this post was submitted on 02 Nov 2023
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Unredacted FTC suit shows 'Project Nessie' price-raising algorithm made Amazon $1.4B (techcrunch.com)
submitted 2 years ago by dantheclamman@lemmy.world to c/technology@lemmy.world
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[–] ElectroNeutrino@lemmy.world 1 points 2 years ago (1 children)

Yes, which is the price-fixing I was talking about. There doesn't need to be an overt agreement to fall under price fixing.

[–] blazera@kbin.social 0 points 2 years ago (1 children)

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 1 points 2 years ago* (last edited 2 years ago) (1 children)

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

[–] blazera@kbin.social -1 points 2 years ago (1 children)

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 1 points 2 years ago* (last edited 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.