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Dan Price, Giving Tuesday, Dan price twitter, gravity payments, ceo gives 70k

Dan Price on Twitter.

Dan Price is the go-to example for business done right. No doubt you’ve heard of the CEO made famous by going against the corporate grain, giving every employee a base annual salary of $70K, which—despite criticism—led to soaring profits (six years and counting).

So it’s probably no surprise that on Giving Tuesday, the business owner with a compassionate vision once again chose people over profit. Doesn’t make the idea any less genius though.

The Gravity Payments CEO announced on Twitter that every employee receives $500 dollars a year to donate to the nonprofit of their choice. With at least 200 employees, that is no small sum. But then again, Dan Price has made a name for himself pairing ambition with altruism.


His tweet also read:

“Our employees are collectively way smarter than I ever could be as CEO. So instead of making top-down decisions on how to spend our money, we try to make bottom-up decisions.”

Price came to the base wage of $70K idea after an agitated worker told him that entry-level salary was, to put it bluntly, a rip-off. After realizing that the employee was right, Price was inspired to make a change for good, literally. To make this happen, he would have to slash his nearly million dollar annual income by 90%.

The decision was met with heavy criticism, but how can you argue with tripled revenue and a doubled customer base? These were the reported companywide transformations posted to Twitter after only six years.

Even during the pandemic, when revenue dropped by 55%, employees were so loyal to Price that they voluntarily took pay cuts to make it through the tough time. Those employees were then paid back, even receiving raises after the company earned profits again.

Bottom line: Price continues to live by his mission to “invest in people,” and it just works.

Since becoming the “CEO just trying to stand up for the underdog,” Price regularly tweets about injustices created by corporations, busting myths and making public call-outs.

Like this one, where Price pointed out that keeping stores open on Thanksgiving doesn’t actually help anyone. Least of all the workers forced to leave their families.

Or when he gave some staggering numbers to show the ridiculousness of “idolizing the rich.”

In regards to Price’s Giving Tuesday tweet, people were generally moved at how this empowered employees. Many people commented, “where can I apply?” Which is funny, yes, but also a testament to how (sadly) radical a move this is.

Business models that actually embody shared values are not only possible, they’re necessary. Though we are far from finishing, society has made major steps reevaluating work-life balance, living wages and fairer working conditions. This is in part because of people like Dan Price, true leaders who understand that power grows when it is shared.

Gravity Payments, Dan’s company, says on it’s website “we’re changing the way the industry operates. The world is taking notice.”

It certainly is. Hopefully the world not only takes notice, but follows the example as well.

True

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Someone asked strangers online to share life's essential lessons. Here are the 17 best.

There's a bit of advice here for everyone—from financial wisdom to mental health tips.

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Failure is a great teacher.

It’s true that life never gets easier, and we only get continuously better at our lives. Childhood’s lessons are simple—this is how you color in the lines, 2 + 2 = 4, brush your teeth twice a day, etc. As we get older, lessons keep coming, and though they might still remain simple in their message, truly understanding them can be difficult. Often we learn the hard way.

The good news is, the “hard way” is indeed a great teacher. Learning the hard way often involves struggle, mistakes and failure. While these feelings are undeniably uncomfortable, being patient and persistent enough to move through them often leaves us not only wiser in having gained the lesson, but more confident, assured and emotionally resilient. If that’s not growth, I don’t know what is.

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via Co-Op and Pixabay

Co-op CEO Shirine Khoury-Haq.

The CEO of Co-op, one of the UK’s largest supermarket chains has made an important statement about excess at a time when many families are struggling in the UK.

The Daily Mail reports that Shirine Khoury-Haq, the head of a company with over 3900 retail locations says she’s giving her twin, six-year-old daughters one present each this Christmas because she could not “in good conscience” give them more while millions of families struggle with inflation and high energy prices.

Khoury-Haq makes over £1 million ($1,190,000) a year after bonuses, so she pledged to give her family's present money to those in need. “It just feels like excess, given what’s happening in the world. In good conscience, I can’t do that in my own home,” Khoury-Haq said according to The Guardian.

“The rest of our budget will be given to Santa to provide presents for children whose parents can’t contribute to the elves,” she continued. “We’re going to go out shopping for those other presents and [we will] send them to Santa.”

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This article originally appeared on 08.20.21


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Democracy

Cuban immigrant’s reaction to getting his first American paycheck has gone viral

Before coming to the U.S. last year, Diaz made $12 a month as a computer science teacher in Cuba.

The Cuban and American flags.

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In the video, Diaz is ecstatic after he opens his first paycheck after getting a job as a seasonal worker for UPS. CBS reports that before coming to the U.S. last year, Diaz made $12 a month as a computer science teacher in Cuba.

"This is my first hourly paycheck that I feel every hour counted," he told CBS News. "That every hour of work has importance in my life and that I know I can work hard for something. I can't compare that emotion with anything. Because I never had that in my country."

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