#[1]Boing Boing » Feed [2]Boing Boing » Comments Feed [3]alternate [4]alternate [5]alternate [6]BoingBoing (BUTTON) MENU [7]SEARCH [8]STORE (BUTTON) MENU * [9]SEARCH * [10]STORE * [11]Blog : The posts * [12]Forums : Read the [13]rules * [14]Store : Wonderful Products [15](Contact Support) * [16]About Us : Writers and staff * [17]Contact Us : Get satisfaction * [18]Advertise : Thank you for reading * [19]Privacy Policy : The data you generate * [20]TOS : What you agree to CEO gets the last laugh after Fox News called him a "lunatic" for paying all employees $70K [21]Carla Sinclair 8:04 am Wed Apr 14, 2021 When CEO of Gravity Payments Dan Price announced in 2015 that everyone in his company would get a pay raise to at least $70,000 a year, and that he himself would slash his annual salary from $1 million to $70,000, Fox News pounced. The rabid Fox hosts called him "foolish," a "lunatic of all lunatics" and, gasp, a "socialist." They said his employees would be "on the welfare lines." Rush Limbaugh said, "This is pure unadulterated socialism, which has never worked. That's why I hope this company is a case study in MBA programs on how socialism does not work, because it's going to fail." Oh, how wrong they were. Six years later, Dan Price tells us with a series of tweets that his company's revenue has tripled, their company base has doubled, homes owned by employees grew by 10x, and 70% of his employees have paid down debt. And he's "been hailed as a success by [22]Harvard Business School and [23]Inc. magazine," according to [24]HuffPost, "which noted the number of employees at Gravity has doubled while the value of payments that the company processes has gone from $3.8 billion a year to $10.2 billion." One thing Limbaugh might have gotten right: this company will hopefully become a case study in MBA programs. 6 years ago today I raised my company's min wage to $70k. Fox News called me a socialist whose employees would be on bread lines. Since then our revenue tripled, we're a Harvard Business School case study & our employees had a 10x boom in homes bought. Always invest in people. [25]pic.twitter.com/o7Ca7I4b7e — Dan Price (@DanPriceSeattle) [26]April 13, 2021 Since our $70k min wage was announced 6 years ago today: *Our revenue tripled *Head count grew 70% *Customer base doubled *Babies had by staff grew 10x *70% of employees paid down debt *Homes bought by employees grew 10x *401(k) contributions grew 155% *Turnover dropped in half — Dan Price (@DanPriceSeattle) [27]April 13, 2021 What helped inspire our $70k min wage? An employee was secretly working a 2nd job at McDonald's. It was clear I was an awful CEO who was failing his employees. I gave her a raise to quit that job. No one should have to work two jobs to make ends meet.[28]https://t.co/hrgDYUDXYB — Dan Price (@DanPriceSeattle) [29]April 13, 2021 We started our $70k min wage with about 130 employees in Seattle. It worked so well we expanded it to a new Boise office, where the cost of living is lower but people deserve good pay all the same. We now have about 200 employees[30]https://t.co/0eJxdZYape — Dan Price (@DanPriceSeattle) [31]April 13, 2021 Treating employees well saves money in the long run. For example, our small biz with a $70k min wage received 3,663 job applications this year – 280 per opening. We paid $0 advertising and got great candidates. I keep seeing stories of companies struggling to hire. Wonder why. — Dan Price (@DanPriceSeattle) [32]April 12, 2021 * [33]TWEET * [34]COMMENTS * [35]"invest in people" * [36]dan price * [37]faux news * [38]gravity payments GET THE BOING BOING NEWSLETTER Email Address ____________________ [ ] Ok to Email? ____________________ Subscribe * [39]Fox then and now: watch their extreme about-face on border conditions Wow, what a difference a presidency makes. Watch how these Republican hypocrites comically spin to a different beat on the topic of border conditions now that President Biden is at the helm. For example: Laura Ingraham now: The Border Patrol is completely overwhelmed, facilities overflowing and unsanitary. Laura Ingraham then: We're gonna show you how… [40]READ THE REST * [41]A befuddled Hannity thinks Biden's been president for a week, but Twitter helps him out Trump sycophant Sean Hannity revealed his trouble with numbers when he confused 30 hours with 168 hours. Or 1 day with 1 week. This was last night, when he summed up Biden's "first week" as "disastrous." But help came quickly when the Twitterverse stepped in and brought Sean up to speed with how the days… [42]READ THE REST * [43]Fox News "mistakes" Patti LaBelle for Aretha Franklin You had one job, Fox News. ONE JOB. [44]READ THE REST * [45]The Patriot mask is 100% made in the USA — and right now, it's up to 60% off. The Patriot mask is 100% made in the USA — and right now, it's up to 60% off. The world has changed. And while the ravages of a global pandemic may be slowly subsiding, some of the aftereffects promise to linger for years to come. Masks are now a part of our daily lives, with… [46]READ THE REST * [47]Adjust your bass and listening experience with the Skullcandy Crusher Evo headphones Maybe you're just like Meghan Trainor. Maybe you're really just all about that bass. If you can't imagine listening to your favorite music without some low-end register all but guaranteed to rattle your gut and shake loose a few internal organs, it's worth giving the Skullcandy Crusher Evo Sensory Bass Wireless Headphones a healthy listen. And… [48]READ THE REST * [49]This optical illusion area rug will shred your room's space-time continuum (it won't) There are area rugs that tie together a space. There are area rugs that offer a unique aesthetic to give a room a different look or feel. Then there are area rugs that do both of those things while also filling in the Venn diagram of supremely messing with your mind. And you better be ready.… [50]READ THE REST Read the rules you agree to by using this website in our [51]Terms of Service. We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites. Boing Boing uses cookies and analytics trackers, and is supported by advertising, merchandise sales and affiliate links. Read about what we do with the data we gather in our [52]Privacy Policy. Who will be eaten first? Our forum rules are detailed in the [53]Community Guidelines. 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