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Here's the latest tech news from the last 24 hours:

💸 Amazon's billion-dollar secret price algorithm
🍎 Apple considered switching private default search engine to DuckDuckGo
☁️ UK probes Amazon & Microsoft for cloud market dominance
🤖 CEO roasts the employees he replaced with ChatGPT
🌙 This AI company wants to help you control your dreams

💸 Amazon's billion-dollar secret price algorithmLINK

The Federal Trade Commission filed a lawsuit against Amazon, alleging the online retailer illegally maintained a monopoly through a secret algorithm known as "Project Nessie," which was used to manipulate competitor pricing.

Sources revealed that Amazon allegedly made over $1 billion in revenue from the algorithm, which indirectly led competitors to increase their prices, disrupting natural market functions.

Despite stopping the use of the Project Nessie algorithm in 2019, the FTC continues to push for public visibility of Amazon’s alleged monopolistic practices, while Amazon counters that the FTC misunderstands retail market dynamics.

🍎 Apple considered switching private default search engine to DuckDuckGoLINK

Apple had discussions with DuckDuckGo about replacing Google as the default search engine in Safari's private browsing mode.

Testimonies related to these discussions from DuckDuckGo’s CEO Gabriel Weinberg and Apple executive John Giannandrea are set to be released later this week.

This move comes amidst allegations that Google has been paying billions to remain the default search engine, preventing competitors like DuckDuckGo and Microsoft's Bing from gaining users.

☁️ UK probes Amazon & Microsoft for cloud market dominanceLINK

The UK's competition watchdog (CMA) is investigating Amazon and Microsoft's cloud services due to mounting concerns about their dominant position in the market.

Both firms hold a significant share in the UK's cloud market, with barriers such as egress fees, discounts incentive, and technical barriers making it challenging for customers to switch providers.

The CMA's investigation, set to conclude by April 2025, could lead to recommendations to the government or implementation of remedies to increase competition in the sector.

🤖 CEO roasts the employees he replaced with ChatGPTLINK

Suumit Shah, CEO of Indian e-commerce platform Dukaan, replaced most of his customer service team with an AI chatbot.

The move could lead other companies to follow suit, potentially resulting in significant job losses, particularly in countries like India and the Philippines.

Shah has since developed a product aimed at assisting other companies transition to using chatbots instead of human employees.

🌙 This AI company wants to help you control your dreamsLINK

Prophetic is a tech startup co-founded by Eric Wollberg and Wesley Berry, aiming to create the world's first wearable device for stabilizing lucid dreams, called "Halo".

The company has raised $1.1 million funding and it plans to showcase a semi-working prototype by November, but full tests will not be completed until late 2024.

The startup hopes to begin shipping its device in spring 2025, aspiring to contribute to a better understanding of consciousness through technology.

Other news you might like

"Facebook Messenger's AI-generated stickers are being misused, creating and sharing unexpected, potentially copyright-breaching images, despite Meta's implemented infractions filter."LINK

"X removed headlines from link previews, an Elon Musk initiative, to encourage users to generate more original, long-form content directly on the platform."LINK

Neurotech startup Precision Neuroscience has bought a Dallas factory to expedite in-house production of its innovative brain implant's key component, targeting regulatory approval by 2024.LINK

"BlackBerry plans to separate into two entities focusing on IoT and cybersecurity, intending to increase operational agility and customer focus."LINK

Tokyo-based startup Tsubame Industries unveiled Archax, a $2.7 million, 14.8 feet tall, pilotable robot targeting the ultra-wealthy, with potential applications in space and disaster recovery.LINK

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