alt Hacker News> Who pays for that value, and from what, if all knowledge workers lose their jobs?
They do not care unless these companies can get a bailout.
UBI only exists for companies that are too big to fail. Case in point, 2008 and SVB when there was too much money on the line.
One of the AI companies attempted to guarantee themselves a way for the government to bail them out if they were close to defaulting on the debt from the data center build out.
Replies
fragmede • today at 8:49 PM
> UBI only exists for companies
What's the U stand for in UBI?
SVB didn't get bailed out, their investors and creditors were wiped out. You could argue depositors were bailed out -- as they took the undue risk of keeping more than $250k in a single bank (though as part of a requirement for getting a loan from SVB, you had to have your operating accounts with them. So lots of companies had no choice, as SVB was one of the few banks that would lend to them).
Arguably, the main impact of securing SVB depositors above the $250k limit is that it prevented thousands of people from being laid off that week, as their employers wouldn't have had the money to make payroll the following Wednesday.