Amazon Earned More Than $1 Billion Through Secret Price-Raising Algorithm: FTC

Amazon allegedly used a secret algorithm, "Project Nessie," to raise prices on its online store, prompting other retailers to follow suit, resulting in an extra $1 billion in profit, according to a lawsuit by the U.S. Federal Trade Commission (FTC). Amazon is accused of manipulating competitors into raising prices and hiding information from antitrust enforcers.Read the text version here.* Website: http://www.theepochtimes.com/* Trial subscription to The Epoch Times :     ** Digital: https://offers.theepochtimes.com/candigital     ** Print: www.ReadEpoch.caYou can also find our podcast on:* iTunes: https://podcasts.apple.com/epoch-audio* Spotify: https://open.spotify.com/epoch-audioSupport independent journalism of Truth, Tradition, Hope:* Donate: https://donate.theepochtimes.ca/Thank you!(c) 2023 Epoch Times Hosted on Acast. See acast.com/privacy for more information.

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Amazon allegedly used a secret algorithm, "Project Nessie," to raise prices on its online store, prompting other retailers to follow suit, resulting in an extra $1 billion in profit, according to a lawsuit by the U.S. Federal Trade Commission (FTC). Amazon is accused of manipulating competitors into raising prices and hiding information from antitrust enforcers.Read the text version here.* Website: http://www.theepochtimes.com/* Trial subscription to The Epoch Times : ** Digital: https://offers.theepochtimes.com/candigital ** Print: www.ReadEpoch.caYou can also find our podcast on:* iTunes: https://podcasts.apple.com/epoch-audio* Spotify: https://open.spotify.com/epoch-audioSupport independent journalism of Truth, Tradition, Hope:* Donate: https://donate.theepochtimes.ca/Thank you!(c) 2023 Epoch Times Hosted on Acast. See acast.com/privacy for more information.

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This episode was published on November 9, 2023.

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