Amazon finds itself under the FTC’s microscope as the federal agency scrutinizes the e-commerce giant’s business as part of its lawsuit against Jeff Bezos’ company. The latest allegations include that the company used a secret algorithm, dubbed “Project Nessie,” to manipulate prices and expand the company’s profits.
The Wall Street Journal reports that in a world where e-commerce has become synonymous with convenience, Amazon is facing a massive lawsuit filed by the FTC alleging a wide array of anti-competitive practices. The latest allegations focus on a secretive algorithm, known internally as “Project Nessie,” which is now emerging as part of the lawsuit. Although Nessie may have other meanings to the Amazon executives that crafted the manipulation algorithm, it is popularly known as the name of the Loch Ness Monster. more
Well, good morning Captain Obvious.
Not a fucking thing will happen.
Meanwhile I sold something for more than $600 bucks online this year so now I have an IRS microscope up my ass.
I’ve never said this before, in fact let me rephrase this…
“For the first time in my adult life I hate this fucking country!”
Amazon is superior for convenience, reviews, and prices too. I buy from them fully aware of the price, they keep me up to date on delivery status (and it’s typically very fast delivery), and problems are quickly dealt with. It is an extremely good business model, developed over 3 decades.
That said, I despise its CEO and his politics, and it doesn’t surprise me that they engage in anticompetitive measures. I would happily switch to a comparable alternative, and if Amazon is engaging in illegal activity would love to see them pay for it.
^^^“For the first time in my adult life I hate this fucking country!”
Not only do you have to deal with the aches and pains of getting old you have to deal with a litany of rules and regulations designed to make your life as hard as possible. TOO DAMN MUCH RED TAPE. LEAVE US THE HELL ALONE!
LCD, I get why people use Amazon.
I suppose I am fortunate that I’ve never had reason to buy ANYTHING from Amazon and I doubt I ever will.
The things I buy aren’t really cheaper on Amazon.
If you have an account and get free shipping I can see how that helps.
LocoBlancoSaltine
I don’t think the $600 deal has kicked in yet. I’m sure it was their way to tax the rich, don’t ya know, cause all the $Billionaires deposit $600 at a time.
If I were to tax the rich, I would start here.
285,000 Businesses Are Based in This Tiny Building Thanks to the Delaware Loophole
https://interestingengineering.com/video/285000-businesses-are-based-in-this-tiny-building-thanks-to-the-delaware-loophole
Sometimes I read this shit and I think I must be living in some sort of whacked parallel universe suddenly.
” Amazon is facing a massive lawsuit filed by the FTC alleging a wide array of anti-competitive practices.”
Well if they’re not competitive they would be losing money right? WTF.
“Algorithms to raise pricing and force they’re competitors to raise theirs”
So Jeffery has a gun to the head of his competitors or his competitors look at Amazon’s pricing and think, Holy shit, they’re more expensive than we are. We better raise our prices, we wouldn’t want to sell to many of these things. We might make money. WTF
I buy a lot from Amazon. If I think it’s too expensive, I don’t buy it. Amazon pricing seems to run about the same as you would find in the stores at non sales pricing. Maybe a little bit more. But I don’t need to take my time or burn my fuel to go get it.
I purchased a shirt from them this morning. I’ve been seeing them at the gym. Black shirt, white bold print that reads, THERE ARE ONLY 2 GENDERS.
“For the first time in my adult life I hate this fucking country!”
Certainly not the first time for me, although I make a distinction between my country and the people who run it.
I am re-reading “Miracle At Philadelphia”;
https://www.amazon.com/Miracle-Philadelphia-Constitutional-Convention-September/dp/0316103985/ref=sr_1_1?crid=4BYQXG2TB524&keywords=miracle+at+philadelphia+by+catherine+drinker+bowen&qid=1696527863&sprefix=miracle+at+Phil%2Caps%2C152&sr=8-1
We all know the Adams’ adage that our form of government only works with “Moral” men, that is what’s missing today. All our problems could be solved/alleviated with men of a superior pedigree, men of integrity, honesty, a duty to serve, an awareness of their own infallibility, and a willingness to look to God for guidance.
Men like these could save us, but I have little to no hope that they exist or will do their duty.
Common Cents. The $600+ reporting to the IRS has indeed kicked in.
I was issued a 1099 and will have to pay taxes on what I sold.
They didn’t hire 87,000 new agents and train them on firearms just to pick daisies…
They are here to fuck Americans over for Ukraine & chew gum…
and they’re all out of gum!
The Free Market System is dead, thought we would get used to Big Government’s intrusion in every aspect of our life by now.
FTC: Amazon is selling items too cheaply
If you like the way government monopoly runs business, look at the US Postal Service.