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Category

😹
Fun
Transcript
00:00If you're a renter, there's a good chance you've been a victim of illegal price fixing.
00:05In January 2025, the Department of Justice sued six of the largest landlord companies
00:10for using an algorithmic software called RealPage to illegally collude
00:15and artificially raise rental prices across the country.
00:18According to long-standing U.S. law, competitors are not supposed to get together
00:23and secretly agree to raise prices in tandem.
00:26But thanks to technology, they can let an app do the illegal price fixing for them.
00:31Since they all subscribe to the same automated pricing software,
00:35the algorithm does all the dirty work.
00:37According to former Assistant Attorney General Jonathan Cantor,
00:41the modern machinery of algorithms and AI can be even more effective
00:45than the smoke-filled rooms of the past.
00:47Algorithms can make coordination among competitors easier.
00:51Hopefully, this federal lawsuit will end the practice,
00:54but AI is only getting smarter and its decisions more cloaked in complexity.
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