CEO raised company's minimum wage to $70,000, the number of babies born to staff grew 10-fold

[Swordsmyth]

Six years ago, Dan Price, the founder and CEO of credit-card processing company Gravity Payments. made waves when he announced that he was raising the firm's minimum salary to $70,000 for his 120 employees.

To accommodate the change, Price slashed his own $1 million salary.

In the following years, revenue soared, and staff had many more babies and bought more homes, Price told Insider.

The Seattle-based company's starting wages used to be roughly $35,000, Price said. But for the company to thrive, he felt he needed to make sure all employees were making enough to look after themselves.

This led him to double their salaries. The move inevitably drew skepticism. "The media in general said we would fail. Or even in some cases, rooted for us to fail," Price said.

But he believes he's proved them wrong: "It's been over six years and we've had really fantastic results. We've had a 10 times increase in the number of first-time homeowners every year and 70% of our employees were able to pay down debt," Price said. About a third of his staff reported they were debt-free.

"Our employees had a 10x boom in terms of the number of babies they were having. We went from having between 0-2 babies born per year among the entire team, to over 65 born or announced over the last six years," he added.

To show their appreciation of the minimum-salary change, staff bought him a Tesla.

The company has more than tripled its payment-processing volume for small businesses, according to Price. Revenue grew every year, up until the pandemic hit.

When the COVID crisis really began to bite, things looked less rosy. "2020 was the first year our revenue didn't grow in our 17-year history as a company, Price said. In fact, the company lost 50% of its revenue.

Still, "we were able to recover from that," Price said, adding that staff volunteered to take pay cuts to prevent mass layoffs and were later reimbursed.

More at: https://www.businessinsider.com/grav...revenue-2021-8

Ignore everything else they tell you.
This is why birth rates are dropping and one of many reasons they rob us beyond all sanity.

[GlennwaldSnowdenAssanged]

He could have built a labor camp with housing huts and a general store. Improved his profits by mandating that employees rent and purchase supplies from him.

[sparebulb]

To show their appreciation of the minimum-salary change, staff bought him a Tesla.

They should have bought him a smoke-belching diesel F-550 so he wouldn't get killed in an accident or a battery fire.

[Invisible Man]

This is why birth rates are dropping and one of many reasons they rob us beyond all sanity.

Birth rates are dropping because of this group of people that's having more babies?

[Matt4Liberty]

Sounds like the free market working. I'm sure the Marxists are very against this.

[Brian4Liberty]

Sounds like he found the key to motivated and optimistic employees. Don't treat them like widgets and try to squeeze them dry.

Optimism and a good job could account for some of the increase in births, but there is also an obvious factor that can’t be ignored. If his workforce at that time was exceptionally young, it is expected that births would increase over time.

[Brian4Liberty]

Sounds like the free market working. I'm sure the Marxists are very against this.

Sounds like good management working too.

Unfortunately, companies like this are bought or acquired everyday by larger competitors or investment bankers like Goldman Sachs and then stripped and dismantled.

[Swordsmyth]

Birth rates are dropping because of this group of people that's having more babies?

Because the rich and their managerial class have robbed the middle class and the average man and reduced them to poverty through inflation.

[dannno]

Birth rates are dropping because of this group of people that's having more babies?

No, they are dropping because everybody else is having half their income taxed. This guy basically just paid their taxes.

[Invisible Man]

No, they are dropping because everybody else is having half their income taxed. This guy basically just paid their taxes.

So then, what this guy did actually contributed nothing at all to any decrease in birth rates, but actually did the exact opposite?

[acptulsa]

So then, what this guy did actually contributed nothing at all to any decrease in birth rates, but actually did the exact opposite?

Why, yes. Isn't that what the title and the OP say?

They're just celebrating because they assume all or most of the firm's employees are white.

[oyarde]

I find it easier to just pay cash when purchasing something in person ( my preferred way to purchase) then I am not supporting credit card processing companies . LOL

[oyarde]

Not sure how anyone would be living off 35k in seattle in the first place

[Swordsmyth]

Why, yes. Isn't that what the title and the OP say?

They're just celebrating because they assume all or most of the firm's employees are white.

Will the real racist please stand up.
Nobody said a word about race until you did.

This issue affects all races.

[devil21]

Sounds like the free market working. I'm sure the Marxists are very against this.

Assuming the account is accurate, it's a blueprint for how to counter the biological conflict ongoing in the country, meaning importation of fertile foreigners. It's not a political conflict. It is a biological conflict.

Can't say it enough to white folks concerned about being demographically displaced....."Better Start F*ckin".

Can I coin the term "BSF" for meme purposes?

[Swordsmyth]

Assuming the account is accurate, it's a blueprint for how to counter the biological conflict ongoing in the country, meaning importation of fertile foreigners. It's not a political conflict. It is a biological conflict.

Can't say it enough to white folks concerned about being demographically displaced....."Better Start F*ckin".

Can I coin the term "BSF" for meme purposes?

That is exactly the globalist answer.
Rob people until they can't afford children and then import replacements who you subsidize because they are not liberty oriented.

The real natural answer is two fold.
1 stop the invasion that is used to distort the labor market
2 stop the rest of the theft

[devil21]

That is exactly the globalist answer.
Rob people until they can't afford children and then import replacements who you subsidize because they are not liberty oriented.

The real natural answer is two fold.
1 stop the invasion that is used to distort the labor market
2 stop the rest of the theft

Unfortunately, those are not realistic options at this point. The horse is already out of the barn and few are smart enough to even understand how they're being robbed, much less mobilize to stop it. Those are political based options, even "voting" based options. We know how much voting matters
It is a biological competition. Same as it always was throughout history. Conquests were not won or defeated by voting. They were won or defeated through various biological methods. That is the most natural answer.

[Swordsmyth]

Unfortunately, those are not realistic options at this point. The horse is already out of the barn and few are smart enough to even understand how they're being robbed, much less mobilize to stop it. Those are political based options, even "voting" based options. We know how much voting matters
It is a biological competition. Same as it always was throughout history. Conquests were not won or defeated by voting. They were won or defeated through various biological methods. That is the most natural answer.

Then violence is inevitable and will be justified.
Be careful what you wish for.
Playing with the powers of life will invoke the powers of death.

Some people will be very sorry they started this if that really ends up being the outcome.

[devil21]

Then violence is inevitable and will be justified.
Be careful what you wish for.

I wish for no such thing and have been advocating for the BSF method for a long time instead (especially compared to putting any faith in voting and politicians), while warning repeatedly that the population is intentionally being set up for another internal Civil War, just like how the first one was engineered. Never trust anyone who tells you that "you and that other guy should fight."