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dantheclamman to Technology@lemmy.worldEnglish • 2 years ago

Unredacted FTC suit shows 'Project Nessie' price-raising algorithm made Amazon $1.4B

techcrunch.com

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Unredacted FTC suit shows 'Project Nessie' price-raising algorithm made Amazon $1.4B

techcrunch.com

dantheclamman to Technology@lemmy.worldEnglish • 2 years ago
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Unredacted FTC suit shows 'Project Nessie' price-raising algorithm made Amazon $1.4B | TechCrunch
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The mysterious and highly redacted "Project Nessie" seen in FTC antitrust allegations has been revealed to be exactly what we thought it was.
  • blazera
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    0•2 years ago

    It does need at least an implied agreement of companies intentionally working together to raise prices. A computer program to determine your own prices does not imply working with any other company.

    • @ElectroNeutrino@lemmy.world
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      2 years ago

      Go ahead and tell the FTC that you know the law better than they do.

      • blazera
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        -1•2 years ago

        let them tell you https://www.ftc.gov/advice-guidance/competition-guidance/guide-antitrust-laws/dealings-competitors/price-fixing

        Price fixing is an agreement (written, verbal, or inferred from conduct) among competitors to raise, lower, maintain, or stabilize prices or price levels. Generally, the antitrust laws require that each company establish prices and other competitive terms on its own, without agreeing with a competitor.

        • @ElectroNeutrino@lemmy.world
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          2 years ago

          And yet, they are the ones accusing Amazon of price fixing.

          Like I said, go tell them that they got it wrong.

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