Remember this dude? Liberal praised him for raising all of his Company’s minimum salary to $70 a year. What an amazing guy, right? Perhaps..or maybe he has no idea how economics works. If everyone hits the jackpot, does anybody really win the lottery? Here’s what happened with all of that. (Hint: Exactly what conservatives warned him about)
VIA| Back in April we told you about Dan Price, CEO of Gravity Payments, who said he would pay every single one of his employees $70,000 annually.
Every single one, from the lowest skilled workers on up.
Now, as expected, Price has fallen on hard times financially, even having to rent out his own home.
Employees who work for Gravity are now leaving the company, “spurred in part by their view that it was unfair to double the pay of some new hires while the longest-serving staff members got small or no raises.”
This was always going to be the outcome.