Posted on 10/04/2024 9:21:30 AM PDT by BenLurkin
Shares of 23andMe are now worth pennies. The company’s valuation has plummeted 99% from its $6 billion peak shortly after the company went public in 2021.
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What is the company’s plan for all the data it has collected since it was founded in 2006?
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When signing up for the service, about 80% of 23andMe’s customers have opted in to having their genetic data analyzed for medical research.
The company has an agreement with pharmaceutical giant GlaxoSmithKline, or GSK, that allows the drugmaker to tap the tech company’s customer data to develop new treatments for disease.
...HIPAA, does not apply to 23andMe since it is a company outside of the health care realm.
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Although DNA data has no federal safeguards, some states, like California and Florida, do give consumers rights over their genetic information.
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23andme says it will not let law enforcement search its database
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Kill said the company does not allow law enforcement to search its database.
The company has, however, received subpoenas to access its genetic information.
According to 23andMe’s transparency report, authorities have sought genetic data on 15 individuals since 2015, but the company has resisted the requests and never produced data for investigators.
“We treat law enforcement inquiries, such as a valid subpoena or court order, with the utmost seriousness. We use all legal measures to resist any and all requests in order to protect our customers’ privacy,”
(Excerpt) Read more at npr.org ...
>> What is the company’s plan for all the data it has collected since it was founded in 2006?
(cough cough china cough)
Highest bidder. That’s their only asset.
Yeah, no.
(cough cough CIA cough)
I’m thankful I am a “pureblood”, and equally thankful that I have never pulled down my genes for 23AndMe or any of the other genetic data scavengers so they could have their way with me.
Wouldn’t ank white knight rescue buyer or bankruptcy administrator insist on selling the data base to the highest bidder, free of any restrictions? Can a privacy pledge by the current company survive dissolution bankruptcy? Can a judge break that over creditor demands?
I remember all the commercials a number of years back. My experience has been that the hard sell is usually a red flag something isn’t kosher.
That data is much too valuable to be left alone. The only question is which government agencies will be in on the steal.
(is there a difference? LOL)
Bill Gates or the Chinese will buy it.
What happens to all its DNA data?
~~~
It’s safe and sound in China... already.
Not much these days.
That’s a company that screamed ‘front’ from the second I heard of them..
>> Yeah, no.
When did America collectively become so naive and credulous? Breathtaking.
A nigerian prince will sell it back to you.
Drug companies, governmental agencies, both domestic and foreign will continue to bombard 23andMe with offers of money. Eventually, they will weaken, take the money and walk away as ‘Zillionaires’.
They collected all they needed.
china already has the database.
I wonder if someone could get all the DNA assets and use them to solve crimes.
Quite a few longtime cold cases have been solved using evidence collected years ago, using modern DNA testing and genealogical information to narrow down the suspects to people in one family
The Golden Gate killer case was solved this way
Sell their services to law enforcement around the country for a reasonable price to solve old cold cases
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