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Bloomberg journalist Leah Nylen discusses the US government's antitrust cases against Google and Amazon, exploring allegations of monopoly power, stifling competition, and the potential impact on consumers. The podcast covers the importance of third-party sellers on Amazon, Google's search market monopoly, and the ongoing trial between the government and Google. It also touches on the Biden administration's focus on competition and potential actions against other tech companies.
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Quick takeaways
- The FTC has sued Amazon for antitrust violations, alleging the company's monopolies in online marketplace services and online superstores have raised prices for sellers and consumers.
- The Justice Department and state attorneys general have sued Google for illegally maintaining its monopoly over the search market by entering contracts with other companies, such as Apple, to ensure its preselected option as the default search engine.
Deep dives
The FTC's Complaint Against Amazon
The Federal Trade Commission (FTC) has sued Amazon for antitrust violations, alleging that the company has two separate monopolies: one over online marketplace services and the other over online superstores. The complaint states that Amazon has engaged in conduct that has raised prices for both third-party sellers and consumers. The FTC alleges that Amazon has tied access to its marketplace with the use of its logistics service, giving priority to sellers who use this service. Additionally, Amazon has a price parity clause that requires sellers to always sell their products cheapest on Amazon, causing prices to rise across the entire web.
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