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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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[-] gastationsushi@lemmy.world 5 points 1 year ago

Because demand based prices is manipulative bullshit from corporations.

In Oklahoma during that 2021 winter storm, demand based pricing charged power companies billions for natural gas, this in turn caused rolling blackouts until Oklahoma disconnected from the Texas. The charges were over 100x the normal rate, consumers are still playing for that winter storm with an extra surcharge which I'm guessing will stay there for a long as time.

Mind you this was caused by Texas based energy companies cheaping out when they deployed their infrastructure. And these same companies either get bailed out by the people or get windfall profits for fucking up. There is no justification for this type of pricing model.

[-] postmateDumbass@lemmy.world 3 points 1 year ago

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[-] ShittyRedditWasBetter@lemmy.world -1 points 1 year ago

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

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?

[-] ShittyRedditWasBetter@lemmy.world -1 points 1 year ago

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this post was submitted on 04 Oct 2023

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