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Rizzle
  • 1 day ago
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00:00Amazon slapped with a $2.5 billion fine for Prime shenanigans.
00:05Jeff Bezos's empire just got slapped with a reality check that costs more than most
00:09countries GDP.
00:11Amazon agreed to fork over a whopping $2.5 billion to settle Federal Trade Commission
00:16claims that they've been playing dirty pool with Prime memberships.
00:21And honestly, it's about damn time.
00:23The FTC basically called Amazon out for being subscription scumbags, using shady dark patterns
00:29to trick customers into Prime memberships, and then making it harder to escape than a
00:33David Blaine magic trick.
00:35We're talking about 35 million customers who got bamboozled, each getting roughly $42.86
00:41back.
00:42The settlement breaks down to a cool $1 billion civil penalty plus $1.5 billion in customer
00:47refunds.
00:48For context, Amazon pulled in $59.2 billion in net income last year.
00:54So this is basically pocket change for them.
00:56But hey, at least it stings a little.
00:59The real victory here isn't just the money.
01:01Amazon now has to completely overhaul their subscription game.
01:05No more of those BS buttons that say, no, I don't want free shipping.
01:09They're required to add a clear and conspicuous decline button and make cancelling as easy
01:14as signing up.
01:15FTC chairman Andrew N. Ferguson called this a record breaking monumental win.
01:20And honestly, he's not wrong.
01:22Amazon also agreed to pay for a third party monitor to babysit their compliance because
01:26apparently we can't trust them to play nice without supervision.
01:29There are two other bars that say, no, I don't want to trust them, they can't trust them.
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