Well done you. You're a hero

So punny it hurts! 😂😂😂😂 But don't stop;

But now gravity is catching up on him

Well what this guy is essentially doing is what the lie of trickle-down economics promised to workers. Trickle-down economics only makes sense with the assumption that a business will naturally operate for its best interest, like for example as you said a CEO investing money back into the company instead of taking a bigger paycheque. But the reality is a lot of CEO's, Board members and shareholders view a company as a means to syphon wealth away from a business and into their own pockets rather than that letting that wealth cycle through the economy. As an example I can think of is when the CEO of HP cut R&D funding when HP was in a huge slump at the time. It was a move to please shareholders and for the CEO to make the numbers look good for investors. But it came at a huge negative cost for the business past its next immediate quarter because a well-funded R&D makes or breaks a technology company, and the CEO got awarded a bonus for it despite the company performance still being lackluster. I guess In other words there isn't any real punishment for failure at the top like there is for people at the bottom.

@@MrIndiemusic101 very informative comment. thanks

Lol

If people actually read Adam Smith and other foundational economists which said human beings are absolutely rational, Etc, which they are absolutely not, they would know that these people absolutely did not favor the idea of economic vampirism. They considered anyone that didn't work and got an income by having property or other similar means such as banking as not capitalists but rather drains on the capitalist machine. Nowadays if you say the true capitalism means eliminating private property or taxing any additional property so high that no one can make any income from it, people will go nuts yet that's what the classical economists supported. Sadly we make a bull s*** about them without reading their own books and hailing bankers and multiple property owners as productive members of society but all they do is reduce productive capacity that could have been used to produce more as they are only consuming not producing.

Germany before World War 1 was implementing a true capitalist system but sadly the war decimated those efforts

@@NadeemAhmed-nv2br makes me question the value of rich kids who just spend and contribute practically zero

5 years later, his action proved successful. The company is now processing more than double the amount of money it processed before the 70k raise.

@@daedalron When I saw your recent reply to my comment, I had to go back and see why I wrote what I did and what the NYT video was all about in the first place. I'm happy to hear that Price's bold experiment worked out positively for the company. I was only commenting on the 'experiment' of giving your lowest paid employee a living wage and maybe a little more. The article is now 5 years old, but I just finished reading an item from 2015 by Bloomberg Businessweek about Price, his business relationship with his brother Lucas__a minority shareholder in the company, and what this company-wide payrise might have really meant: www.bloomberg.com/features/2015-gravity-ceo-dan-price/ If, at the end of the day, the company's fortunes (no pun intended) improved by acquiring more customers, retaining older ones, and generally making the life of all Gravity's employees a little easier financially, then the 'experiment' was a success. New customer acquistion and retaining current customers is certainly an expense and if an across-the-board pay rise (and taking a big cut in your own, some would say "inflated" salary) then that was the real bonus in all the free publicity that Price accrued by his actions. Processing credit card payments sounds about as exciting as making widgets so anything to make the employees feel better about themselves was a good move on the boss's part.

@@Park2King Yeah, his action was clearly bold, and it ends up as a good example for economists / other companies as to what happens if you pay your workers well, instead of giving all the money to the top executives. He apparently had already done the experiment earlier, by giving big raises (+15% salary) in the years before, and saw that both time he did it, the productivity went up, hence why he decided to go for the 70k minimum wage. He said in some interviews that not everything went well, mostly the issues were from people who were greedy / jealous, like his brother, and some high-payed employee who were jealous that new workers would get hired at the same pay as them, and some quit for that reason (despite the fact that he didn't lower salaries from people who were already earning more than 70k). But time proved that this kind of management is not doomed from the start, like many in conservative media tried to paint it. Far from it :)

lmao well 7 years later he's been forced to resign and is accused of rampant sexual harassment/assault. oopsy

Not enough shares Oh and people who don't work for him feel slighted bc they don't work for him and will never be as respected as he respects his own.

Because the World is upside down and Satan is in charge and God should be.And I don't even go to Church and I'm saying that!!

some employees were really salty and left. i guess they still have the silly belief that paycheck equals self-worth. but there are plenty of talented people who just want to work with good folks in a happy environment rather than make six figures in a miserable cutthroat workplace where everybody back stabs each other to get top pay

It is still working. His employees are happy, healthy, and paying it forward.

I know this comment was 6 months ago, but I really hope you're OK.

Buddhist monks have no money but they have purpose n r happy. Visit a meditation centre n hope u get to experience some peace there. Hope u find peace is more than worth its price in gold but u dont need money to get some. U r much much richer than u know. U just have to find it!

invest

sell ur car sell anything that takes up money and invest it all on something u feel optimistic about

wow

Looks like Thor!

Dude ,he's a good guy ,I'd like to have a Blue Moon beer with him any day ,but he doesn't look like Jesus ,he does some good deeds but he doesn't really act like Jesus, 'cause Jesus condemned the Pharisees and the Jews in the Temple and ended up getting crucified.He's just a guy who wants to make money , spread a few bucks around so the broads like him and dudes like me want to have a beer with him.Thats all.!!!! HE AIN'T JESUS.Get it through your head.

@@aithi2694 Yes ,he definitely looks more like Thor than Jesus .And I'm a student of history!!☮️👌✝️🙏

If he does good and makes $$ at the same time ,then I think people like him should be running the country.Sadly ,they're not

Liberty Doctrine What? As opposed to not having a house to rent out? Feel the Bern!!!

+Tim Bradley Dan Price and bernie sanders are out to prove socialist and communist do work! yeah! let's vote them in office! there is a movement out there!

4 years later, his company's revenue has more than doubled. I guess people maybe should have voted for Sanders, then...

@@akathetruthteller When you don't understand basic principles of economics like not even knowing what socialism is, it makes you sound dumb and you should probably stop talking about economic systems unless you've grasped what they are. :)