“For a while, it wasn’t clear that the gamble was going to pay off.
But eventually it did: Business has surged, and profits are higher than ever. Gravity last year processed $10.2 billion in payments, more than double the $3.8 billion in 2014, before the announcement. It has grown to 200 employees, all nonunion.”
Impossible to know whether this would work in different market conditions, but it’s a good sign. One rationalization could be workers being more productive because they are paid more. I know this clashes with some economic models, but there’s definitely a marginal argument for getting more for paying more.
But eventually it did: Business has surged, and profits are higher than ever. Gravity last year processed $10.2 billion in payments, more than double the $3.8 billion in 2014, before the announcement. It has grown to 200 employees, all nonunion.”
Impossible to know whether this would work in different market conditions, but it’s a good sign. One rationalization could be workers being more productive because they are paid more. I know this clashes with some economic models, but there’s definitely a marginal argument for getting more for paying more.