DNA testing firm 23andMe files for bankruptcy

Comments

• bluegreenwookie@bookwormstory.social ⁨1⁩ ⁨year⁩ ago

  I am so glad i never used the kit my dad got me. I had a suspicion this would happen sooner or later

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• ShinkanTrain@lemmy.ml ⁨1⁩ ⁨year⁩ ago

  US people should get ready to be denied even more healthcare

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• MinorLaceration@lemmy.world ⁨1⁩ ⁨year⁩ ago

  Reminder that you can download and save your data locally then revoke your consent agreements and delete your data. Who knows if it will actually be deleted though.

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  • phoenixz@lemmy.ca ⁨1⁩ ⁨year⁩ ago

    Yeah good luck with that.

    I doubt they’d actually delete data now. Who are you going to sue if they don’t? They’re bankrupt and they’ll just pull a “oh we forgot to delete it!”

    They need these samples and data to be sold off to pay off a lot of groups so I honestly don’t believe they’ll delete anything

    If your brother or even cousin did a test it’s about good enough to be applied to you too for a lot of cases so yay, so much fun about human DNA databases now being available to the highest bidder.

    Who would bid? Maybe America’s new Nazi’s would like an insight in their racial purity? So many fun ideas!

    That company should be burned down to the ground

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    • psycho_driver@lemmy.world ⁨1⁩ ⁨year⁩ ago

      That company should be burned down to the ground

      Seems like they did a pretty good job of burning themselves to the ground.

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  • jaybone@lemmy.world ⁨1⁩ ⁨year⁩ ago

    Pepperidge Farm remembers

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• CitricBase@lemmy.world ⁨1⁩ ⁨year⁩ ago

  How on Earth did they manage to fuck this up?

  They were the leading firm in a field where having the most data makes yours the most accurate tests. Their product sold for hundreds of dollars a pop, with practically zero marginal costs to run the tests. And they were really popular, selling like hotcakes.

  It’s insane just how astoundingly incompetent upper management can be sometimes.

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  • Ledericas@lemm.ee ⁨1⁩ ⁨year⁩ ago

    They were being sued in the past for privacy breaches, they probably are in more trouble financially n than what’s being reported?

    Apparently they were just there to sell your genome data once you submit it, also there’s no repeat customers since once you get your results you aren’t going to get another one.

    This article explains it better"standard.co.uk/…/23-and-me-dna-test-collapse-b121…"

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    • slaacaa@lemmy.world ⁨1⁩ ⁨year⁩ ago

      Good article. It was fundamentally not a good business model. You have to acquire new customers constantly just to keep the lights on, it’s unsustainable. Adding on top of that the experations from investors to grow every year, and the collapse we see now is guatanteed.

      I see they tried to diversify, that could have helped, but without a recurring revenue stream at the core of your business, you cannot become the big company they wanted to be.

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    • DandomRude@lemmy.world ⁨1⁩ ⁨year⁩ ago

      Yes, just terrible management. You could have just made good money, but no, there has to be more. So excessive greed at any price - now it’s just bankruptcy. But I’m sure that won’t bother the senior management: they’ve already put their millions in a safe place and will simply move on. The next company that needs their outstanding business management is bound to come along…

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  • meliante@lemm.ee ⁨1⁩ ⁨year⁩ ago

    No returning customers, due to the nature of the business. It’s dead from the start.

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    • cactusupyourbutt@lemmy.world ⁨1⁩ ⁨year⁩ ago

      people get born every day

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    • Voroxpete@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

      I’m not sure what would make you think the “customers” for an enormous DNA database were the people providing the DNA.

      Those people were just paying to be the product.

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    • CitricBase@lemmy.world ⁨1⁩ ⁨year⁩ ago

      It can’t be just that, right? There are loads of successful products that any given person only ever buys once.

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• red_bull_of_juarez@lemmy.dbzer0.com ⁨1⁩ ⁨year⁩ ago

  Well, I’ve always been curious what a ruthless person would do with all that DNA data. I’ll finally find out.

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  • tooting_lemmy@lemm.ee ⁨1⁩ ⁨year⁩ ago

    Church of Latter Day Saints will probably buy it. They believe they can convert the dead.

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    • acosmichippo@lemmy.world ⁨1⁩ ⁨year⁩ ago

      why do they need DNA for that?

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    • jaybone@lemmy.world ⁨1⁩ ⁨year⁩ ago

      They can’t possibly be that stupid. I’m sure they have more sinister plans for these geneology databases. My first guess would be blackmail. But I’m guessing they have a ton of other evil ideas.

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• some_dude@lemm.ee ⁨1⁩ ⁨year⁩ ago

  I wonder who they will sell their data to

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  • harrys_balzac@lemmy.dbzer0.com ⁨1⁩ ⁨year⁩ ago

    Mormon church seems like a good candidate.

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  • ExLisper@lemmy.curiana.net ⁨1⁩ ⁨year⁩ ago

    ICE

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  • seeigel@feddit.org ⁨1⁩ ⁨year⁩ ago

    The Saudi investment fond. It’s a perfect complement for that Pokemon Go data.

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    • slaacaa@lemmy.world ⁨1⁩ ⁨year⁩ ago

      happy chopping sounds l

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    • voodooattack@lemmy.world ⁨1⁩ ⁨year⁩ ago

      I hear they’re quite fond of it

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  • acosmichippo@lemmy.world ⁨1⁩ ⁨year⁩ ago

    facebook

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