Google-Backed Guaranteed Income Pilot Set to Launch, Offering $2,700,000 in Unconditional Giveaways
2 mins read

Google-Backed Guaranteed Income Pilot Set to Launch, Offering $2,700,000 in Unconditional Giveaways

Google, the tech giant, is supporting a groundbreaking project aimed at providing a guaranteed income to families in need. The initiative, called “It All Adds Up,” will allocate a total of $2.7 million to 225 homeless families in San Francisco.

Over the course of five years, the program will give each family $1,000 per month for the first year. This financial support will help families cover their basic needs and give them the opportunity to think beyond their day-to-day struggles. In San Francisco, it takes four minimum wage jobs to afford a two-bedroom apartment, making it extremely challenging for families to find stable housing.

While similar pilot programs have been launched across the United States, including in Tacoma, Washington, Madison, Wisconsin, and Gainesville, Florida, this initiative will be the first to evaluate the impact of guaranteed basic income (GBI) on families in the Bay Area.

An additional 225 families will serve as a control group in the study and will receive $50 per month for one year. These families have previously utilized the Compass Family Services or Hamilton Families housing programs.

Participants in the program will have the freedom to use the money as they see fit. Researchers will collect administrative data and conduct surveys to track the outcomes of the project.

Google’s philanthropic arm, Google.org, is providing support for the program, along with The Abdul Latif Jameel Poverty Action Lab.

It is important to note that the opinions expressed in this article are not investment advice, and individuals should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Transfers and trades in these assets are done at the individual’s own risk, and any resulting losses are their responsibility. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, and it is not an investment advisor.

Leave a Reply

Your email address will not be published. Required fields are marked *