To mitigate poverty, Y Combinator set to launch minimum income plan
(credit: Jaegar Moore)
OAKLAND, Calif.—Earlier this month, Y Combinator, the famed Silicon Valley incubator dropped a bombshell: it had selected this city to be the home of its new “Basic Income” pilot project, to start later this year.
The idea is pretty simple. Give some people a small amount of money per month, no strings attached, for a year, and see what happens. With any luck, people will use it to lift themselves out of poverty.
In this case, as Matt Krisiloff of Y Combinator Research (YCR) told Ars, that means spending about $ 1.5 million over the course of a year to study the distribution of “$ 1,500 or $ 2,000” per month to “30 to 50” people. There will also be a similar-sized control group that gets nothing. The project is set to start before the end of 2016.
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