News from Gravity Archives · Gravity Payments

How to Be a Small Business Champion

“We exist to stand with the little gal or guy who believes in the American Dream and is willing to work to chase it.” For the past sixteen years, this has been the Gravity Payments mission statement. Back when CEO and founder Dan Price was still a teenager, he learned that one of the coffee … Continued

How Small Businesses Are Faring Since the Start of COVID-19

At Gravity, we work directly with small and midsize businesses to help them process credit card payments. As such, we’ve witnessed firsthand the effects recent shutdowns and restrictions have had on these businesses since the outbreak of COVID-19. We wanted to take a moment to share some of that impact here and point out that, … Continued

How Our $70K Minimum Wage Is Helping Us Weather the Coronavirus Crisis

It’s been five years since we announced a $70,000 minimum wage at our company, Gravity Payments. Since then, our revenue has tripled and our headcount and customer base have doubled. Meanwhile, our employees have made major improvements to their lives, such as buying houses, starting families, saving for retirement, and eliminating debt. Our celebrations came … Continued

A Message from CEO Dan Price Regarding COVID-19

Dear business owners, We know this is a very difficult time for all of you as you figure out how to manage the ongoing chaos created by the COVID-19 pandemic. Many of you have been forced to shut down or scale back operations, while others have seen a dramatic decline in business created by public … Continued

IRS launches Identity Theft Central

The Internal Revenue Service recently launched Identity Theft Central, designed to improve online access to information on identity theft and data security protection for taxpayers, tax professionals and businesses. Identity Theft Central is available 24/7 at irs.gov/identitytheft. It is a resource on how to report identity theft, how taxpayers can protect themselves against phishing, online … Continued

The Problem with Bad Jobs

People work for two reasons: to make enough money to earn a living and/or to do work they feel matters. And yet, at least 13% of workers don’t even make a living wage through their paycheck, and millions of others are stuck doing menial work where they could be fired by an algorithm if they … Continued

Where are we spending the trillion our kids will be saddled with?

Scott Galloway: “Where are we spending the trillion our kids will be saddled with?” Simple: rich people. Lower tax rates on the wealthy and corporations (84% owned by the top 10% income earning households) were supposed to inspire growth and investment. They haven’t. — AirPods, Azure & Auschwitz Bernadette Jiwa: “There is no one-size-fits-all marketing … Continued

3 Things I Learned by Paying a $70,000 Minimum Wage

In 2015, we announced a $70,000 minimum wage at Gravity. In order to help pay for the increase, I cut my own salary from $1.1 million to $70,000 a year. As of today, I still make $70,000. I’ve learned a lot since that announcement five years ago. Three things stick out to me the most. … Continued

Dear Davos Attendees: Stop Talking about Changing the World

Dear Davos Attendees, The theme of your annual meeting this year is “Stakeholders for a Cohesive and Sustainable World.” Another way of putting this might be “For too long we’ve focused on how to make as much money as possible at the expense of society and the planet, and now that harm is coming back … Continued

What Is an Employee Worth?

In 2018, I wrote a post illustrating how one of our largest competitors could afford to pay every single one of its approximately 24,000 employees a minimum wage of $70,000 a year if its executives chose to spend the company’s money differently. The post garnered half a million views and hundreds of comments, indicating that … Continued

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