News @lemmy.world JustAManOnAToilet @lemmy.world 10 mo. ago

23andMe is low on cash and its stock is worth pennies. The CEO wants another chance | CNN Business

www.cnn.com 23andMe is low on cash and its stock is worth pennies. The CEO wants another chance | CNN Business

Just three years ago, DNA testing company 23andMe was the golden child of Wall Street and Main Street. Today, the company is struggling to remain listed on the Nasdaq.

59 comments

Doesn’t help that they immediately updated their user agreement to avoid responsibility. Nothing says give our product a chance like that.
- Honestly, even with really shitty notoreity and legal troubles, stock prices don't reach pennies without gross mismanagement of shares and offers.
  
  Or have they just been unprofitable every quarter for years?
I don't trust them or anyone else with my data, let alone my DNA
- Well someone's not getting reborn 200M years from now in Cenozoic Park.
  
  Dun dun! Dun duuun! Dun-da daaa da-dun dun daaaah! flails silly human arms RAAAH!!!
  
  "They do move in herds!"
  
  That's why I prefer to let mosquitos bite me.
- that stuff that you breathe out, slough off and leave literally every places youve ever been? yeah, need to keep that under wraps.
  
  Except that leaving it somewhere is like a pseudonym. It would take a lot of effort to pinpoint to once specific person unless that person was already the sole target - then you just get a sample at their home.
  
  Also, breathing out DNA?
  
  Disingenuous at best
Refreshing to have some sort of consequences for being negligent with people's data
- Too bad the consequences are not prison.
  
  Hear hear
- No, they’ve been heading south for years. I would have loved for it to be a drop in response to the data breach, but this was just a company that was run incompetently.
- Which data were they negligent with? I thought it was breaches on other sites that gave reused passwords.
  
  Credential stuffing is a well understood part of the threat landscape that 23 and me negligently failed to account for, allowing hackers to access 7 million people's info after hacking only 14 thousand users.
  
  There are still all kinds of things a company can do to mitigate at least some of this. New browser, new location, forced two-factor auth, etc.
Awesome, now your genetic data will be sold to highest bidder
- You think it's not already?
  
  If you read the article, they partner with GSK. So it's probably only going to them, not the open market. They openly say they're researching genetic meds.
  
  It wasn't only because they didn't need to buy it. They stole it instead
But hey, at least they got to expose their Jewish customers to Nazis before they went under...
For your entertainment:
- If only they allowed more decimal points they could have been at 0.69420 !
  
  Forward this to Elon Musk and he will make a buyout offer at that price.
Get ready for that data to be sold.
- That's pretty much been their business model from day 1. If they didn't plan to sell it, there was no reason for them to keep it.
  
  Yeah it was always going to come down to this. You can't make a lot of money on a business model that involves a selling something only once per customer. Eventually they were going to have to either charge money for data storage or sell what they had.
- Exactly why I never even considered dealing with those DNA companies. They're a privacy nightmare.
  
  You can reset your password a whole lot easier than resetting your DNA.
- Isn't it already?
Fuck this company.
"Oh no, the consequences of my own actions!" - The CEO, probably
- You think their self awareness is higher than I do
no
- But she's asking nicely...
It was always a scam. Glad they are dying.
It will be interesting to see what the company that buys all their data will do with it.
- Sell it to insurance companies for even more profit!
Every fucking sentence in that article is dripping with bullshit, right to the fucking retard telling people to buy the stock. Fuck all these people

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