Mark Zuckerberg supports universal basic income – PLoS Blogs (blog)

Last week, Facebook founder Mark Zuckerberg received an honorary degree from Harvard University. At the commencement, he promoted the idea of a basic income guarantee, joining several other tech leaders in advocating for this idea. Tech leaders can see a world where robots and AI are doing a lot of work currently performed by humans, and so are already considering how those who lose their jobs will be retrained for the new economy that emerges. While some are focused on rearranging deckchairs, they are focused on how this workforce can be retrained and deployed in the new industries that will emerge, and most importantly, what will resonate with them.

Purpose is that sense that we are part of something bigger than ourselves, that we are needed, that we have something better ahead to work for. Purpose is what creates true happiness.

Youre graduating at a time when this is especially important. When our parents graduated, purpose reliably came from your job, your church, your community. But today, technology and automation are eliminating many jobs. Membership in communities is declining. Many people feel disconnected and depressed, and are trying to fill a void.

Zuckerberg focused on several themes in his speech, but sprinkled throughout was the idea that people need to take risks to find purpose. He acknowledged his own privilege, and the idea that the reason he could take risks was because of his background and parents. However, without that cushion, he wouldnt have had the freedom to learn new skills and take risks. We already know that an important public health issue is growing income inequality, and if only those with a safety net are allowed to take big risks with associated big payoffs, then we are limiting our pool of ideas to a small group of select individuals. From his speech:

Look, I know a lot of entrepreneurs, and I dont know a single person who gave up on starting a business because they might not make enough money. But I know lots of people who havent pursued dreams because they didnt have a cushion to fall back on if they failed.

We all know we dont succeed just by having a good idea or working hard. We succeed by being lucky too. If I had to support my family growing up instead of having time to code, if I didnt know Id be fine if Facebook didnt work out, I wouldnt be standing here today. If were honest, we all know how much luck weve had.

Every generation expands its definition of equality. Previous generations fought for the vote and civil rights. They had the New Deal and Great Society. Now its our time to define a new social contract for our generation.

As a result, Silicon Valley will be keeping a close eye on Ontario. The Government of Ontario has announced a basic income pilot project under which eligible individuals will receive up to $16,989 per year, while couples will receive up to $24,027 per year.This program has skeptics and detractors. The idea that this will disincentivize people to work, or that it will be more expensive than existing programs are common ones that emerge. The program proposed by the Government of Ontario will address this through a rigorous evaluation.They have committed to a three-year study in three Ontario communities, and will be measuring the following outcomes: food security, stress and anxiety, mental health, employment, health and healthcare usage, housing stability, and education and training. The latter is what Zuckerberg and others in Silicon Valley are most interested in, as having the time and ability to learn new skills is a luxury not very many people have.

Millenials can expect to change jobs 4 times in their first 10 years out of college; almost double that of those graduating from 1986 to 1990. With the skills required to join the workforce constantly evolving and changing, giving people a safety net to not only take risks, but to learn new skills, is vital to ensuring we continue to innovate collectively. Giving more people with the opportunity to take risks, could result in more creative and unique solutions is a good thing for all involved.

The full text of his commencement address is available here.

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Mark Zuckerberg supports universal basic income - PLoS Blogs (blog)