Entrepreneurship is evolving

By Mark Attwood | Business

Apr 30

It takes forward-thinking entrepreneurs to shake up the old paradigms, and that’s exactly what CEO of Seattle-based credit card payment company Gravity Payments, Dan Price is doing.

He believes that the level of income that creates joy and harmony in employees is $70,000 per year, so he’s slashed his $1M salary to raise his employees’ minimum wage to $70,000 over a three year period.

You can watch him being interviewed by a slightly bemused old-school business hack:

I really admire Dan Price for this. It’s not just altruistic, it’s good business sense and great marketing. If you look on his website you can see that he’s bringing a breath of fresh air into an industry that is littered with crooks and thieves – the credit card business.

As someone who had £100k stolen from us by Lloyds TSB credit card processing department (I got it back using a very powerful technique – email me if any company owes you money), I am very pleased to see what Dan is trying to do here.

He says in this video how his company was founded on the principle of never wanting to make “screw-you money”. Brilliant!


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