Jack Dorsey Announces $3 Million Donation to Mayors for a Guaranteed Income

On Thursday, Twitter and Square CEO Jack Dorsey said he would donate $3 million to a coalition of mayors piloting universal basic income (UBI) programs. Stockton, CA, Mayor Michael Tubbs founded the Mayors for a Guaranteed Income group last month.

• Member cities include Newark, Atlanta, Compton, St. Paul, Seattle, LA, Oakland, and Pittsburgh.

UBI is “one tool to close the wealth and income gap, level systemic race and gender inequalities, and create economic security for families,” Dorsey tweeted.

Why is this in Emerging Tech Brew?

Looking beyond the coronavirus, automation could boost inequality and permanently eliminate certain job categories over time. UBI proponents, including Mark Zuckerberg and Elon Musk, say the measure could lighten the economic impact of jobs lost to AI software, robots, and autonomous vehicles.

Bottom line: Small-scale income pilots will arm U.S. leaders with more data about whether UBI could be a feasible hedge against automation at a national level.

+ ICYMI: I spoke with Andrew Yang about UBI last March. Today, my coworker who makes newsletters for your ears is interviewing him to get an update. 👀