Google will distribute 2.8 million for free to 450 families. dollars: tests where they will spend their money

Google.org, the philanthropic arm of the search giant, will help 225 families to provide 1,000. US dollars (about 929 euros) per month of guaranteed basic income for 12 months over five years. Another 225 families will be the control group and will receive 50 US dollars (46 euros) per month for the same period.

Google’s funding partner is J-PAL North America, the regional office of the Abdul Latif Jameel Poverty Action Lab, a global research center based at the Massachusetts Institute of Technology.

Money is distributed without any obligations

Through the It All Adds Up program, families who have recently participated in nonprofit housing programs and are 1 to 3 months away from losing their housing benefits will be given money with no strings attached.

The website of the program states that more than 70 percent families participating in the pilot program are headed by single mothers with children under the age of five.

NYU’s Housing Solutions Lab will analyze the results of the pilot project to determine how effective the payments are in helping families maintain long-term housing. University researchers will also assess the impact on participants’ health and financial outcomes.

Google’s financial role is part of its $1 billion commitment to dollars (about 989 million euros) to fight the housing crisis in San Francisco and surrounding areas. Basic income projects have grown in popularity in recent years, in part because data shows they are an effective anti-poverty tool, and participants tend to spend the money on essentials like food, housing and transportation.

Alphabet’s share price rose

Google is known for the generous benefits it provides to employees, including free meals, transportation, and discounted on-campus hotel.

Although it has scaled back the number of perks in recent years, the stark contrast between California’s big tech companies and the wealth of their well-paid workers and the many local residents who struggle to make ends meet is stark.

Alphabet’s share price has jumped 20 percent this year as investors expect it to be a big winner in the artificial intelligence revolution. Last quarter, revenue grew by 15 percent. up to 80.5 billion dollars (74.8 billion euros), and net profit increased by 57 percent. to about 23.7 billion dollars (22 billion euros).