I went off to read about how this was working out and found an article in Inc. Magazine. Fascinating information about Gravity Payments, his company. He's cut his own million dollar salary down to that 70k, to help pay for the boosted payroll, and his worker productivity has improved amazingly. There was also a boost to the company from the publicity surrounding his pay policy. He's doing great, but I got a good chuckle out of one of the comparisons in the article:
"Andrew Alexander Founder, Limitless Academy, Scottsdale, Arizona
"I pay my people $4 per hour. No, that's not a typo," says Alexander. "My most recent hire is named Mary, and she lives in the Philippines, which annoys a lot of my American friends struggling to get work. This is becoming the new norm for startup entrepreneurs. With limited funding, it's important to get the most as we can out of every dollar."
