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Monopoly Power

All articles tagged with #monopoly power

technology1 year ago

Jon Stewart Reveals Apple's Interference with AI Talk Show Interview

Jon Stewart revealed that Apple prevented him from featuring Federal Trade Commission Chair Lina Khan on his show and discussing artificial intelligence, leading to the cancellation of The Problem with Jon Stewart. Stewart criticized AI's impact on job loss and Big Tech's monopolistic power, particularly Apple, Facebook, and Google. He also questioned the retraining narrative around AI, drawing parallels to the failed promises made during the decline of the coal industry. Additionally, Stewart and Khan discussed the dangers of concentrated power in tech companies and the externalization of accountability through algorithms. Apple's extensive acquisition of AI startups and its upcoming AI announcement at the Worldwide Developers Conference were also highlighted, amidst the company facing a historic antitrust lawsuit from the Department of Justice.

via Gizmodo|
#apple#artificial-intelligence#ftc
technology2 years ago

"DOJ Backs 'Bard' Chatbot in Antitrust Trial Against Google's Monopoly Power"

Google's AI chatbot, Bard, has expressed support for the US Justice Department's antitrust case against Google, stating that the DOJ should prevail in the trial. Bard criticized Google for wielding illegal monopoly power and harming consumers. The chatbot agreed with the DOJ's arguments that Google's dominance in the online search market has led to higher prices for advertisers and lower quality search results for users. Bard suggested potential remedies, including ending default search engine deals, sharing search data with rivals, and even breaking up Google's search advertising business. Google's own spokesperson dismissed Bard's opinions, calling it an experiment that is better at recommending tourist attractions than opining on complex antitrust lawsuits.

via New York Post |
#antitrust#bard#doj
technology2 years ago

"Google CEO Testifies on Improving the Web and Search Monopoly Concerns"

Sundar Pichai, the CEO of Google, testified in a landmark antitrust trial, defending his company against claims of monopoly power. Pichai contradicted the Justice Department's allegations that Google's payments to companies like Apple to be the default search option on their devices represented unchecked monopoly power. He argued that these payments were necessary to ensure Google's search engine worked well on popular devices. The trial reflects increasing efforts in Washington to rein in the power of Big Tech, with the Federal Trade Commission also filing antitrust lawsuits against Meta and Amazon.

via The New York Times|
#antitrust-case#big-tech#google
business2 years ago

Amazon's Pricing and Fee Structure Under Fire from Sellers

Amazon is facing a federal lawsuit accusing it of squeezing independent sellers, as many third-party merchants have experienced success followed by bankruptcy. The lawsuit alleges that Amazon uses its monopoly power to eliminate rivals, punishes sellers offering lower prices on other platforms, and increases fees indiscriminately. Sellers claim that Amazon competes with them by selling the same products, often at lower prices, and using its dominance to control search results and shipping. Critics argue that Amazon's market dominance necessitates more competition and potential breakup to protect consumers and prevent a diminishing online experience.

via NPR|
#amazon#bankruptcy#business
business2 years ago

Amazon Sellers' Livelihoods Thrived Until Amazon's Revelation

Amazon is facing a federal lawsuit filed by the Federal Trade Commission (FTC) and 17 state attorneys general, accusing the company of using its monopoly power to harm independent sellers. The lawsuit alleges that Amazon punishes third-party sellers offering lower prices on other platforms, forces them to use its shipping service, and increases fees indiscriminately. Many third-party sellers have experienced success on Amazon only to later lose everything, as the company competes with and replicates their products. The lawsuit highlights the precarious position of third-party sellers on Amazon, where sudden changes can have devastating consequences. Critics argue that Amazon's dominance necessitates more competition and potential breakup to protect consumers and promote a better online experience.

via MPR News|
#amazon#bankruptcy#business
finance2 years ago

Investors Predict Fed to Maintain High Rates Due to Corporate Greed-Driven Inflation.

According to a Bloomberg survey of professional and retail investors, soaring corporate profits are contributing to the current inflation problem, and most respondents believe that keeping interest rates high is the best way to address it. The survey also found that the retail sector has seen the most opportunistic pricing during the pandemic, and the energy industry came in second. The majority of respondents expect profit margins to recede to pre-Covid levels, but some believe that better enforcement of antitrust laws and higher corporate taxes could be alternative solutions to tighter monetary policy.

via Yahoo Finance|
#corporate-profits#finance#inflation