How Your Data DRIVES Corporate Price-Gouging
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- Опубліковано 12 чер 2024
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Live-streamed on June 4, 2024
David Dayen joins MR to examine how companies play with prices, mixing market power, tech, and pandemic fallout. Dive into the dark world of personalized pricing based on your data, gaps in rules and what it means for your wallet.
David Dayen is the executive editor at The American Prospect.
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When Emma mentioned not noticing seeing ads for something she buys, this applies to what you talk about around your smartphone. You could talk about someone and see their UA-cam channel show up in your recommendations, or talk about a product and see ads for that product. I've told my dogs to go poop, and then get ads about dog food to help them poop. It's insane, and needs regulated ASAP.
Me too, it's incredibly creepy and does NOT move me to buying a product.
Ok but the dog poop one actually sounds helpful. Like if I receive targeted ads for products that would actually help me, I wouldn't feel so disgusted by it. But no one is designing logic/processes to identify products that would optimize a consumer's life. They design them for sellers to try to push their crap onto consumers regardless if they actually want or need it.
@@qataripekarsky Wouldn't it be great if we could just streamline the whole "sell me as much as possible" thing by letting them implant chips in our brains to immediately try to sell us all our needs and wants? Sounds "optimized"... if your goal is to either consume endlessly or get profits endlessly... I really don't think this is good, even if there are instances where it might remind you of something you want. Imagine if a soliciting salesperson immediately knocked at your door to sell you something everytime you mentioned something you needed, butost likely just wanted, is this really what we want but just in digital form?
@@qataripekarsky Its usefulness does not excuse a private corporation spying on you without your consent, listening to your every word and using your private conversations to figure out ways to get money from you. That data is also susceptible to being stolen or sold to others, putting your safety at risk.
Or when you meet someone on a dating app and they show up as people you may know on Facebook right after.
Capitalism has become SO damn toxic.
This isn't capitalism, it's government corruption. Free markets tend to drive prices down, because companies have to compete with each other. I'm not going to raise my pizza prices higher than I need to make a profit, because you could keep your prices low and take all my business.
capitalism has not changed how it functions.
the incentives are the same then as they are now, effectively.
Still better than the toxicity under communism.
@@markd.s.8625 This economy makes more Marxists everyday.
People changed their thinking. It used to be a communal share of the winnings through taxes and wealth redistribution with there still being super rich people, now it's a race to see who can gobble up the most to be the richest of all. Basically people discovered game theory, and invested in percieved zero sum games with no realization they might need to play games again in the future so winning by the most now is detrimental for future interactions with the same person. Also we raised generations of kids to prioritize money over life so they're sociopaths ready to do whatever to make more than the next person, and that is shown in corporate boards with 90% showing sociopathic tendencies in a study.
It's basically the early days of a cyberpunk dystopia
I keep telling people we're already living in a cyberpunk dystopia, the technology is just playing catch-up.
People go through so much already, with our every basic need commodified and monopolized. Now, they want to know everything they can about you so they can efficiently maximize how much they can exploit you on an individual level. Disgusting and dystopian.
100% agree. Everything’s so broken already it’s hard not to get demoralized
Someone should make an app where it obfuscates your data so that companies offer you the best price possible as much as possible. For example if companies know that you are less price sensitive when your battery is low on your phone then the app could "change" your battery level to 80%. The app should figure out all the ways that companies use your data to charge you more and just change the data so that it benefits you in the end.
Great idea. Data scrambler.
I love this idea. Twist the data to benefit you instead of corporations, or at least pollute the data they collect on you so it becomes useless and worthless.
It is price discrimination and it’s baked into the algorithm, these companies are responsible. They’re the ones that create the algorithm and tell it what to do.
Goddamn. The Dunkin App gives me an offer every Monday morning just when I'm getting out of work because that's the only morning I ever stop in, and I thought it was just a weird coincidence that they advertised as I was getting out of work.
Great story on these data fuckers.
Good folks of TMR, thank you so much for this interview and discussing subjects like this fleshing out how tech, culture, politics and legislation intersect. It's all incredibly interesting and informative. As a Canadian myself, this info can be quite relevant because many U.S. corporations are in fact global and have similar insidious practices they attempt to impose on us as well, despite whatever different legislative nuances our countries may have. Please keep doing more of these types of pieces, they are greatly appreciated!
I've said it before....our phones are trying to kill us.
i was going to say, not my landline, except then i remembered how many spam calls i get and, inevitably, i am either asleep or in the bathroom when the phone rings so ya, our phones are trying to kill us
Know what helps fix the price gouging, actual competition so they have to try to keep prices low to beat the competition. Invest in everyday Americans like we used to, not just the billion dollar brands.
Great interview
Great report.
13:00 The Tim Horton's App does the same thing too when they administrator offers that happen every week.
we need more wizards capable of casting testicular torsion
This dystopia sucks man.
Emma don’t worry about not noticing such things, these companies are pulling mafia-style business dealings that nobody could have predicted in the 2010’s. That was literally the era of our debit cards getting EMV chips, and the best filter was the floral headband on Snapchat.
I worked in a grocery store for five years. I hated those Catalina coupon printers. If something was wrong with them they would beep every 30 seconds until the were working but besides changing the paper or ink tape there was nothing we could do. It it was a writeup if you were caught unplugging them.
One thing that bothers me with the outro is that the daily show is advertised to be daily. It seems redundant. One would expect a daily show to be daily.
Walmart bought Vizio a number of years ago. I read about this even before I bought my own first Vizio smart TV. It made sense, because Vizio was the number one producer of Smart televisions, and had the most integrated new tech such as specific apps built into the TV itself, as well as very user-friendly intuitive remote controls. So I don’t know why he’s saying that they’re trying to buy them, they bought them back when I had bought my television in 2011. But aside from that good content.
7:10 The technical term is called rat ----ing.
Price gouging cringe 😬
Use cash
Why are you guys so late to this? I've had conversations in public that led to ads on my phone.
8:09 two people taking an Uber is not a “study”
It's funny when they bombard you with car deals after buying one as if you haven't spent all you had on your purchase...
8:35 Or maybe carry one of those portable power banks so that you can charge your cell phone whenever wherever. Then there is no urgency.🤔
So, should we have bespoke corporate taxes now too?
12 eyes!
That said, very informative discussion. Lessons learned: use cash, never sign up, stay anonymous.
Pepperidge farm remembers 🧐
Left is best.
What do you want??
Information!
You won't get it.
By hook or by crook, we will.
I have spent tens of thousands of dollars on Amazon in the past 15 years, they still price on their movies and I’m waiting on a settlement for their promised ship bullshit
Their movies are cheap as hell, you can watch something at home for $10 that used to cost you at least that plus concessions if you went to the movies to see it.
@@LurchFetterman wow it's cheaper to watch at home than to go to the movies, something that has been true since VHS rental stores first opened up? Amazing! Thank you Amazon!
It’s just sad. It’s not smart. It’s not cunning. It’s not even innovative. It’s just so god damn pathetically cringe.
I’d be a lot more mad if it wasn’t for such a cringe reason. The richest people and companies in the world want more money by such a small margin? It’s so cringe!!!
Honestly I’m not sure I see the problem here. If fast food chains can get people to pay more so be it. Just make sure the market is competitive by enforcing antitrust laws.
So first it was Covid-19 then Ukraine. And now the new update for the lie. It's bec of companies out of nowhere asking for higher prices 😂😂😂😂.
But remember. If it's fixed it's because of them .
I never get bored watching you!
We gave up on ourselves. Its the oven for anyone who doesnt look like trump. Just give up.