Amazon's 'Project Nessie' algorithm was used to raise prices: Report

From the creator

Amazon (AMZN) is receiving criticism after a Wall Street Journal report detailed the online retailer's use of an algorithm — named "Project Nessie" — designed to raise consumer prices and ultimately drive profits. Amazon generated over $1 billion in revenue as a result, according to the report. This comes to light amid the ongoing antitrust lawsuit filed against Amazon by the Federal Trade Commission (FTC). Yahoo Finance's Rachelle Akuffo and Akiko Fujita explain the objectives of "Project Nessie" and delve into how the company effectively implemented it, touching upon its potential implications on ongoing legal proceedings. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb #youtube #Amazon #yahoofinance About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more. To learn more about Yahoo Finance Plus please visit: https://yhoo.it/33jXYBp Connect with Yahoo Finance: Get t

Published 2023-10-04 · Watch on YouTube ↗
Availability and playback restrictions are controlled by the original channel.