this post was submitted on 04 Oct 2023
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Amazon reportedly used a secret algorithm to jack up prices — A new report details Amazon’s Project Nessie pricing algorithm (www.theverge.com)
submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world
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Amazon reportedly used a secret algorithm to jack up prices — A new report details Amazon’s Project Nessie pricing algorithm::Amazon deployed a secret algorithm to gauge how high it could raise prices before its competitors stopped increasing their prices as well.

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[–] ShittyRedditWasBetter@lemmy.world -1 points 1 year ago (1 children)

Amazon ain't serving you heat and electricity. You can go get your plastic from any number of retailers. Amazon is just automating more competitor analysis and using that data to automate pricing.

There is nothing going on here that doesn't go on in every industry. The only way they get in trouble is if they are using internal pricing data that's only available to them. In which case they can just scrape the public data instead

[–] gastationsushi@lemmy.world 0 points 1 year ago (1 children)

Seriously bro, I live in a red state and I can't ever remember a single conservative defend Amazon's right to act like a monopoly.

I thought everyone agreed, the company is total shit after 2020. Do you own their stock still or are employed by them?