It's a good thing nobody over 60 works in an internet company office, because if he were ever late to work, all his office supplies would be claimed in 5 minutes.
So in exchange for five dollars, I get to sleep in and come to work whenever I want? Done!
...it's actually a tacky policy, but when you're able to quantify the cost of coming to work late, it usually makes the thought of being late more appealing. Especially early in the morning.