Wall Street Apes@WallStreetApes
Michigan Senator Mallory McMorrow reveals companies are using dynamic algorithmic pricing to charge Americans more based on your data
She says this is even being used to increase rents
- A $240 flight to Florida increased to $423 because you looked twice
- Uber pricing doubled because phone battery was below 20%
“Usually it's about 18 bucks, but oh, the app knows that your phone battery is low, so it's double the price.
Companies are using algorithmic pricing tools to study your personal data and charge you exactly what they think you'll pay.
This is called surveillance pricing, and it means that companies can charge you completely different prices for the exact same thing, and it's not just happening to consumers.
Some companies are now using similar algorithms to track workers and decide their wages, hours, and schedules, even their locations
— My plan bans companies from setting personalized prices based on your data — It protects all workers, including gig workers and contractors from algorithmic wage discrimination, and it cracks down on companies using these systems to coordinate things like higher rents and insurance premiums, because the economy shouldn't be a rigged game.”
