October 14, 2020

[Ep. 248] The Effects of a $70k Minimum Wage Increase with Dan Price

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I almost never slide into anyone’s DMs, but if I do…it’s to beg them to be on my podcast. So when I saw some news articles online talk about Dan Price, CEO of Gravity Payments, and the effects of the $70,000 minimum wage increase he implemented 5 years ago (a story that went viral globally!), I thought this was my chance to just ask and see what happens.

And it worked! Not only that, Dan has since written a book called Worth It all about his journey of becoming an entrepreneur, going from no money to millionaire status, and then making the radical decision to cut his million-dollar salary to $70,000/year so he could increase the wages of all his staff.

In this episode, we talk about his relationship with money, his experiences mingling with the 1%, income inequality, universal basic income, and what he hopes to achieve with his $70,000 minimum wage in the future. All I can say is I hope more CEOs take a page out of his book (pun intended) because people not only deserve a living wage but a wage that can make a huge difference in their overall quality of life.

Things I Mentioned in This Episode

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