He has a lot of good points but his universal basic income is fatally flawed. Inflation would skyrocket, but moreover it would bankrupt the country overnight.
I think this is where Elon is flawed as well. It is a bit ironic because he literally is apart of what could be equivalent to UBI but in a real economically empowering way that adds to wealth creation across all demographics and income levels despite any job creation shifting due to AI.
It’s called solar roofs and energy storage in every house and building in the country. Connecting those systems through the distribution grid and creating an energy market where everyone living under those roofs gets a piece of the income.
That total energy output may be enough to power a strongly growing economy with significant GDP and be a model for people/countries globally.
In such an environment, concentration of wealth could be a thing of the past while at the same time increasing prosperity significantly across the entire population, including establishing a greater balance of power due to far more broad based wealth to counter any domination by one group or political faction.
UBI is not tied to any economic output or strengthening on a broad system of prosperity like the system of country wide economic output due solar+storage energy market on all rooftops in the country.
Instead of UBI, the focus would be on making the case for economic prosperity due to “rooftop” solar and energy storage and the future of that system to deliver energy to increase economic prosperity of all Americans.
Yang and Elon are in the right direction, Elon especially needs to see the UBI solution is already within reach right within his own “master plan.”
If Elon can inspire Yang through his past achievements, he can certainly inspire him to see this as the UBI solution that really be the sustainable transformation they both seek.
