eBay founder Pierre Omidyar is taking the concept of Silicon Valley philanthropy in a new direction. He's putting up nearly $500k to test a universal basic income (UBI) program in Kenya run by a program called GiveDirectly.
GiveDirectly plans to give cash, with no strings attached, to more than 26,000 people in 200 villages in Kenya. About 6,000 Kenyans will get a long-term basic income for the full 12 years.
Limited research suggests that basic income can provide a host of benefits—lowering drug and alcohol abuse, and increasing education and entrepreneurship. Omidyar's donation will help determine the long-term impact.
