3 ms·
We've moved well beyond the traditional monopoly like Standard Oil. We moved onto conglomerates: about everything you buy comes from like ~8 conglomerates. We t
by jmyeet 2y ago
We've moved well beyond the traditional monopoly like Standard Oil. We moved onto conglomerates: about everything you buy comes from like ~8 conglomerates. We then recognized the user of market power for an effective monopoly (eg Paramount [1]).
So what we have now is a whole bunch of landlords who largely all use the same software. That doesn't sound illegal. Now if it happens to spit out the same results for all the users, that's one thing (and problematic all on it's own). But the allegation here is that landlords bought into and use the software knowing this would be the outcome.
This is just an evolution of the old cartel of 10 or so CEOs scheming to fix prices in a dark cigar-filled room except now companies attempt to remove their own responsibility by waving their hands at The Algorithm [tm].
[1]: https://en.wikipedia.org/wiki/United_States_v._Paramount_Pictures,_Inc https://en.wikipedia.org/wiki/United_States_v._Paramount_Pic....