is already a TON of money being dumped into social programs as it is, so this can merely be a redistribution of funds. There are way too many issues that distinguish the left and the right as it is, so (given the potential benefit for both sides) I think this should be one that both agree on.
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I love Elon here. He sets Joe silent. I think Joe was silent, cause he knew Elon was right.
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elon actually supports UBI tho bruh lol
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With UBI: there would surely be less homeless people, at least the ones who want to keep their life intact, it would give those a chance who fall on hard times. And the trade off would come in taxes. People who receive UBI would/should get less retirement income. People who do not take advantage of the safety net should receive normal retirement income. Our governments fail to recognize, people have to pay rent, pay for food and other costs. Instead of trying to tackle the drug issue. A UBI would be the ultimate safety net. And it discourage laziness you introduce a trade-off, utilize a UBI(universal basic income) and receive lower future retirement income or benefits, or do no utilize and not see your retirement or future benefits decrease. It’s strange why the government never thought of this, a population of 34 million in Canada, a UBI program of $1300 a month would only cost a fraction of other spending.
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watch Elon with the playspeed on 2x he talks at normal-dude rate.
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Why would I care what a billionaire thinks about UI? Of course he is gonna shoot down UI.
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i'm sorry but the basic principle is we run on money, that is the thing that is just created. I understand that food or processing of food is not created but, the thing that funds that process is money which is just created. there is a fundamental flaw in what they are saying in this vid.
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Universal basic income shouldn't be given until someone is 18
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If you want a honest and real opinion about the UBI why dont you ask THOSE WHO NEED IT? You asked for an opinion on a guy that has amassed BILLIONS of dollars for himself. You see anything wrong with that picture people? He will never go hungry so he can talk shit all day.
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We will have automation to make all the stuff
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UBI wasn't mentioned once in this vid. maybe re-title your vid to "Elon Musk on making stuff"
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HOW CAN TOW PEOPLE IN CANADA LIVE ON $1900 PER MONTH. My friend's income who is as an independent adult on ODSP and getting support from disability because her mom is on disability. The whole check that they get now in 2022 is 1900 per month only. During the pandemic he couldn't even get SERBS. Becauae he had an income so tell me how can two people in canada live on 1900 only. BUT INIVERSAL INCOME WILL NEVER PASS BECAUSE RICH PEOPLE AND THE CONGRESS WILL NEVER ALLOW IT
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If you make no stoff, there is no stoff.
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basic income is the best thing yet I think dudes
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Yes tax me so I don't have to work next to or deal with low production people. I am not jealous of people that settle for less and just sit home eat and watch TV.
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YouTube turned off the like button️
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2:16 he is speaking marsian
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I've got to say, Elon musk seems to talk as if he is malfunctioning all the time, Similar to a robot, Maybe his braini is trying to process to many things at the same time!
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No, what if we made it so if u work u get a UBI. That way people are compelled to work. People that don’t work will get less UBI benefit
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Godbless
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UNIVERSAL INCOME UNIC SOLUTION FOR GOOD IA END ROBOTIC REVOLUTION.
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Where did they talk about UBI? Stupid clickbait Title.
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Universal Basic Income would definitely not help the working class. It would ONLY benefit corporations.... Let's say you net $400 per week.... Universal basic income gives you say.. $300 per week. Businesses will either give pay reductions or fire everyone and rehire at their new wage. That job nets you $400 per week and UBI nets you $300? Your job will now net you $100 per week to offset the UBI, which is giving you $300..... to still net you $400 per week. "Bro, that's just speculation... businesses wouldn't do that" Look at the restraurant/food industry... look how they pay waiters/waitresses.... It's ALL about money..... Elon could pay his workers a lot less too. And he would. CEO's aren't humanitarians... they don't give af about you.... that's why they pay themselves hundreds of millions while their workers can't afford to keep the lights on at home.... As a CEO, you take your pay and distribute what you need to, to your workers, to provide them with a livable wage. Without them, you're nothing. THEN you may pay yourself the large salary you earned with any profits remaining. (CEOs should absolutely make more than employees. They took the financial risks, they put in the sweat and tears to build the company. But they need to respect their employees' contribution) Imo, if a business can't pay its workers a livable wage without kicking the cost to the customers, then that bussiness shouldn't exist. The SOLE PURPOSE of a job is to pay the bills and put food on the table. If it can't do that, it shouldn't exist. "Mcdonalds isn't for people with families to raise, it's for kids to earn some money" Says who? Out of touch boomers?....
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"If we don't make stuff their won't be stuff," ??? I thought Elon was meant to be smart. Everything we need has been here sinc the begining of time Food, Water, animals. You do know You don't need your iphone, its a luxury not a basic neccessity. I realize now this guy is not as much of a visionary as I thought.
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Elon have the poor south. African money
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Misleading title because only Joe brought up Universal Basic income, not Elon. And it was only talked about for like 2 seconds, Literally. Dislike.
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this guy talks with blank words lost on he's face looks so greedy this guy doesn't like the poor he's one of the elies man just look at him lol what a joke
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This didn't make any sense.
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Doge
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Socialism
