Billionaires Clash Opinions Over Universal Basic Income, ‘One Of The Worst Possible Responses’

Universal Basic Income (UBI) is one of the best responses that many in the world see to the rising rate of poverty and the inevitable dominance of automation. As expected, opinions conflict on the matter, with some supporting it and others being against it. Tesla CEO Elon Musk is one of the most enthusiastic proponents of UBI, saying that it needs to happen soon. On the other end of the aisle is fellow tech billionaire, Mark Cuban who calls it “one of the worst possible responses” with regards to automation.

It’s not unusual for two people to have a different opinion on any subject, but Musk and Cuban are not just any people. The pair has such influence in how the world’s economy works that their views on anything could either make it or break it. In the case of UBI, Cuban was recently asked if he was for it, considering that he recently tweeted his concerns about automation. It turns out that he isn’t, Business Insider reports.

In his tweet, Cuban stressed that unemployment is going to rise due to automation, which is something that most experts and scientists agree on. As a result, the owner of the Dallas Mavericks urged everyone to prepare for this inevitable development.

For a lot of economists and a growing list of nations, UBI is the answer to automation and income inequality, in general. It seems that Cuban thinks otherwise and in an email sent to BI, he sees the concept as a “slippery slope.” There’s also the question of implementation that might be harder to figure out than proponents seem to think.

“Should I get UBI? Who doesn't get it? How much? Who pays for it? How?" the email reads.

In any case, UBI isn’t a new concept. Economists and financial experts have been playing around with the idea for decades. Now, it is being tested in countries like Finland and Kenya, Futurism reports.