This podcast investigates allegations of price-fixing in the frozen potato industry, focusing on four companies controlling 97% of the market. The discussion begins with a bar owner's viral tweets highlighting suspiciously similar price increases, leading to multiple lawsuits alleging collusion facilitated by a data-sharing platform called "PotatoTrack." Experts discuss how this case exemplifies a broader trend of companies using algorithms to manipulate prices across various sectors, including apartments and hotels. The interview concludes with a Senator discussing proposed legislation to address this issue, highlighting the inadequacy of existing antitrust laws in the face of sophisticated algorithmic price-fixing. The podcast underscores the need for updated legislation to protect consumers from hidden price manipulation.
