There's one reason VCs are advocating for universal basic income. When a group of college grads do a startup, the startup's biggest expense is paying their living expenses (rent, food, etc.). If you had universal basic income, VCs wouldn't need to waste money on that. College grads are great for startup founders, because it's easy for the VCs to screw them over on terms.

For example, if I tried to start a business, I would be bootstrapping it on savings, sweat equity, and reinvested earnings. I wouldn't sell 10% to a VC for $50k and give him effective control of the business. Most investment terms come with clauses that give the VCs effective control, even though they are minority shareholders. I wouldn't just be selling 10% of the startup for $50k. I'd be selling all the future upside of the business to the VC due to the way the contract gives the VC control. For example, once the $50k is used up, now I have to raise more money, which means going back to VCs for more money.