On questioning by Representative Joe Neguse (D-CO), who is also the vice-chair of the subcommittee on antritrust, Amazon founder and CEO Jeff Bezos conceded that Amazon accounts for 40% of “online retail sales in the e-commerce market stream”. In his prepared testimony, Bezos had said, “Amazon accounts for less than 1% of the $25 trillion global retail market and less than 4% of retail in the US”, characterising retail as everything — including restaurants, bars, gas stations, Neguse pointed out. At the Big Tech CEOs' hearing before the House subcommittee on antitrust on July 29 (available to watch here), multiple revelations were put on the record about Amazon and its anti-competitive practices. As both the marketplace and a seller, Amazon is in fundamental conflict of interest: “Isn’t it an inherent conflict of interest for Amazon to produce and sell products…
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