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Reality Check for Startup with $70K Min. Wage

August 1st, 2015 | Posted by pftq in Blabberbox | #
More reality checking on Silicon Valley with the startup that declared $70K minimum wage now hitting hard times because of it:
CEO Who Set Firm's Minimum Wage at $70K Hits Hard Times

Had already pointed out that things like this were unsustainable in my Perfect Storm for Silicon Valley write up a couple months back. It's all well intentioned but overly idealistic with not enough thought put into the consequences.  It's not the first time a company has tried to create somewhat of a utopia for its employees (aka paternalism), but it would be nice to look back on history and not repeat the same mistakes.  One simply has to look back on 19th and 20th century history to find past companies pursuing similar policies (Pullman, Ford, ...). It seems to be a trend now to always charge forward and deny any lessons from the past as old ways of thinking.
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