SEATTLE — Staff members gasped four years ago when Dan Price gathered the 120 employees at Gravity Payments, the company he had founded with his brother, and told them he was raising everyone’s salary to a minimum of $70,000, partly by slashing his own $1.1 million pay to the same level.
The news went viral and provoked a national debate about whether efficient capitalism could have a heart. Some Americans lauded Price for treating employees with dignity. However, on Fox Business he was labeled the “lunatic of all lunatics,” and Rush Limbaugh declared, “I hope this company is a case study in M.B.A. programs on how socialism does not work, because it’s going to fail.”
https://www.nytimes.com/2019/03/30/o...imum-wage.html
This is an update on the company Gravity Payments a company where every employee makes at least $70k. The company is doing very well. In the first days, a couple key employees quit because they didn't like getting the same pay as noobs.
The company benefited from all the free publicity the move got them, being the first company to pay everyone $70k. That won't happen with the second company that does this.
Seattle being a left wing place, a lot of their new hires and customers want to work with a company that has Gravity Payments values so that helps too.
I think it's mostly a gimmick, it won't work everywhere, just places where there are a lot of left wing people. It's an interesting experiment if anything.