For the $60M they are spending on these 1000 people getting free income, YC could instead invest their same standard $120k deal on 500 more startups -- $120k*500=60M. They regularly turn away hundreds (thousands?) of hardworking, dedicated entrepreneurs every year with great businesses that just don't fit their model perfectly, who have likely invested all their time, money and lives building their businesses.
The startups would in aggregate create actual jobs, likely more than the 1000 people that are just getting free money. This investment would incentivize entrepreneurship and more startups being created and creating more jobs....Even as someone who is open to the idea of UBI someday as a public policy/governmental cost, I just don't understand this move. Instead of giving people free money, why not provide pre-seed capital to people who have a legit plan and want to work?
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For the $60M they are spending on these 1000 people getting free income, YC could instead invest their same standard $120k deal on 500 more startups -- $120k*500=60M. They regularly turn away hundreds (thousands?) of hardworking, dedicated entrepreneurs every year with great businesses that just don't fit their model perfectly, who have likely invested all their time, money and lives building their businesses. The startups would in aggregate create actual jobs, likely more than the 1000 people that are just getting free money. This investment would incentivize entrepreneurship and more startups being created and creating more jobs....Even as someone who is open to the idea of UBI someday as a public policy/governmental cost, I just don't understand this move. Instead of giving people free money, why not provide pre-seed capital to people who have a legit plan and want to work?