So the fine for price fixing is $100M and Amazon is worth $2 trillion so that’s like 20,000x bigger than the fine. I think they will survive this one gang
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Amazon NUTTED 🤤🤤🤤🤤🤤
They're BUSTED when someone goes to prison.
Bezos was a hedge fund manager. This should surprise nobody.
Bezos was a Senior VP by the age of 30, working for D.E. Shaw, and was a rumored heir for taking over the business after he retires. Bezos would have made billions and managed a major hedge fund. Set for life.
But that was not enough for him, he wanted to hoard hundreds of billions of wealth instead, so here we are. How perfectly healthy and in no way a mental illness.
There was a time when Amazon was not full of scummy rip-off products, when it was not playing games with prices, when it was not a cloud-computing powerhouse, and you know what happened?
That's right, they crushed their adversaries (retail shopping) and earned billions in profits. They won.
But somehow that's not enough winning, there isn't enough winning until all the value has been vacuumed up from the world.
Bezos explicitly undercut the competition for years to drive all of the competition out of business. Amazon took as much time from 1997-2016 to make as much profit as they did in 2017, which is also (not) coincidentally when they hit peak market saturation and were able to start raising their prices.
So what you're talking about was real, but it wasn't like, "back when Amazon was good", they were just preparing for what they are now. Having a huge monopoly on just about everything has always been their win condition, and they're no where near done winning.
Yeah. It's the same thing Uber did with pushing cab services out of business.
Not only that, but AWS is the real money maker for them. Not that retail and gaming and prime and whatever don't also make boat loads of cash, but it doesn't even graze AWS. The scale of these data centers is unreal and most of the internet runs on AWS.
I'm an industrial electrician with background on what they're ordering and installing in terms of control panels and if you saw the weekly shipments it'd make you sick. And we're only one supplier, they have others.
The other commenters here are right about Amazon's initial methods, but I'm also going to highly recommend Cory Doctorow's Enshittification for a detailed explanation of how this happens (including a breakdown on Amazon specifically) and what to do about it.
It's easy to crush the competition when you purposely take a loss as an investment in future market share.
To quote a favorite singer of mine,
You could fill a man with gold, and still have room for greed.
I've been telling people to stop supporting amazon for years, but everyone seems to have their reason to keep supporting them. This hopefully will be a good enough reason for people to finally stop shopping on amazon.
I haven't bought anything from amazon in over 12 years. I find everything on the manufacturer's website or eBay. No need to ever use amazon for anything.