https://finance.yahoo.com/news/amazon-used-market-power-warp
In a new lawsuit, the Federal Trade Commission alleges that Amazon used its grip on the online market to warp the price of goods across the internet.
The Federal Trade Commission, the U.S. government’s primary business regulator, sued Amazon on Tuesday, alleging it has used its market power to warp e-commerce across the internet.The allegations, which focus on the company’s primary marketplace, Amazon.com, paint a picture of a company able to use its size and power to pressure sellers to agree to its terms and warp the prices of goods.“There is immediate harm that is ongoing here,” FTC Chair Lina Khan said at a news conference ahead of the lawsuit announcement. “Sellers are paying 1 of every $2 to Amazon. Shoppers are paying higher prices as a result, not just on Amazon but across the internet. And the public as a whole has been deprived of the benefits of open and fair and free competition. And so that’s what this case is really about, and those are the harms that we’re looking to fix.”
@AshamedBi11R1ghtsRepublican8mos8MO
The FTC's argument is sellers feeling entitled to access Amazon's customers. Go build your business elsewhere if you don't like the rules.
@9FMLF6T 8mos8MO
My question is why didn't they go after Walmart, a company able to use its size and power to pressure sellers to agree to its terms and warp the prices of goods. With Walmart in every neighborhood small businesses suffer and often close.
