• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Thursday, May 8
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025

    ‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Tech»‘Project Nessie:’ FTC Lawsuit Claims Amazon Ran Secret Algorithm to Manipulate Prices and Expand Profits
Tech

‘Project Nessie:’ FTC Lawsuit Claims Amazon Ran Secret Algorithm to Manipulate Prices and Expand Profits

October 4, 2023No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Amazon finds itself under the FTC’s microscope as the federal agency scrutinizes the e-commerce giant’s business as part of its lawsuit against Jeff Bezos’ company. The latest allegations include that the company used a secret algorithm, dubbed “Project Nessie,” to manipulate prices and expand the company’s profits.

The Wall Street Journal reports that in a world where e-commerce has become synonymous with convenience, Amazon is facing a massive lawsuit filed by the FTC alleging a wide array of anti-competitive practices. The latest allegations focus on a secretive algorithm, known internally as “Project Nessie,” which is now emerging as part of the lawsuit. Although Nessie may have other meanings to the Amazon executives that crafted the manipulation algorithm, it is popularly known as the name of the Loch Ness Monster.

Amazon delivery driver

Amazon delivery driver ( PATRICK T. FALLON /Getty)

Jeff Bezos/Instagram

The algorithm, as per sources familiar with the FTC’s complaint, was instrumental in bolstering Amazon’s profits across a wide variety of shopping categories. Not only did it serve to enhance Amazon’s financial gains, but it also inadvertently nudged competitors into elevating their prices, thereby imposing a financial burden on consumers. In scenarios where competitors abstained from matching Amazon’s prices, the algorithm astutely reverted the item to its original price.

An Amazon spokesperson defended the initiative, stating, “Project Nessie was a project with a simple purpose—to try to stop our price matching from resulting in unusual outcomes where prices became so low that they were unsustainable. The project ran for a few years on a subset of products, but didn’t work as intended, so we scrapped it several years ago.”

See also  Disney Hulu's 'The 1619 Project' Receives Three Nominations, Doc Pushed $16 Trillion in Slavery Reparations

However, the FTC’s lawsuit paints a different picture, alleging that the practice “extracted from American households” a significant amount of money and facilitated the generation of a redacted sum of “excess profit.” A Wall Street Journal source claims that Amazon accrued more than $1 billion in revenue through the utilization of this algorithm.

The ramifications of “Project Nessie” extend beyond mere pricing adjustments. The FTC’s complaint underscores a broader impact, suggesting that Amazon’s monopoly power has had a widespread influence on elevating consumer prices across the retail sector. This is particularly pertinent in the context of third-party sellers on Amazon’s platform, who, according to the FTC, often find themselves ensnared in a predicament where they are compelled to elevate prices for consumers.

Read more at the Wall Street Journal here.

Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship.

Algorithm Amazon claims expand FTC lawsuit Manipulate Nessie Prices profits Project ran secret
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Amazon Reportedly Floats Plan To Show Tariff Price Increases To Shoppers — Karoline Leavitt Calls It ‘Hostile’ Move

April 29, 2025

US Monthly Producer Prices Unexpectedly Declined In March

April 11, 2025

After Crawling Under A Rock For Four Years, Dems Suddenly Reappear To Complain About High Prices

February 28, 2025

The Secret To Easing Everyday Aches And Pains Without Medication

February 26, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

China vs US Approaches to AI Governance

October 19, 2023

Elliot Page Scheduled Transgender Surgery Consultation ‘Within Weeks’ of Hearing Voices and Self-Mutilating

June 11, 2023

Lakers are not interested in any player except Luka Doncic for a potential LeBron James trade

June 6, 2023

How To Take Care Of Your Mental Health As You Physically Recover From A Serious Injury 

January 26, 2024
Don't Miss

Trump Announces First Post-Tariff Trade Deal

Business May 8, 2025

President Donald Trump announced Thursday the U.S. has reached a trade agreement with the U.K.,…

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,110)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,626)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

“Remember why you love this game”

June 29, 2023

LGBT Advocates Utterly Fail to Cancel Game Streamer Nickmercs for Saying ‘Leave Children Alone’

June 21, 2023

Sen. Schmitt Rips Biden for Censorship Against ‘Disfavored’ Opinions

April 8, 2023
Popular Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.