CEO who gave all his employees minimum $70,000 paycheck thriving six years later

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Dan Price faced praise and criticism six years ago when he boosted all his employee’s salaries to $70,000 a year. But instead of the economic gloom and doom that was predicted for him, the company and its workforce, by all metrics, has thrived.

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40 COMMENTS

  3. i have literally seen it with my eyes how demotivated people are if they get paid way less than they deserve. productivity goes down and people leave the company all the time. you spend millions on mistakes workers make due to them being new all the time

  4. people dont realize how much money companies save by not needing to hire new people. imagine 95% of your workers are there for life, how much money and cost would a company save by having people who know the company in and out stay for life?

  5. This is the type of leader our country need as a President.
    If CEOs accross the nation were treating their employees like humans rather than squeezing every drop of blood from them, the US would be the most advanced society on earth in every aspect.

  13. > CEO pays all employees a living wage
    > “eviscerated as an enemy of capitalism”
    > capitalists hope he fails

    Interesting. Anyway, in case anyone from the CIA is reading, capitalists are the good guys and socialism is the devil.

  14. Truth-

    Remembering their time at Gravity Payments, some employees of the Seattle-based credit card processor recall a pernicious cycle.

    Come in star-struck by celebrity founder and CEO Dan Price, a progressive social media star famous for setting base salaries at $70,000.

    Gravity offered workers pay raises and opportunities to get in on Seattle’s tech boom, but, many former employees said, it came at the cost of stressful days, sleepless nights and lasting memories of working for a man six former employees described as a “manipulative” boss.

    “You see the Dan in the news where he’s very charming and polished and then you’d hear these behind-the-scenes stories,” said Caitlin Palfenier, a former Gravity recruiter. “He either wants you to worship him or, if you don’t worship him, he wants you to be afraid enough to not do anything about it.”

    in interviews with The Seattle Times, more than two dozen former Gravity employees said Price became obsessed with curating his compassionate persona, even if it didn’t match the person behind the viral posts. As CEO, Price cultivated a sense of fear and built a company that, as one former employee put it, was “just there to get Dan famous.”

  16. I'm glad the ceo mentioned how he is much happier than before, even when he was making more because it's not all about the money. It's about feeling fufilled and living in your purpose.

  20. Capitalism and their demon worshippers do not like this. For capitalism to thrive it needs many people at the bottom to exploit to support the few at the top. A CEO would almost never do this if he has a conscious and actually believes he or she is a human being and have what's called integrity. It takes me aback knowing this is being done by a Caucasian man who are the symbol of greed, evil, corruption and wickedness.
    In the case of capitalism there's no greater worshipper of this evil ideology then the USA whose made it their mission for over a century to destroy and push propaganda on foreign countries when a different ideology is setup such as socialism and communism to name a few. Socialism had some in latin america in which the USA planned and toppled government elected leaders with coup's or straight out invasions or support of rebel factions all to destroy socialism. The US has been screaming against communism for a very long time but if you actually study the Soviet Union (old Russia) and China and many more you will find that these countries were never truly communist whatsoever according to the ideological stance. China for example are ruled with tyrannically but uses a capitalistic for its economy.

  24. I take £2.3m per year and pay zero tax as it’s an Isle of Man entity with me living in the UAE. My employees earn £55k to £250k pee year based on value input. I dont feel I’m paid enough and think they’re paid too high. I risked bankruptcy, went through 15 years of failure 3 of which I was homeless to make this happen. People only see what’s on the surface. I’ll sell and likely take home £38m within 2 years so great, but even then it won’t be enough. People just decide what they think is the financial means is fair should apply to all and they shouldn’t be so projective. Stay in your own lane.

  29. A man who understands tax credits. What goes against what ppl expect and from and
    What we usually see in companies and corporations, you are left with a demand. Hence to why he is thriving. Anyone would want to work for this brother. He’s not doing anything wrong.

  30. I don’t even work for him and I wanna buy him a Tesla 😂

    The story got more incredible when they mentioned that they got paid back after the pay cut. This guy has made so many people happy, has provided the means for people to live happily and have families, he has single-handedly helped bring newer generations into this world. Unbelievable.

  37. A man with a big heart. Willingly giving his own money for the sake of employees. He deleted greed from the equation, in turn brought loyalty and love for everyone. I aspire to be like him someday.

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