🏠 From Prime To Crime
The FTC strikes again
Gm. I was reading an article the other day that said Sam Altman used to predict the odds of a founder being successful by how fast they responded to messages and emails. I am now responding to messages and emails at light speed. Thanks a lot, Sam.
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THE Tech Trial Of The Century
A couple of weeks ago, we covered the DOJ’s lawsuit attacking Google’s search dominance, calling it the “tech trial of the century”.
Well, it looks like we spoke too soon. Because the FTC and 17 states just dropped a bomb on Amazon.
That bomb comes in the form of a lawsuit against Amazon’s e-commerce money printing machine.
The 172-page complaint alleges that Amazon maintains a monopoly by:
Requiring sellers on its platform to purchase Amazon’s in-house logistics services in order to secure the best seller benefits, also known as “Prime” eligibility.
Forcing sellers to list their products on Amazon at the lowest prices anywhere on the web.
And that alleged monopoly is hurting sellers, by forcing them to accept Amazon’s terms, and consumers, as there are no competitors forcing Amazon’s prices down.
In FTC’s chair Lina Khan’s own words, Amazon is “squarely focused on preventing anyone else from gaining that same critical mass of customers”.
So, we have this lawsuit with everything on the table, even a potential breakup.
Amazon naturally disagrees with the FTC, even saying that this suit could hurt consumers by forcing them to raise prices, offer slower and less reliable Prime shipping, and make Prime more expensive.
Ultimately, we have a true heavyweight fight on our hands here, and the stakes couldn’t be bigger.
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I can’t lie, this is pretty cool.
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