END OF AMAZON MONOPOLY? FTC Files Lawsuit | Big Breakdowns w/Matt Stoller

Matt Stoller breaks down the FTC lawsuit against Amazon for monopolistic practices in the online retail space.

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#news #politics #youtube

[Necropheliac]

Filing a lawsuit is different than winning a lawsuit. I hope that this becomes the change we need, but I'm not convinced it will change anything.

[lordcorgi]

It's about time the Government does their job.

[animegaming]

I’ve done my own little investigation years ago, so I can tell you a little more on how Amazon works.
(This is a made up example) Let’s say you made a diaper that stops a baby from crying for 8 hours because it’s so comfortable. Amazon sees and likes the product, so they make an offer to the creators to sell to their site. The people decline, so Amazon buys the product, learns how to reverse engineer, sells that “same” product with some changes to avoid a lawsuit, sells at a loss so that the competitor goes out of business.
I’ve learned this years ago and I’ve never used amazon since. I would rather pay higher prices from local stores or shipped from other sources, than support amazon. And this is on top of worker abuses and high turnover rate.

[adamjohnson]

I don't know how this will play out, but Amazon is absolutely a monopoly, ruined lots of small businesses such as publishing companies in its rise, and needs to be broken up. Way to go, FTC.

And good reporting and delivery by Matt.

[dalemccartney]

I deleted my own Amazon account after watching the reports of how Amazon micromanages their employees to the point of no bathroom breaks. When it was reported their employees were forced to use bottles and bags as restrooms that was it for me, and this report is no surprise to me either. I hope the FTC is successful in their suit.

[stephenclements]

Anyone who shops on Amazon is totally aware of the disclosure when considering looking for less expensive options. Not only have these options been algorithmically controlled, they do their best to steer you away from purchasing from a 3rd party vendor whenever there is a Prime option. When you're faced with the pop-up stating that the lower price and delivery time may be contingent on shipping outside of Prime? ( paraphrasing) Do yourself a favor and ignore the knee jerk reaction to tap on that back button. If it's merely a couple of bucks, would you rather more profit going to a small business or Amazon? I can wait a couple extra days if necessary. You'd also be surprised how often the 3rd party net pricing is actually lower. Many 3rd parties do offer free shipping as well... which is why the disclosure contains such an important word as "may" within it.

[byhislove]

I seriously try in person buying local. I get frustrated when searching for an item on Amazon because for example, I want a wooden file holder...plastic, metal, all shapes not wood comes up. It takes up my time. 😬

[sourceNsellenSarah]

This point can be made about eBay. I pay a subscription to have a store. I pay a fee to list an item. I pay a fee to sell an item and have access to the customer base. I pay a fee to advertise the item. I take about 50%. Ebay has the same model.

[Qwistie_]

I worked for a coolant company that sold one pail of coolant on amazon. They said the fees and headache of being a amazon seller was too much and this was 2018. Although they were getting a lot of buyers, it was just not profitable long term with the amount of work and money put in.

[DonaldTurner]

Matt is a bit difficult to listen too, but I highly recommend his substack. good reporting on this topic. Monopoly, or the fight against growing monopolization, is NOT a L vs. R thing. it affects us all!

[punditry]

Wow! Thanks for this. It certainly explains why it had been so difficult to find the product I was looking for on Amazon that I would give up. If fact, I now consider Amazon the “merchant of last resort” that I only try when I can’t seem to find a product locally (or on other e-commerce sites).

But it really makes my blood boil to have now learned that even if I don’t use Amazon, the price I pay for a product is likely to be inflated if that merchant sells their product on Amazon. That certainly sounds like anticompetitive monopolistic behavior to me.

The only question is whether our government will do anything about it. I’m not holding my breath. 😕

[Scoots]

Amazon also dramatically reduced the cost of shipping by building an incredibly expensive network of warehouses, trucks, vans, trains, and planes.

[lSeKToRl]

As someone who buys specialized products from Amazon and has spent dozens of hours hunting for said products. Amazon removes tools from buyers so it can guide you to the sellers they want you to buy from not the one with the best product or price. The tools on the left side of the page dissapear for certain categories and when sorting by price some products dissapear entirely.

[kanders]

Amazon’s one true customer is China. Its the only Foreign country that has direct access to American shoppers through the American Amazon site. And China sells massively on American Amazon.

[nickthompson]

Seems many of these commenters don’t understand the reach and scope Amazon has. They own AWS, Kiva (now Amazon Robotics), Whole Foods, Twitch, Ring, the list goes on. They have their hands in everything.

[Adroit]

I've always boycotted Amazon. I've never worked for or spent money on any of their products. That business has always evil

[glenjo]

Thanks Matt! Amazon is (as Matt Taibbi phrased) the vampire squid of American retail.

[kandiwelch]

Yes! This will actually help create competition. First Amazon next Apple!

[JM-vytl]

Matt and Max always bring great content! Thanks!

[WowRixter]

I hate using Amazon and only use them if a retailer only sells on their platform