Forums Forums - Off Topic Forum FUN

Go Back   Forums Forums - Off Topic Forum FUN > Off Topic Forums > Rants and Raves Forum

Rants and Raves Forum Rant on! Rave on!

Thread Tools Search this Thread Display Modes
Old 07-24-2020, 01:25 PM
Melensdad's Avatar
Melensdad Melensdad is offline
Jerk in a Hawaiian Shirt

Join Date: Sep 2005
Location: Indiana
Posts: 36,499
Thanks: 2,809
Thanked 11,652 Times in 4,526 Posts
Melensdad has a spectacular aura aboutMelensdad has a spectacular aura about
Thumbs down AMAZON met with small companies, then created competing products

Under the guise of investing in the fledgling start up companies it appears that Amazon had other plans. Rather than investing, Amazon took their ideas and created their own products.

I'm all for capitalism but it strikes me that there is some level of foul play here that needs to be punished.

Of course, if you dig down deep enough into the article, Amazon claims it does not use confidential information divulged in their meetings. Of course. Hmm?

Here is part of the story, follow the link above for the full story.
When Inc.’s AMZN venture-capital fund invested in DefinedCrowd Corp., it gained access to the technology startup’s finances and other confidential information.

Nearly four years later, in April, Amazon’s cloud-computing unit launched an artificial-intelligence product that does almost exactly what DefinedCrowd does, said DefinedCrowd founder and Chief Executive Daniela Braga.

The new offering from Amazon Web Services, called A2I, competes directly “with one of our bread-and-butter foundational products” that collects and labels data, said Ms. Braga. After seeing the A2I announcement, Ms. Braga limited the Amazon fund’s access to her company’s data and diluted its stake by 90% by raising more capital.

Ms. Braga is one of more than two dozen entrepreneurs, investors and deal advisers interviewed by The Wall Street Journal who said Amazon appeared to use the investment and deal-making process to help develop competing products.

In some cases, Amazon’s decision to launch a competing product devastated the business in which it invested. In other cases, it met with startups about potential takeovers, sought to understand how their technology works, then declined to invest and later introduced similar Amazon-branded products, according to some of the entrepreneurs and investors.

. . .

“They are using market forces in a really Machiavellian way,” said Jeremy Levine, a partner at venture-capital firm Bessemer Venture Partners. “It’s like they are not in any way, shape or form the proverbial wolf in sheep’s clothing. They are a wolf in wolf’s clothing.”

"We are fast approaching the stage of the ultimate inversion:
the stage where the government is free to do anything it pleases,
while the citizens may act only by permission; which is the stage
of the darkest periods of human history, the stage of rule by brute force."
- Ayn Rand
Reply With Quote
The Following 4 Users Say Thank You to Melensdad For This Useful Post:
baldy347 (07-27-2020), Doc  (07-24-2020), m1west (07-26-2020), mla2ofus (07-24-2020)
Old 07-24-2020, 03:11 PM
300 H and H's Avatar
300 H and H 300 H and H is offline
Bronze Member
Join Date: Jan 2010
Location: Iowa
Posts: 7,002
Thanks: 5,133
Thanked 4,658 Times in 1,662 Posts
300 H and H will become famous soon enough
Default Re: AMAZON met with small companies, then created competing products

I think on Capitol hill next week we will hear a lot more about this topic. ( I should sell their stock before then humm...} and from other tech giants as Congress is demanding answers to lots of questions.

If true Amazon should be sued by those they stole from. Something tells me a jury would not be very kind to Amazon either..

Regards, Kirk
Snow trac ST4 #267
Reply With Quote
The Following 5 Users Say Thank You to 300 H and H For This Useful Post:
baldy347 (07-27-2020), Doc  (07-24-2020), Jim_S  (07-24-2020), m1west (07-26-2020), mla2ofus (07-24-2020)

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Amazon shopper shocked over massive box used to mail small item Jim_S Junkman's Corner 7 03-28-2018 06:16 PM
How to Find Amazon Products at 99% Discount PBinWA Open Forum 0 09-25-2011 01:33 PM
When God Created Fathers Doc Open Forum 1 06-18-2007 07:47 AM
One day, God created the dog and .... bczoom Junkman's Corner 2 06-13-2007 08:25 PM

All times are GMT -4. The time now is 08:58 AM.

Powered by vBulletin® Version 3.8.9
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
Copyright © 2002 - 2020