The Federal Trade Commission (FTC) has reportedly alleged that Amazon used a secret algorithm code-named “Project Nessie” to test the limits of price increases while ensuring competitors would follow suit. This algorithm aided Amazon in maximizing its profits across various shopping categories, prompting competitors to raise their prices...
November 02, 2023
The Federal Trade Commission (FTC) reportedly unveiled details of a lawsuit against Amazon Thursday (Nov. 2), accusing the eCommerce giant of employing strategies to enhance its profits. The FTC alleges that Amazon used a secret algorithm, internally known as “Project Nessie,” to raise prices for specific products, resulting in over $1 billion in added costs for U.S. households, […]
October 03, 2023
The Federal Trade Commission (FTC) has reportedly alleged that Amazon used a secret algorithm code-named “Project Nessie” to test the limits of price increases while ensuring competitors would follow suit. This algorithm aided...
