Algorithmic collusion appears to be spreading to more and more industries. And existing laws may not be equipped to stop it.
  • conciselyverbose@sh.itjust.worksEnglish
    0·
    3 months ago

    The lawsuits also argue that RealPage pressures landlords to comply with its pricing suggestions—something that would make no sense if the company were merely being paid to offer individualized advice. In an interview with ProPublica, Jeffrey Roper, who helped develop one of RealPage’s main software tools, acknowledged that one of the greatest threats to a landlord’s profits is when nearby properties set prices too low. “If you have idiots undervaluing, it costs the whole system,” he said. RealPage thus makes it hard for customers to override its recommendations, according to the lawsuits, allegedly even requiring a written justification and explicit approval from RealPage staff. Former employees have said that failure to comply with the company’s recommendations could result in clients being kicked off the service

    Holy shit that’s blatantly cartel pricing.

  • Zarxrax@lemmy.worldEnglish
    0·
    3 months ago

    Headline talks about AI, article talks about algorithms. Chasing that click bait I see.

  • Djtecha@lemm.eeEnglish
    0·
    3 months ago

    The issue here is when they get sued into oblivion it doesn’t matter. The damage has been done and the state never goes after their personal riches. Wake me up when the ceo goes to jail or has all their property seized.