Thursday, August 6, 2015

Why CEO Dan Price of Gravity Payments is my new favorite person

Dan Price is the CEO of Gravity Payments. He is my new hero. He is a brave soul, and I must praise him for standing up against the status quo. All too often, I hear people complain about how bad and unfair society is. It is a travesty when I hear this from people who are well within their power to do something about it. Everyone wants to give off the appearance that they are an outstanding advocate for fairness. But if you point out that they can do their part in donating the excess portion of their salary to those more in need, they are quick to reply that you should take from someone else who has more. It doesn't matter if he makes 50K, or 150K, or 1.5M, a year. He already has big plans for all his money and you should go after someone who makes EVEN MORE in order to reduce all of the unfairness in the playground.

Dan Price is a true hero. He is perhaps the only person that I know of who was in the position to do something about it, and actually did something about it. I mean on a grand scale. I don't mean some guy making $10 bucks an hour donating his weekends to volunteer work. He reduced his own 2 million dollar salary to 70K, and raised all salaries in his company up to 70K. Anyone who was making less than 70K received an instant pay increase.  He put his money where his mouth is, and for that, he has earned a type of respect from me which I rarely give out. I find him undeniably credible in his political stance on fairness, something that I haven't found from everyone else who is all talk and no action. He is a hero, and he has made history.

When I was a kid, I truly believed everything was possible. I believed that I could fly if I tried hard enough. Not flying in an airplane. I mean flying unassisted. I tried over and over again, jumping off the couch while flapping my arms, convinced that every time I jumped, it took a little more time to hit the ground than the last. My parents were convinced that I was retarded. They were scared that I might try jumping from a higher place and really hurt myself. So they told me the story about some kid who jumped off a building trying to fly. They told me the kid died, and that I would die too if I tried it too.

They told me the kid was stupid, and that I should not be like him. Maybe he was stupid, maybe he wasn't. But he was undeniably credible in his stance that he could fly. He truly believed it. He is a hero, and he has made history. No one knows his name, but I cannot count how many lives he has saved when parents tell his story to kids like me. Many times in life, we wonder how badly something might hurt, or if it might hurt at all. Thank god for the people who actually do it, so that we don't become curious enough to do it to ourselves. I am throughly convinced that I cannot fly. I used to wonder if I cut my finger off, whether or not it would grow back. Good thing my parents knew of some other nameless kid who did that. They told me that it didn't grow back. I figured I would just take their word for it and I could always try it later if I changed my mind. I still have all my fingers.

Dan Price wondered what would happen if he raised everyone's salary to 70K per year with complete disregard to their skill and how much work they do. He completely ignore the resentment that might occur in the workers who put in a lot more effort and would not see any wage increase. Dan Price is so broke now that he has to rent out his home to strangers to help make ends meet. He is being sued by his own brother, who owns the minority share of 30% of his company, for disgorgement of investor equity. He has accomplished permanent damage to his company. Good workers have left. It's very hard to fire the workers who are now not only bad, but also overpaid. Clients have left. If the guy handling your money is can't keep his shit together, what's to stop him from disappearing with your money? Last thing you want is for your own doctor to tell you that you can fly if you tried hard enough. He put his profitable company on the road to bankruptcy overnight, because he really really really wanted to see if his finger would grow back if he cut it off.

Dan Price will go down in history. He will become another nameless kid that all the parents will tell their children anytime they want to see what happens when you double all of your worker's salaries with complete disregard to whether or not there is merit. He is the hero who will save countless businesses from jumping off the roof. The damage that Dan Price has done is beyond what you see. Rather than doubling everyone's salary, he could have instead double his workforce. With everyone complaining about how there aren't enough jobs, he could have actually helped to solve a different problem, one that is worth solving, and probably won't put your company into an unsustainable spiral into bankruptcy.

Did you ever wonder why nobody flies? Because the one kid who tried it died. Do you know why you're not supposed to pay someone $15 per hour to do a job that everyone else pays $8.75 per hour for? Because you get a Corporate Darwin Award for it. If it was really a good idea, everyone would be flocking to do it. Dan Price could have read my blog. He might have learned some basics about corporate finance. But he was on this earth to serve a greater purpose.


  1. hahahaha for a hot second in the beginning, i thought you were becoming a socialist. terrifying.

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