Report: Amazon wen sneak use one algorithm fo’ jack up da prices 🤫💰📈

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Amazon Stay Jack Up Prices Wit One Secret Algorithm K, so check dis out. Da Verge wen report dat Amazon wen use one secret algorithm fo’ hike up da prices. Dis info all come from one new report by Makena Kelly, who stay covering all kine politics and power stuffs dat influence da tech industry.

Da buggah she talking about is called Project Nessie, and was first brought to light last month when the Federal Trade Commission (FTC) went file complaint against Amazon for breaking US antitrust law. The FTC’s public complaint had small kine mention of Project Nessie but most of it was blacked out 🕵️‍♂️. According to the Wall Street Journal Tuesday story, this Nessie thing would make prices go up and then watch if other stores like Target would do the same thing 🎯👀 .

If those other guys no raise their price too, then the algorithm just bring back down Amazon’s price to where it was before. Nessie allegedly helped Amazon make more money by artificially raising its prices across different shopping categories until they supposedly stopped using it in 2019 💰💸 . Douglas Farrar from FTC said on Tuesday that “We once again call on Amazon fo’ move fast remove those redactions so everybody can see what we saying they doing wrong with their monopolistic practices” 🔍✊ .

Project Nessie is only one way how FTC sayin’ that amazon illegally keeping its market dominance in e-commerce industry 👨‍⚖️🏪 . In September’s complaint filed by them guys at agency; dey accuse amazon for using plenty tricks like hiding listings or discouraging sellers from offering products cheaper elsewhere 😲😡 . “The complain sets forth detailed allegations noting how nowdays amazon exploiting monopoly power enrich itself while raising cost n making service worse for tens millions American families who shop on its platform and hundreds thousands businesses that rely on Amazon to reach them,” FTC Chair Lina Khan said in a statement last month 🗣️📜 .

But when asked about the suit, Amazon just said dat da FTC was “wrong with facts n law and we look forward making our case in court” 👩‍⚖️💼 . So now we gotta wait see how dis all gonna pan out.

NOW IN ENGLISH

Report: Amazon Secretly Used Algorithm to Increase Prices

Amazon Allegedly Raises Prices Using a Secret Algorithm Okay, so here’s the scoop. The Verge reported that Amazon allegedly used a secret algorithm to inflate prices.

This information comes from a new report by Makena Kelly, who covers all sorts of political and power-related issues influencing the tech industry.The subject she discusses is known as Project Nessie, which was first revealed last month when the Federal Trade Commission (FTC) filed a complaint against Amazon for violating US antitrust law. The FTC’s public complaint briefly mentioned Project Nessie but most of it was redacted 🕵️‍♂️ .

According to Tuesday’s Wall Street Journal story, this ‘Nessie’ operation would raise prices and then observe if other retailers like Target would follow suit 🎯👀 .If these competitors did not also increase their prices, then the algorithm simply reduced Amazon’s price back to its original level. It is alleged that Nessie helped Amazon earn more revenue by artificially inflating its prices across various shopping categories until they supposedly ceased using it in 2019 💰💸 .

Douglas Farrar from FTC stated on Tuesday “We once again urge Amazon to swiftly remove those redactions so everyone can see what we claim they are doing wrong with their monopolistic practices” 🔍✊ .Project Nessie is just one method that FTC alleges amazon uses illegally maintain its market dominance in e-commerce industry 👨‍⚖️🏪 . In September’s complaint lodged by them at agency; They accuse amazon of employing numerous tactics such as hiding listings or discouraging sellers from offering products cheaper elsewhere 😲😡 .The complain sets forth detailed allegations noting how currently amazon exploiting monopoly power enrich itself while raising cost n making service worse for tens millions American families who shop on its platform and hundreds thousands businesses that rely on Amazon to reach them, FTC Chair Lina Khan said in a statement last month 🗣️📜 .However, when asked about the lawsuit, Amazon simply stated that the FTC was “incorrect with facts and law and we look forward to presenting our case in court” 👩‍⚖️💼 .