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Wed. 09/27 – The Big Amazon Lawsuit
Sep 27, 2023
Jony Ive may be working on an AI hardware project with OpenAI. OpenAI seeks a new valuation of up to $90 billion. Writers win new provisions in WGA contract. Mercedes-Benz's autonomous Drive Pilot feature is put to the test.
16:40
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Quick takeaways
- Amazon is facing a lawsuit from the FTC and 17 states for alleged anti-competitive practices and harmful treatment of sellers.
- OpenAI, backed by Microsoft, is seeking a valuation of up to $90 billion and aims to develop a consumer-focused AI hardware device.
Deep dives
FTC and States Sue Amazon for Alleged Monopoly Power
The Federal Trade Commission (FTC) and 17 US states have filed a lawsuit against Amazon, accusing the company of using its monopoly power to raise prices, force sellers to pay fees, and harm competitors. The suit claims that Amazon applies anti-discounting measures to punish sellers and discourage other retailers from offering lower prices. Additionally, the FTC argues that Amazon requires sellers to use its costly fulfillment services to obtain the coveted Prime badge, increasing business expenses.
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