4.2 • 3.5K Ratings
🗓️ 30 September 2023
⏱️ 49 minutes
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The Federal Trade commission sued Amazon this week, accusing it of monopolistic practices. This episode from our archive investigates how the Amazon Marketplace operates, who wins and who loses. James Thomson and Stacy Mitchell join Meghna Chakrabarti.
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0:00.0 | Well, I I'm calling one of the few that have like I love I fully and completely |
0:06.0 | Embrace Amazon. So I have this debate actually on my Facebook page my personal |
0:11.6 | Facebook page with friends and I said hey how many of you think when you shop |
0:15.2 | on Amazon that you're supporting a small business. People were like no you're |
0:20.0 | just buying from the big guy no it's just big so I'm like you're absolutely wrong |
0:24.3 | you're absolutely wrong. One time a malicious seller actually bought out all of |
0:32.0 | our inventory so we had nothing to sell and then at the end of the season once |
0:35.6 | it was over they returned everything. So not only do we not make any money but we |
0:40.1 | lost out on all the revenue for the holiday season as well. I'm just guessing |
0:43.8 | that it was a competitor who else would buy you know like a hundred dozen |
0:47.3 | napkins right and then just return them. You've got large competitions selling |
0:52.4 | lower prices with levels of convenience you can't deliver versus a community |
0:58.1 | minded small business who is building community in both economic and |
1:02.3 | non-economic ways and that's something that Amazon is working really hard to |
1:07.5 | erase. This is on point a Magna Chakrabardi and we've arrived at episode three of |
1:13.9 | our series Amazon the Prime Effect where we're examining how Amazon is |
1:19.1 | changing everything about how we live work and shop. In 2018 more than |
1:28.3 | 275 billion dollars of goods were sold on Amazon for products Amazon sells |
1:34.2 | itself and third-party sellers who use the platform. Collectively it's all |
1:39.8 | called Amazon Marketplace. There are about two million independent small and |
1:45.6 | medium-sized businesses that sell through Amazon. In 2020 Amazon made at |
1:51.2 | least 80 billion dollars on those service fees alone. So today we're looking at |
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