AMAZON REPORTEDLY USED A SECRET ALGORITHM TO JACK UP PRICES

Summary from the TLDR newsletter

Amazon deployed a secret algorithm called Project Nessie to gauge how high it could raise prices before competitors stopped increasing their prices as well. The algorithm would inflate prices and monitor whether other retailers would follow suit. If retailers maintained the lower price, the algorithm would revert back to the normal price. Amazon reportedly stopped using it in 2019. Project Nessie is just one of the many ways the FTC has accused Amazon of illegally maintaining its market dominance in the e-commerce industry.