I Am Sam Altman, President of Y Combinator.  AMA
I&#x27;m working on a piece about universal basic income, and I have the following summary of the how I think that many tech people like yourself believe UBI is going to work:<p>1. Companies innovate by doing things more cheaply with automation than human workers can do them.<p>2. As a result of automation, the more efficient companies reap all the profits in a market as they drive the less efficient companies out of business (and the humans out of jobs).<p>3. This bonanza of profits that automation yields is taxed.<p>4. The taxes from the accumulated wealth of the winners -- wealth that, again, exists because the winning companies&#x27; machines were able to do things more efficiently than the losing companies&#x27; human laborers -- go toward paying the laid-off laborers a basic income.<p>Any I missing anything?