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Unredacted FTC suit shows 'Project Nessie' price-raising algorithm made Amazon $1.4B (techcrunch.com)

submitted 11 months ago by dantheclamman@lemmy.world to c/technology@lemmy.world

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[–] blazera@kbin.social 0 points 11 months 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 11 months ago* (last edited 11 months ago) (1 children)

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

[–] blazera@kbin.social -1 points 11 months 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 11 months ago* (last edited 11 months ago)

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

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