CEO who gave all his employees minimum $70,000 paycheck thriving six years later
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- Опубліковано 14 вер 2021
- 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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The benefit to his COMPANY was good
The benefit to his SOCIETY was enormous
The problem has always been corporate greed at the top. CEOs aren't running and growing a company to benefit the employees. They're doing it for themselves and only themselves, for as long as they can before they move on to the next company. And how do they do it? Cut cut cut cut cut cut expense. And compensation is the #1 expense.
@@mindeloman LMAO.... Read up on that creep. He isn't what this video claims he is.
@jonasandezekiel1109 I don't need to read up on this particular creep. I've got enough to deal with my own CEO creep demanding we have 70% operating profit. He's probably chasing a bonus. Meanwhile we operate with less people than we need and everyone is looking to leave because they aren't making what they used to. American corporate economics in a nutshell.
@@mindeloman Best comment everrrrr
resigned as CEO of Gravity Payments on August 17, 2022
A business where the employees DECIDE to buy the CEO a new car?
What a plot twist.
lmfao never heard of that a day in my life
Lmbo 🤣🤣🤣 yeah
A grateful one! Employees who knows their boss got their back!.
That truly is amazing
The stranger part is that he is deserving of their generosity
This is so adorable
This CEO just created 100s of loyal friends that are willing to take a personal hit INSANE!!!!!!
Edit: some big a** allegations Jesus
Exactly lol
I suggest looking him up in the news. Not a great person
@@EricPetersonPhotography what did he do
@@EricPetersonPhotography If you're referring to charges filed for SA. How about YOU look into it deeper. Charges were dropped as it seemed like the woman was lying about the incident.
@@EricPetersonPhotographymoron, believe everything
I don’t understand why it’s so bad and hard for employers to treat employees as a fellow human instead of thinking they are just replaceable. This man understands loyalty
Greed, it ruins nations.
This man understands the value of not dehumanizing employees into numbers and quota's. I do hope he becomes successful enough to give himself a significant raise.
It all goes back to "Dodge v. Ford Motor Co." it has been all down hill since then.
greed…
Key word loyalty
That’s the difference between today and back then companies and employees had more loyalty
Back then there was a incentive to work at a company many years, you would get the promotions and raises and your job was secured. Now employers will cut good employees to keep seeking more talent.
It's almost like paying your employees a livable wage makes them wanna work, and increase productivity.
strange indeed
Makes them more competitive to keep that and if they can't? Well, there's more people lining up for the job because of the wages.
His imployees arent making fast food sandwiches lmao
Almost indeed.
It worked great for his company, but it shouldnt be done everywhere
I like how people are triggered he’s paying his employees well
Of course they're triggered, conservatism is nothing more than cuckoldry to the elite class. So when someone comes along and shows that not being a rapacious villain can actually be a good model for success, that's essentially an afront to their worldview. You should have seen the ill will the ghouls at Fox News had for this guy's company.
Did you catch that too 😂😂😂🤣😅
@@deoxyribomorph99 what?
@@deoxyribomorph99 seriously, bet the cognitive dissonance becomes too much for them.
Lol they're all Gravy Seals and Meal Team 6 mf's. It's so sad because these guys take woodshops class in high school and then turn out to go full on MAGA by the time they're out.
I don’t see why a CEO needs to make more than 500k. Many of them are making $30 million a year and there is no 70k minimum.
Exactly, its not like CEOs are better than others, or its so difficult and time taking to be a CEO, so why should a CEO be paid more than a million
Because... the can.
I mean, i get your point, but that's what happens when you have an opportunity to earn enourmous money.
I mean, it's understandable if he has a huge family, kids, their education, maybe helps out his elders and so on, but usually it's just because people are greedy.
"Why should i put money in pockets of my employes if i can put them all in my own?"
The CEO took the risks and deserve to reep the rewards, the employees didn't had to put in a lot of money and time to start the business, its a lot of work to start one, that's why many don't and the ones who do and not put everything in place ends up failing. If ppl want fairness, then the employees should risk bankruptcy if the company fails as well, the only one burden with that risk is the ceo/owner.
$30million is quite generous lmao. Delta CEO bonus was $25 million during Covid and he fired 20% of his employees. Guess his bonus was more important than those employees.
@@jonmcclain662 CEOs are hardly ever those who started the company. They're usually brought on board an already successful company specifically to maximize shareholder value. So, they in fact face very little risk, and there is no reason why they can't afford to treat their employees well, they simply choose not to because paying your employees well and giving them good benefits decreases quarterly earnings and slows share value growth, which means that their paycheck won't grow as quickly, and they obviously can't have that (/s). Ultimately, it boils down to shortsighted greed.
„My employees did way more for me than I could ever do for them“ is true for any CEO, always.
What a cool guy.
Yes it's always true- except for this time. He definitely did way more for them than they could ever pay back in return. It's unprecedented.
I still can't believe people are mad at this guy for wanting his employees to have a decent life. He is probably one of the best CEO's out there.
@Zombie look at walmart one of the bigest super market chains in the world what has all that companys growth done for its employees? absolutely nothing they still get payed minimum wage the only people who benefit are the 00.001% at the top. thats not healthy for the economy
@@sillyseattlecatOther corporations hated it because it made them look bad and it skewed the “environmental” pay scale. When I worked, it became clear that all the local corporate managers had an unwritten agreement that one would not pay their employees much more than the others. That way, it tends to keep employees from jumping ship for better better pay elsewhere.
That's what struck me the most from this story. I don't get the backlash he received for having a minimum pay to his employees. As per the report CEOs make 320 times more than their workers so there is no reason not to do this. They're just mad because he is showing them it is possible and that makes them look bad. Shame on them for even saying in advance that his company will fail. I am so happy it didn't.
All of them were heartless greedy republicans
Great story and it was telling to hear Rush and the other establishment losers hope for his failure. What did Rush contribute to the world? Absolutely Nothing!
The employees took a pay cut so the company could stay open, and then the company payed them back once it had bounced back. That’s fierce loyalty and trust on both ends!
So it is not possible. The loonyliberal theory is that you can pay workers a lot through the good times and bad. But you can't. You can only give bonuses during good and take them away during bad. Which what all other companies do.
@@haylobos8261 "It is not possible" ...His business is still thriving. You're literally watching that it is in fact possible, while whining about how it isn't possible.
It's 100% possible, but companies are kinda forcing the issue because they don't want anything less than 500% profit and it's hurting the country as a whole.
GDP means nothing if half the country that isn't in jail is struggling while ~20-25% of the total population is in jail.
This asinine ability Conservatives have to worship the almighty companies and the almighty dollar while claiming to follow God will never cease to absolutely baffle me.
@@haylobos8261 there are a couple countries on Europe that prove you wrong
@@haylobos8261 how did you watch all this and then say it wasn’t possible after he literally proved that it is. If that isn’t ignorance idk what is.
@@tinymushroombigforest9745 You got no brane? They had to take a 40 percent pay cut. High wages for ordinary workers is not possible. He gives high wages when the economy is booming. Then lowers them when there is a recession. Which is what every company does. Get out of here with your liberal baloney.
This CEO guy took 1mil USD pay cut to increase his employee's compensation to 70k min,the employees took a temporary pay cut during the pandemic,got repaid the difference and actually resulted in a much lower turnover rate and more productivity for the company. This story is crazy good. 😮😮😮
😮!
And then he got ousted as CEO after allegations of assault and r@pe. Not such a crazy good story anymore huh?
A true legend among CEO's. 99% hoard millions of dollars, sometimes billions, at society s expense. This man deserves every bit of praise he gets.
Having employees be so loyal that they take a 60% pay cut when your company is going through hardship speaks for itself. Him paying them back as a thank you for sticking by him is virtually unheard of in America. This man is a god send.
No doubt, definitely a Godsend!
One in a million...or trillion...? A blessing to the employess for having a leader like him😘
@@JMK948 he looks like him
Facts
the only reason they usually will support the company is because they depend on their job for money
Wanting this company to fail shows how evil the corporate mentality and it's media allies are. Paying people a living wage works.
Paying people what they are worth ? This is the united states. How dare him do a good deed.
@@claudius_drusus_ L o L not in the united states. Slackers usually make more than the workhorses
@@claudius_drusus_ If you turn 10 dollars of product into something that can be sold for 100 dollars, you are worth 90 dollars to the company.
If the company pays you what you're worth, they will make 0 dollars in profit, and will never be able to expand or do more. To pay someone what they are worth is fundamentally incompatible with capitalism.
@@kinoweiss702 this man just proved ur theory wrong. He paid his employees their worst and yes in the beginning of this new change he took a hit. But it worked out and the company tripled in profits. And because he did right by them, they did right by him and took a temp pay cut during the pandemic.
When companies pay their employees their worth, the company thrives, because they have just as much to gain from their employer's success. Makin a $10 product into $100 product and then only gettin paid $5 to live off of, doesn't make for loyal or productive employees.
@@CarolynLewis-2lov3ly Just listen to yourself for a second. That just means his employees are worth more than 70k otherwise the company would never be able to expand and triple in profits. It's just basic math. You don't create extra value from 0. He is not paying them what they are really worth but that's okay, he is paying them enough money to be in that grey line of moral capitalism.
Bro literally reinvented loyalty
I think one of the most heart breaking moment in this video is “what allowed you to have this family?” “We could afford it.”
Like imagine how much different so many lives could be with this philosophy of CEO’s not being driven purely by greed.
The fact that THAT is a factor is a shame
Im surprised people in the West think individualism is the cause behind people having less children, and not that having a child is way too expensive
@@CL-fg5ne There are different reasons people might not wanna have kids or at least only have a limited number, and the expense is definitely one of them.
@@CL-fg5neIndividualism has never been a factor for a majority.
Lets not forget the general public wants to support companies who treat their employees well.
I always feel better when I go patronize a business where the employees want to be there. I realize that the point isn't how I *feel* about the business but it really doesn't make a difference to the whole business experience.
Htf does a toilet janitor get 70k a year???
@@posh7079 you forget that janitor is still a person who has value, i can't believe you didn't learn that during the pandemic.
My jaw dropped that the company is 4 months close to bankruptcy, but if it wasn't for the employees love for this company and maybe because they are thriving in life earlier because of that highly generous pay increase, volunteering for months of pay cut!!!
They wouldn't survived by now!!!
The CEO then saved his employees by raising their pay, and produced a loyal employees back then.
Now his employees saved his company back by then volunteering to not get paid for a bit.
That's just close and tight corporate family love right there.
Exactly! Great point!!! A great guy to work for and a great guy to do business with I’m sure. Awesome all the way around love it
Biggest part of this is how loyal his employees are. Crazy how people naturally repay the kindness you show them
You give and you shall receive
Exactly! This a very beautiful story!
@@boykidmanboykidman5420 Amen
Not true at all.
Usually people take advantage of your kindness.
Im glad it worked out for him tho
@@lindisopaj clearly not, loo
OMG ! This made me cry. Dan Price knows about real love and true equality. Here is a man who is not motivated by fear. Deep bow, Mr. Price.
This man has balls of steel. Really happy it turned out okay despite the massive risks
What massive risk? All he did was take profit money out of his own pocket, and disburse it where it belongs - among his employees. There was no risk. This money wasn’t taken away from anyone else. What’s more bizarre is hyper capitalists calling him a lunatic or a socialist. All he did was do the right thing. Who cares about your portfolio when the rest of us are starving?
The trick is that the CEO earns 70k too but he also earnes HUGE respect and LOYALTY.
Not really
@fosterpainter This is why capitalism is failing. Capitalism replaced mercantilism. The main thing in Capitalism is that companies have no responsibility to the system that they leach off of; no other purpose than to generate profits.
Yes, lead by example
And profits, which is awesome!
That and I'm sure he has other income sources.
Imagine paying workers a livable wage and treating them like human beings that are actually integral to your company's success? What a crazy concept.
Sad, right? This should be the standard. 🤦🏾♀️
Madness!
Far right Republicans can’t believe it
I could. But i dont have money.
This person is delusional. Some one take him to the infirmary.
He is such an EXAMPLE CEO! What an amazing guy!
Resigned and facing criminal charges for rape...
@@OutsiderLabsoof
Horrible man that portrayed being a good ceo - not that they exist anyways
@@OutsiderLabsI just read where all of those charges were dropped at of 2023 . Funny how we have an ex president on 91 counts never did nothing for no one but himself born into wealth and privilege and still trying to become president I’ll take this guy any day
@@robinalecia7554 Exactly! Rather him be my boss than Trump.
This is the only company where it’s OK to be like a family😂❤️
the fact that he KNOWS how many of his employees are buying houses and having kids. THAT is what leadership looks like.
Excellent definition of leadership, Block.
Leadership has absolutely nothing to do with intrusion on peoples personal lives.
@@smolpener7430 Thank you for providing an example of what Leadership is not. We should all be so fortunate to avoid the mistakes you've made.
@@smolpener7430 So you think that he secretly taped every birth that took place and kept a tally in a little black booklet? I'm sure the employees voluntarily gave him that info. You sound like a complete nut job, and its never too late to delete your braindead comment by the way!
@@smolpener7430 Go to sleep bro
This is what you call a REAL man.
Yea he beat his wife, abused women and is facing rape charges. That aint no man.
A real mane
@@timg2973 found not guilty, people like you judging from the sidelines are the ones bringing society down
@@timg2973 Nah, I checked real quick and it's a false accusation, the court even dismissed it. So... you are wrong but congrats to you, because you and your capitalist community finally got him to quit to fight all the allegations. I guess capitalists really doesn't like successful "socialist" huh, shocker
@@timg2973 Don’t spread false information. All those charges were dropped.
Dan Price is truly someone to look up to. He cares more about his employees than himself. He's a fine example of someone who should be respected. Not scorned.
A company with appreciated workers and a humble ceo should never fail
A man stands at his tallest when he bends down to help someone smaller than him.
they were never smaller then him.
@@Saveg36 we know he or she didn't mean it in a condescending way
no man stands taller than when he bends to help a child
@@whynot2734 his employees already had money, he should have just sent the money to a charity instead of his employees
@@Saveg36 You’re not wrong, but the quote is assuming something that many people in society tend to think; that people of increased wealth are bigger than those with less wealth. This assumption comes from the fact that they can afford more things, and sometimes it even goes as far as assuming that the person with higher wealth has a more difficult job requiring more education. To some degree, they aren’t wrong, but if we’re thinking in a more realistic and philosophical way (like you are), you’re right, a person’s wealth shouldn’t and does not dictate a person’s value and place on Earth because we all die at the end of the day, right? 😂
Bottom line, you’re right, but the quote is addressing something many in society believe is true.
This man does something completely selfless and all those people wanting him to fail? But loving the selfish billionaires who give far less and care less
This!!!
Makes no sense
People love to worship something bigger. It’s the effect of liking something you can’t have, and viewing kindness as weakness. It’s human behavior. Some people are just so inferior.
they DO NOT care about the people
@@AdrianTheSlay3r1 you say that it is human behavior but then say that some people are inferior? Your ego is showing there!
Its not just about the business and pay. Its about creating a community and thats what most corporations today are lacking. What an inspirational story
This is such a heartwarming decision. With this kind of man, there is still hope for humanity. I pray your company continues to thrive.
This man created a family not a company. He made sure everyone is taken care of. Amazing
It’s a beautiful thing. Right in the face of widespread corporate greed.
Wrong! He emphasizes that the company is not a family, and that it is simply a company and you owe it nothing. everyone deserves time off for their real family. he makes a big distinction there.
@@habibbialikafe339 shut up
@@bethanyschlientz7982 no u
I'm glad I wasn't the only one to notice this.
This man is richer in life than most humans with the things money doesn’t buy.
Great leadership, humility, humanity, honor, love, community.
Although he makes 70k he owns the company so his net worth is higher. Just saying but this guy seems like a pretty cool CEO.
@@noahremnek3615 Can you tell me what is net worth of being loved and respected as much as he is?
@@zpetar Idk his net worth exactly but it probably decently big.
Long hair...
A true king
Hero. And yes he pays himself a $70,000 salary- but he’s also getting dividends tax-free. And a happy, productive workforce? Genius.
70k is a lot for me! I wouldn’t be greedy.
the tech/gaming industry needs to take notes ASAP in 2024. so many layoffs could've been avoided if CEOs swallowed their pride and provided for their employees
Imagine a company giving their employees enough money to live a life they want. His employees are working out of gratitude and absolute wanting to. He is not socialist, he's human.
Nobody works out of gratitude. They all need money to live. But it was nice of him.
Humanist
"Seattle tech company pays Seattle tech wages"
@@robertmccully2792 yes you do work. %100.
LOUDER!!!
It’s almost like treating your employees like human beings with the dignity and respect they deserve has benefits.
Who could've guessed
It surely does, no doubt about it
Imagine that
Wait you might be on to something 🤔
No, this is ABOVE AND BEYOND giving "dignity and respect." Much more. This spirit of his is, well, GOD-Like. #sacrifice
Imagine paying your employees well. What a concept.
People hate this because it shows that a company CAN be run well without greedy CEOs.
He humbled himself and put himself in his employees shoes. This is an example of a good human being. God bless this man.
He has.
Oegcbb.
i hope he sets a trend and other companies see the benefits of paying their employees more not just for them but for business in general
He's a complete and total fraud. He purposefully manipulated thousands of client contracts to not only gain an unfair competitive advantage but also swindle millions for personal gain. His brother and his father own a separate company called Axia Payments where they banked millions then got handed a huge lawsuit because Dan Price sold trade secrets and business information for 1,100 clients to launch his own processing business. He has a very dark past and he's lying about only making 70k a year. You can find dozens of articles written by investigative journalists exposing him.
@@intihumala9087 cant believe everything you read, I worked for a processing business in NYC. If any of the articles were 100% true he'd be sitting in jail, those supposed claims against him are federal offenses and money laundering.
Crazy what employees are willing to do when they're treated fairly and giving a chance to succeed in their workplace. This man is doing God's work.
He will continue to thrive
You can tell these employees will never quit. They all seem so happy.
Yep the other business owners who don't like him just mad he exposed them for being greedy world is pure evil
Get back to work lol
Some employees think that they're not treated fairly enough when they actually are
It’s crazy that a company paying their employees enough that they can have a baby is a rarity.
Thanks algorithm, reviving a video that is 3 years old. Since this video aired... This happened (Seattle Times) ..."Price resigned as CEO from Gravity in August following accusations of assault and rape that have resulted in two police investigations."
Imagine that, being paid enough to live comfortably leads to BETTER EMPLOYEE RETENTION
Exactly!!!!! 💯
No way
I’ve been making scraps and I keep hopping jobs that also pay scraps
I wonder if I would stay at a company that didn’t pay scraps
@C K that's base salary. His main net worth is in the equity of his company.
@C K obviously he can, but a gift is a gift
💯
the fact the employees bought him that car means that they are loyal and grateful. no one else would do that for their CEO. i hope this company thrives
I don’t know why. He was already a millionaire
@@louissanderson719 because he cares about his employees and doesn’t seem them as discardable trash?
@@louissanderson719 maybe cause they wanna thank him for changing their lives, yeah didn’t have to do it, but did it anyways just like how he raised their yearly salary, and his company is still thriving cause of his employees.
@@louissanderson719 money doesn’t matter if people don’t think to give you gifts no one likes you.
@@louissanderson719 i think he got less and less of a millionaire over the 6 years he wasn’t paid millionaire money if you know what I’m saying?
Take care of your employees, and they will take care of your business!
This is something you never see. Someone with integrity and morals still alive in flesh.
I hope this man and his company thrives for many years. He is a blessing to his employees.
He has a superiority complex. he has accusation of harassment and rape, with police investigations. The company is also financially unstable and has been since the day he announced this 6 years ago
@@bryan-cv2ewthey were bound to come for him.
@@bryan-cv2ewThe allegations were dismissed
Partially true. The company is doing well. He did get charged but he beat the charges. None the less, he still stepped down as CEO so he wouldnt hurt his company or workers. @@bryan-cv2ew
sure sure soruce trust me bro@@bryan-cv2ew
Man’s not a socialist, he’s 100% capitalist. But his business model is good: Pay a competitive wage and keep worker’s happy. Good on him.
Socialism is involuntary. This was voluntary.
And the US has the nerve to be upset about birth rates being down. Pay a wage where people can afford children and a home and that problem will be fixed! This guy is great! Definitely been led by God.
@@chinaarlene7035 do you also support closed borders to keep home prices down?
@@intensifier2182 I support closed borders for a plethora of reasons.
@@chinaarlene7035 do you support getting rid of city code enforcement so housing can be built more inexpensively?
That is a man that has better values than corporate greed.
The CEO is a good hearted person
This ceo actually cares about his employees not just money. Blessings to this man.
Exactly friend Gd heart
Double your return in six months!
He is an incredible human being
I wonder how many of his employees would fallow this boss and open a company and pay that well to their workers,or maybe they are too selfish to do that.
I agree.
The fact that employees were willing to take a voluntary pay cut to help the business AND THE BUSINESS PAID THEM BACK...wow. AND they all chipped in to buy him his dream car...talk about a work family. Amazing...kindness and compassion goes a long way.
If you say 70K, it should stay 70K. Not 70K when the economy is booming. Everybody already does that. They pay more when the economy is booming and then reduce it in bad times. He is just a charlatan. You people are silly.
@@haylobos8261 the employees CHOSE the pay cut. He didn’t take the money off them. They OFFERED. Did you even watch the video??
@@DebbieAkano they probably watched the whole video but did not register that one because they only want the negatives on all the positives that happened in this company.
@@haylobos8261 No they’re not silly, you should go look in the mirror and tell us where that brain of yours have gotten you! Why did you think it was necessary to inject your dystopian, draconian, fried up frizzle mentality, and all your negativity into this conversation? So maybe the silly one is reflective of you! So let me ask you this question, do you wear a mask?
@@haylobos8261 you're just mad your employer doesnt pay you like a living breathing human being that needs to stay alive
That's beautiful. What a great guy. Your employees are people and when you treat them well they go above and beyond.
Finally thank you sir. I'd love to work for someone who thinks as far forward as you
He is a man with a golden heart. He cares about humanity. Kudos
There's a difference between being charitable and financially thriving. Obviously allocating your own paycheck to your employees will work as long as you deduct your own salary. That's not a success, it's charity. Good for him, but how can you expect CEO's to incentivize their ambitions and innovations with a meager paycheck that does not expand? Isn't the point of a business to be profitable to the individual to some extent? The man is running some payment company, nothing large-scale. You can't motivate high ranking employees with this business model, clearly Dan Price is the sole captain of this ship, and I'm sure it's a feelgood story but it's certainly not viable. Nonetheless, the poor will be tempted to elicit this example as a call for equitable pay in line with socialist doctrine.
Well he figured out a way to get rich on the side through speeches and interviews. He also grabbed a ton of wealth before he did this move.
@@Leoo117 You're saying people shouldn't build business for accruing money but for securing happiness?? Such an egregious projection. Not everyone has such 'virtuous' hearts. I'm sure you'll build and manage your own business, expand it, all for one static price tag. Meanwhile, expendable employees will cash out of your hardwork. You clearly have no clue about management and leadership because you're just a poor sod.
@@maaz322 Your missing the connection here. Yes, you build a business to accrue money, but it is more efficient to accrue the money if your employees are happier. THAT is the connection here. Don't take my word for it. Take the word of the guy who already did it. He was humble instead of haughty. Also, there is no need for calling names and being disrespectful. I wouldn't do that to you, so please don't do that to me.
His company is a software credit card merchant services company. It has no physical product. Doesn't need expensive business insurances coverages. Just basic ones.
His company charges 1 to 3% of credit card purchases and monthly fees.
On $100,000 running charges can make north of $3,000 month.
Looking over is books they have $3.4 billion in purchases with over 15,000 companies.
So they making $100 million year gross income.
They have around 200 employees. So about $14 million goes into payroll.
Yes, only 14 out of 109 million a month. Around 14%. This guy is a hero, lol what a good samaritan LMAO. You know he gets the money on the back end. Any smart CEO would pay themselves as little as possible.
Jeff Bezos salary was $81,840.
This is the only company you can call "family" without being fake. Other companies have this family culture BS but it's for you to stay in the company while they pay you peanuts.
a lot of them have family culture but only between low earning workers...
True
Maybe the other companies are family too, it's just terrible abusive ones.
@@gateauxq4604 i wouldn't call those families then
Peanuts xD
This is a great example of leadership.. The CEO sacrificed for this employees and the returned it with gratitude and loyalty..
I wish there were more people like this, all loyal to eachother.
It’s crazy how some were against this move. If this CEO wants to give a good wage to his employees, let him. The critics are probably the ones who love seeing homeless people on the streets and then blaming the government for it.
Other businesses were critical and against it because of it worked (it did) there would be a real precedent for paying employees more and CEO’s less.
The problem was this guy wanted other businesses to be FORCED to follow his business model.
@@michael7264 I mean 70k a year in Seattle should be very little to ask for considering the standard of living. 35k is completely unreasonable
It's 100% ok if it's on a voluntary basis, when it becomes a problem is when people want the government to mandate this business plan
EXACTLY!!!
We need more CEOs like him. The fact that politicians and capitalists trashed him is so disappointing. They're so greedy and out of touch.
As a capitalist I can’t agree more 😂
Unfortunately he's a serial woman abuser/assaulter. Why does this always happen with the nicest-seeming guys? :(
You should stretch before you reach
@@browncatwithblurredbackgro2461 shut up bro
@@browncatwithblurredbackgro2461 how many older people do you think can genuinely preform at a job that I assume is 99% computer and over the phone work. Has nothing to do with whom he hires and everything to do with the fact that the older generation isn’t as good with technology by large.
What? A CEO being human and solidary? Nah, it's fake
I hope he has an amazing life
Life is about the friends you make along the way and this guy gets it.
A leader who gains loyalty through respect rather than necessity.
I don't understand why anyone would be upset with a CEO give his employees a livable wage. Both my husband and I work full time and we are still living paycheck to paycheck. Wish this was the norm for more companies
Because they are greedy and wicked.
Same!!
@@ultraplusmusic6101 ???????????????????????
It's complicated, right? Capitalism allows companies to find the cheapest labor possible, if they so choose, in order to maximize profits. For a janitor at a local gas station, this might be $8/hr. Whereas a manager at a local restaurant might make $40k/yr. Either way, it's bare minimum based off the market and what people will accept. This guy, however, comes in and says $70k/yr minimum, regardless of market. This is simply an entirely different philosophy then everyone else operates off of. His philosophy requires thoughtfulness and sacrifice and is based off a concrete ideology: that people should make a living wage (of course, what a "living wage" is can be debated).
At the end of the day, if the result of all this is that people stop accepting such low salaries and businesses have to start paying their employees more money, I don't think it will be that big of a deal. But as of today, companies are pushing back mostly because they know a large percentage of people are willing to accept much less than 70k. Therefore, raising salaries above what's necessary to hire the employee is foolish (in their minds).
how ? …
Probably the best example of how a CEO takes care of his people, and they in return give him fierce loyalty. It’s about the relationships at the end of the day
Thought the same thing. This is amazing Wow 😍
Probably the only example as well.
@@AddBowIfGirl socialism can work in a very small scale, but when u talk about millions that is a complete diferent beast, there is no control over what everyone is doing, u will have alot of people just sitting around doing nothing waiting for the pay check, and that will create a domino effect that will colapse ur system, socialism is based in the naive premise that everyone is an angel and will do what he is suppose to do for the good of everyone else, and that... is just stupid.
"Its alot" what?
@@namamora1190 strange though how those socialist policies are actually working in most industrialized countries... basically the whole of Europe (about twice the population of the USA) is made up of social democracies.
This is what an actual work family is. Shady business owners have ruined that term for years but this guy got it down pat.
He only takes $70,000 home and he never even mentioned that his company was “family”.
He found happiness, meaning, purpose, legacy, respect, appreciation, support, trust, loyalty, growth and love. Not to mention success. Other CEOs made nothing more than money. The mere fact that he was attacked for having a good heart just shows you how corrupt the corporate culture is.
He not only found it, but he’s spreading it. He’s truly blessed.
Nicely said.
So true!! He has what really matters, and has made people's lives better as well
Exactly!
Well said he needs to start his own MBA programs too…put them all to shame. God Bless this man
“I feel bad for people with lots of money, because that’s all they have” -RJ Spina
This guy is awesomely the opposite of most CEOs
You must not know what money is for😂 go vote biden again loser lolol
Amen.
Instant Hero.
Paying back the short they took during the pandemic after business returned to optimum is fuking stellar.
This guy knows that happy employees will be loyal and give back as much if not more than he could give them.
Alternate title: Man who overpays his employees only become successful after 6 years
@@LOKSTED most businesses completely fail or go bankrupt within 2-5 years. Your point?
Dude is the ultimate capitalist
He made a great call, and majorly helped his business
This guy is a hero. He didn't let Greed control him like 99% of most CEO's!
But we will not be satisfied, than they will want a raise later down the road. How much can you pay them?
Lets raise that number to 100% and just say he's the one CEO ever to not let freed control him.
@@samuelsanchez2010 did you watch the video? When there was a downturn during Covid19 the employees voluntarily took pay cuts. Now that's loyalty.
You get what you pay for. This company pays for happy, motivated, loyal workers. And generous, they chipped in to buy the boss a fancy car!
Similar story: an ice cream shop started offering I think it was $15 an hour. Now they have plenty of staff, unlike all the places you see who can't get anyone to work for them. And the owner pointed out how the staff are happy and cheerful because they didn't have to work 3 jobs to survive and the business was doing great because people wanted to go there for the excellent service.
He is ABSOLUTELY AMAZING! HE HAS BLESSED so many people, even taking a pay cut from his own self! Greed is not in his moral compass & I pray his business goes on to be so successful especially during this darn pandemic for many many many year's to come!!! We need more businesses & CEO's/CFO's like this! The world would be such a beautiful place if we can do things like this! Coming together by putting other's above yourself! Absolutely love it..You good sir, are a rock☆star! Sending you love & praise from Cali!
99.9
Not only has he made his employees loyal he's made customers want to do business with the company because of the humanity he's displayed, well done mate.
We talkin about twitter right?
We should question why we do business with Amazon & Walmart....???
Good example of honest and loyal business right there
Do you actually think he does a single thing for his employees? He did this as a ruse, to glamourfy himself. and he has many common people tricked. however most pros see him as another youtuber
@@greenwave819 well according to the story he's done more for people than you probably ever will with that attitude.
1:46 lmao the company outlived Limbaugh, poetic justice.❤😂🎉
Bro is so humble
He should be teaching in every MBA program across the country. His humanity yields what money cannot not buy; community. America could use a reboot in this humility.
Amen to that
thats why i left permanently and came to Africa
Not everyone should get a 70000 dollar paycheck 🙂
@@mr.horrorchild4094 Not every person would want it. Employees whose values align with this company are the ones who want to work there and are earning their pay. People who don't work hard, aren't team players, or are self-serving either left or didn't get hired. I see no problem using a pay scale to weed out unwanted employees.
So that every future business owner can bankrupt their company within days? nice!
An absolutely BEAUTIFUL display of human kindness! Bless Dan and the employees at the Gravity!
Just to make sure you know. Software Engineers can make over $100K elsewhere.
If you are a superstar software engineer. Would you settle for $70,000? If others don't have your skills or work ethic they get paid the same you wouldn't feel okay with it. They leave you to work more hours and all of you get paid the same. Even entry-level assistants.
Also, the guy is loaded. He makes money off his company in form of dividends. Saves a ton in taxes. I guess he doesn't believe in paying as much in taxes.
@@alpharenz1329 Yes we are aware, we're a dance education tech company
@@alpharenz1329 You miss the point. $70k per year is the MINIMUM. The vast majority of his employees are not software engineers and nobody is under any delusion that Price will not eventually benefit from his company value appreciation, which is considerable considering his success, but since his company is private I'm not quite sure I understand your "dividends" comment. How is he making "dividends" on his company? It looks like he's putting the profits back into the company and its employees.
@@5350nbrookmist as a private company you can hand out disbursements/cash dividends. You can look it up, ask Google to help you. It is a way to avoid higher tax brackets. Not faulting the guy. Just point out what should be obvious. Most CEO elect to get lower salaries.
This is brave in the U.S. but it is the bare minimum.
Work for a company, instead of fighting in it. Amazing. Wish for a world with more of this.
This guy is amazing & boy do we desperately need more CEOs like this. Everything is now about greed & the public knows this.
Dude, this guy is responsible for some new entire people coming into existence with his generosity. That's incredible.
#godfather
Priceless ...
@@stunna313 😂😂❤️
@@blakejohnson3864 what
@@boa9557 Don't worry, it's just Thanos learning to write on UA-cam comment sections.
Man if my company did this… “fiercely loyal” would be an understatement.
Companies get what they give
I’ll be fighting just to get to work
period
@@jio06 literally
No fool. Companies get what the market pays them
So true
i love how other companies hoped for his company to fail but it excelled. CEO'S like him inspire me.
What a wonderful human being everyone should be humble like him❤
It doesn’t take a lot to be a genuine human being, Dan deserves everything the world has given him! There’s not many people like him left
No, but plenty in the making.
@@bugmanuk I saw a segment on DW (Deutsche Welle) about this being an entire movement that is getting started in Germany and elsewhere. There are cooperative models of business that are taking form, and a few that are already here in the US. I had seen coverage of a few co-op businesses here in the IS. All employees owning an equal share, everyone making enough to live comfortably. There are so many options and as you say, people being made that understand this is the way to go.
we can all strive to be genuine human beings and then there will be plenty
His business is making BILLIONS off of LEECHING off OUR money...he is a money predator, not a hero.
@@thomasjones4570 Can you explain?
70k is the magic number. His employees can cover their expenses without worries, which will lead to higher productivity.
and the likelihood of people leaving his company for better pay elsewhere is significantly reduced and he can retain very good employees who will be loyal to him
And also help the economy. Imagine if all CEOs would run their businesses with their brains and not their greed.
@Kevin Tati sadly we already are. Very true just increasing wages isn't enough.
@Kevin Tati Lol, it's Seattle. It's not economic policy, just Amazon
@@Concretetime it’s because of minimum wage raising, if minimum wage goes up so do taxes, and so does just about everything else (inflation). Sadly, almost everybody in the world is greedy. Occasionally you come by a company like gravity that actually cares about employees, but that’s a one in a million case..
Every company should do what this company does. They should also charge as little as possible for their product at the market (instead of charging as most as possible).
What an amazing human being!!! He is the opposite of greed. He cared and gave and, in return, got back 10 folds. He is such a smart, caring, upstanding young man. Kudos to you. I wish all bosses were this generous.
It’s so obvious that the people calling him “socialist” and “crazy” solely care about money, not the lives of those working under them. They could care less if their employees can barely make ends meet, as long as they’re making a ton of money that’s all that matters. THIS is the type of business man we should admire, the one that puts his employees before money. Love this guy
He is selling his homes, getting the same amount of the employees and emptying his savings. He is not thriving, he is barely surviving and soon when there will be nothing else to sell or money left to cover the bills the company will close and all those employees will move on and look for a new job while he will be left alone to pay the bill of his bankruptcy for a lifetime. The only thing they will say is "We are so sorry". They will also not care if he makes the ends meet. This is life.
@@allwhatilove914 is that why his employees volunteered to take a pay cut during the pandemic and still all have their jobs AND got paid what they lost from takin the cut? You assume hes not doing well because hes not rich like he was before, even though their company is doing well? Most of his employees wouldn't have been able to start families and would be looking for a second job if they still got paid what they originally did. And no one is saying all CEO's have to make the same as the employees, just that if workers were actually paid better then people would ultimately spend more energy on the company and spend more money on themselves which helps the economy overall.
@@allwhatilove914 Yes, but that doesn't mean he cannot survive. You can comfortably live off of 70k in America easily. He is now tripled his profit, and double his task force. They are more well-trained and experienced, more familiar with the company's structure and customer base. Less resource is wasted training new staffs.
During pandemic, the company got hit hard. It coulda go bankrupted. But employees all willing to take a temporarily paid-cut. Once company bounced back, Gravity, willingly, paid them back in full. Millionaire Stephen Prince said it himself, the rich can easily take a cut from their own wage to give all their employees a paycheck that help them to thrive, and it wouldn't change their lifestyles. But they won't, cuz they greed.
He's doing all of this voluntarily. Nothing socialist about that. Socialism is when someone puts a gun to your head and forces you to pay taxes to give them to someone else (or waste on some gov't project).
@@johnp7739 you don’t know what the word “socialism” means😂🤦🏻♀️🤦🏻♀️🤦🏻♀️
He BLESSED his employees they blessed him back and his company is still thriving! What a model lesson.
No he more evenly distributed company profits among the employees. Why do you have to use a religion adjacent word ?
@@infinitemonkey917 because that’s how people like that make sense of their reality
@@infinitemonkey917 because people like him/her are completely brainwashed.
Exactly! But the greedy executives don't believe this. Some people love watching people squirm and live paycheck to paycheck. They basically live off the backs of the workers...This is a beautiful story because he actually cares about the employees....But you know the psychopathic narcissis won't understand this selfless move...
*That dude got soo much money now he is banging his asian wife for babies*
Too bad more CEO's aren't like this man.
I’m glad there’s an update. Caring more about employees rather than being mega-rich, catering to shareholders.
More businesses need to do this, I’m sorry, should WANT to do this.
Well said.
You do realize he succeeded because of the pr right? No one ever heard about his company but when he announced the equal pay. Everyone knew, everyone started doing business with them, increasing revenue and helping the 70k paycheck.
If you read more on it, they were other problems he faced. Some of his long term employees left. His brother who confounded the company, sued him.
It also matters on the occupation. Would you a phd student, who spent $200k on education, years of studying want to be paid the same amount as a bachelors student? No of course not.
I am not trashing him, he did good, but this doesn’t apply to all businesses.
No if this happens on another small company, it’s not gonna be the same.
@@andriod8014 You’re ignoring the fact that he forfeited his million dollar salary, and that karma attracted other like minded clients to his business. That karma also fostered the kind of loyalty that prompted employees to voluntarily cut their pay to keep the company afloat when their client roster shrunk during the pandemic. All of his employees are thriving. And not everyone with a ph.d. gets a starting salary of 70k.
But what about the new employees he could have potentially hired, instead of helping the lucky few. Especially when considering when we first read about this guy i think we all knew he would be ok, he would be praised by many of the people who surrounded him, so its not like it was a bad business decision. The problem with making the US like Europe where it seems to be like a socialist utopia is that they just aren't as big as us, and diverse of lifestyle as us
@@andriod8014 the fact is that they succeeded, and in business as in life, there will be casualitirs of war. That 'war' being an inability to achieve a successful meeting of the minds.
De Niro said famously in a movie I don't recall its name, " everyone wants the baby, but no one wants to go through childbirth."
To the employees who 'invested' in the company, their sacrifice is deserving of their reward.
The fact that this man was attacked for daring to try is insane to me. As long as the company is profitable then it’s all ok. As ever failing to look closer.
That is because he is showing up every other ceo for what they are money hungry people with no soul.
Alternate title: Man who overpays his employees only become successful after 6 years
@@LOKSTED Meh "success" is subjective. Some are perfectly fine with making a decent living and not being kajillionaires. This is a very small town, communal way of thinking that creates an enduring sense of community. The corporate CEO mentality that came out of the 80s ruined commonsense business practices.
@@adamant5550 I suggest you read the Glassdoor review from his employees. This guy is just doing publicity stunt
@@LOKSTED I'll check it out. Perhaps some things are just to good to be true.
It's amazing what having a workforce that doesn't want to burn the headquarters to the ground does to the place
The Average CEO compensation is 320x more than their salary employees... and in most cases those employees are more qualified than the CEO
They took a voluntary pay cut when times were hard and when things returned to normal, the company actually paid them back for what they had lost? Amazing! Who would want to leave a company that cares for you this much?
What capitalism should be; businesses with excellent leadership have terrific flexibility
Sadly capitalism controls what americans hear see & know. This must be spread by the people for the people against the corporate interest.
@@whodis5774 this isn't capatilism what this boss is doing is giving his workers there actual value that he would usually take in the name of "excess profit" if you know you know
@@whodis5774 What is happening in this business is not capitalism. It is not cost effective as capitalism would desire. Instead this is socialism. The companies prides itself on the number of babies its workers have. That is a company focusing on the social aspect.
@@nickl5658 spot on
This has gotta be the best "I'll prove you wrong" moment, guy is so loyal to his company and so humble, may his company continue to grow
Amen he’s a good man
But it’s not. 70,000 is not a lot in fintech. It’s peanuts.
He wants you to believe that, that is what he is paying formerly minimum wage earners. You just bought into his marketing.
God bless this man! He actually cares about his employees and the hard work they perform. The truth is all companies could do this but greed rules.
I work in a huge corporate and despite earning more than these guys, I can tell you that our CEO is a complete shareholder puppet that I have ZERO connection with.
But this guy. This guy is a true LEADER. And it shows in how loyal their staff is and them buying him a dream car.
Other CEO's: How do I become richer than everyone.
Dan: How do I make everyone rich
Other CEO's: How do I become the richest alive?
Dan: How do I enrich peoples' lives?
I didn't know 70k a year was rich person salary? Where are you from, Mexico or West Virginia?
@@sammy080798 "ahhh look at me, I'm an edgy and grumpy kid who is trying to say bad things to ruin a good video ooohh"
@@sammy080798 70k a year is a crazy amount of money, its great.
that’s right