New legislation in Congress aims to tackle a financial burden weighing on millions of households -- rent that is too damn high, as one NYC activist famously claimed.
The legislation introduced by Klobuchar, called the “Preventing Algorithmic Collusion Act,” would require rental companies to disclose if they are using algorithms to set rents. And it would direct the Federal Trade Commission to study how these algorithms are affecting competition.
So it doesn’t actually do anything.
No fines. No actual outlawing of algorithmic price control.
It just forms a study group.
It is litetally the meme of ‘lets form a committee to study the problem so that in 5 years we can propose a minor change and then means test that for 10 years.’
…ooook.
So, even in the unlikely event this passes:
So it doesn’t actually do anything.
No fines. No actual outlawing of algorithmic price control.
It just forms a study group.
It is litetally the meme of ‘lets form a committee to study the problem so that in 5 years we can propose a minor change and then means test that for 10 years.’