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ISSUE – Oct. 17 | What Silicon Valley gets wrong about universal basic income

Kai-Fu Lee is the chairman of Sinovation Ventures and the president of its Artificial Intelligence Institute. He was the founding president of Google China.

According to my estimate, roughly half of all jobs will disappear in the next decade. Routine and mechanical occupations will soon be replaced by artificial intelligence and robots at an unprecedented rate across the globe. This enormous challenge has breathed new life into an old idea called universal basic income, or UBI, in which the government provides a steady stipend for each citizen regardless of need, employment status or skill level. So should we blindly give $10,000 to everyone then? Absolutely not. [ Washington Post ]

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