Jul 27, 2020 16:00:00

Amazon is robbing technology by the method of ``Investing in startup and seeing confidential information''

by

Canonicalized

There was an opinion that pointed out the similarity between Amazon and the 19th century 'robber baron', but new companies successively funded by Amazon 'requested disclosure of confidential information, After that, it became clear that there was a voice saying that a competitive product was created.

Amazon Met With Startups About Investing, Then Launched Competing Products-WSJ
https://www.wsj.com/articles/amazon-tech-startup-echo-bezos-alexa-investment-fund-11595520249

Companies Say Amazon Accessed Proprietary Info | PYMNTS.com
https://www.pymnts.com/amazon/2020/report-companies-say-amazon-accessed-proprietary-info-to-make-its-own-products/

The data platform for artificial intelligence ' Defined Crowd ' is a startup funded by Amazon in 2015. According to DefinedCrowd CEO Daniella Braga, Amazon now has access to 90% of DefinedCrowd's shares and access to its financial and confidential information.

After that, Amazon started offering a service called Amazon A2I in 2019, but Mr. Braga says that the service provided by Amazon A2I competes with one of the Defined Crowd's basic products. ``After seeing the Amazon A2I announcement, we raised more capital and diluted Amazon's stock to limit access to data from Amazon,'' Braga told The Wall Street Journal. It was

Braga is not the only person to have such an experience. Living Social, an e-commerce service provider, also received an investment from Amazon in 2010. Amazon has acquired a 30% stake in LivingSocial and has requested that LivingSocial disclose its data. Shortly thereafter, it became clear that Amazon is offering a service similar to Living Social on better terms.

Investors Jeremy Levine responded to Amazon's behaviour, saying, 'They use the power of the market in a manner of machiavellism . It is a wolf wearing wolf skin.'

On the other hand, Amazon spokesman Drew Hardner said, 'Unfortunately, there are self-reliant people who complain rather than make things.' 'Disputes over ownership of intellectual property are justified in court Will be resolved.'

In April 2020, Amazon was accused of 'obtaining independent vendor data and selling competitive products.' More than 20 current and former employees who have filed accusations admit that these policies have been violated.