Crypto-powered UBI incoming…CoinDesk (@CoinDesk):🗽 NEW: A new basic income pilot is giving low-income New Yorkers $12K in cryptocurrency to study how to alleviate poverty and improve quality of life.This initiative is funded by Coinbase. https://t.co/1gF5tpTz0i ...

This video is brought to you by Augment Code. Will reaching AGI lock you into a permanent underclass. More and more I'm hearing that from people in Silicon Valley, people who work with artificial intelligence and I had to dig into it.I had to better understand it because if this is true, it has major societal implications. Let me break this all down for you. So first AGI artificial general intelligence is when AI reaches the point that it is better than humans at knowledge work.So developers, customer servi ...

Economists worry that a "universal basic income" would make recipients lazier. Data from programs around the world suggests the opposite is true, write Nobel Prize-winners Abhijit V. Banerjee and Esther Duflo. https://t.co/NvS3njlGnj ...

is this the start of stimmy money printing or are we seeing universal basic income for usa happen in real time?reminder: if you aped your april 2020 covid stimmy ($1200) into:• $btc → ~$19.6k• $eth → ~$39.4k• $sol → ~$303kwhat will you do with your tariff stimmy? https://t.co/vyJM7UrHpU ...

AI is making more jobs obsolete. The solution from Silicon Valley? A universal paycheck, no work required. https://t.co/nSp5b0cIrH ...

Economic System Concerns - The global financial system is under unprecedented pressure due to soaring inequality, massive debt, rising living costs, and economic uncertainty [1] - Capitalism faces a serious test due to financial repression, an invisible tax on savers where interest rates are kept below inflation [4][5] - Consumer debt is ballooning, with total household debt in the US topping $18 trillion and credit card debt surpassing $1 trillion with interest rates averaging over 20% [9] - Real wages have barely budged since the 1970s, while assets like real estate and stocks have soared, benefiting the wealthy and driving inequality [12][13] Historical Context and Evolution of Capitalism - Capitalism emerged from feudalism, driven by entrepreneurs and innovators, and was intellectually championed by Adam Smith [17][18] - Capitalism has adapted throughout history, including interventions by Teddy Roosevelt and Franklin Roosevelt, and the post-World War II welfare states [22][23] - The dismantling of regulations in the 1980s and globalization led to imbalances that ignited the 2008 financial crisis, followed by unprecedented monetary stimulus [24] Challenges to Current Capitalism - Weak growth, extreme inequality, technological displacement, and digital rent extraction combine into what many call late capitalism [37] - Growth is lacking major innovations to drive broad-based prosperity, leading to reliance on artificial means like QE and low interest rates [29][30] - Automation and AI are displacing jobs, potentially making millions economically irrelevant and creating a problem for consumer capitalism [33][34] - Platform economies dominated by giants like Amazon, Apple, and Google are generating revenue by controlling essential services and extracting rents, stifling genuine competition [35][36] Potential Alternatives and Solutions - Potential alternatives include a resource-based economy, universal basic income (UBI), decentralized crypto-based economies, and reformed capitalism [39][40][44][46] - Reformed capitalism could involve breaking up big tech monopolies, closing loopholes for corporations and billionaires, and investing in education and infrastructure [47] Investment Strategies for Economic Shifts - Traditional financial institutions, especially banks and insurers, are particularly exposed due to financial repression [53] - Consumer-facing industries are at risk due to eroded consumer purchasing power [54] - Hard assets like gold, silver, commodities, and selected real estate may perform well under financial repression and inflationary conditions [56] - Industries aligned with government spending priorities, such as infrastructure, energy, healthcare, and defense, may offer opportunities [57] - Decentralized cryptos like Bitcoin and Ethereum may serve as hedges against financial repression and inflation [58] - Geographical diversification and active portfolio management are crucial in navigating the uncertain economic environment [60][61]

Force. Eventually, over the next few years, he wrote in a memo to employees that they should figure out, in his words, how to get more done with scrappier teams. That's nice.Joining us now, former Democratic presidential candidate Andrew Yang. It's a daunting future we have. Mr.. Yang, obviously. And you've been I said we I was at a was it a book party that that I attended for you, a book of six years, six years ago, talking about this on the horizon and the need for maybe even back then, universal basic in ...

Core Insights - World Network, co-founded by Sam Altman, is in discussions with Visa to integrate on-chain card features into its self-custody cryptocurrency wallet [1][2] - The integration would allow World Network wallets to facilitate stablecoin payments to merchants within the Visa network [2] - World Network recently launched a mini app called World Chat, enabling users to send and receive cryptocurrency seamlessly [2][3] Company Developments - World Network has partnered with Razer to implement a "proof of human" technology called "Razer ID Verified by World ID," aimed at enhancing fair play in gaming by verifying human users [3][4] - The company launched its digital wallet and identity technology in July 2023, with goals to create a global financial platform and address income inequality [5] - The initiative includes the use of eye-scanning technology, referred to as "The Orb," to establish a worldwide identification system [5]