FTC accuses Amazon of using secret algorithm to raise prices and test competitors, sparking social media outcry

The Federal Trade Commission (FTC) has claimed that Amazon used a secret algorithm called "Project Nessie" to raise prices and test whether competitors would follow suit. The algorithm was allegedly used to see how much Amazon could increase prices without losing customers. The FTC has included redacted portions of this information in their monopoly lawsuit against Amazon. The lawsuit accuses Amazon of using this algorithm to engage in anti-competitive behavior. This news has gained attention on social media, with many users sharing the story and expressing their concerns about Amazon's pricing practices.