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Independent directors of 23andMe resign from board

investors.23andme.com

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Re: Independent directors of 23andMe resign from board

#131

Post by alfanick »

xyst wrote: post #55
dr_dshiv wrote: post #32

Earlier quoted context omitted.

Ok, please share more! Who responded and who didn’t?

I’m not parent comment but have received e-mail from Apple (Tim Cook and Steve Jobs), and T-Mobile (John Legere era). It wasn’t personal emails but rather their assistants. Still a nice touch and issues were always resolved where L1-2 support failed.

Years ago, after months of pushback from Apple Authorised Service Provider I decided to write an email to Tim Cook... Got a phone call soon after straight from HQ and my issue was resolved - it's sometimes worth to escalate high up if the situation is absolutely out of company values

Re: Independent directors of 23andMe resign from board

#134

Post by itake »

typeofhuman wrote: post #70
jonstewart wrote: post #9

They also just settled a class-action lawsuit stemming from their data breach: https://www.bleepingcomputer.com/news/security/23andme-to-pa...

I think data-breaches could carry the death penalty for companies. I just got a notification from some health services company that my and my toddlers data was accessed. Including medical history, diagnoses, payment details, SSN, birthday. Why was this not encrypted? Given the world today, this is negligent. The government should be able to disolve the company and give the money to the victims. If there was a willful…

> The government should be able to disolve the company and give the money to the victims

I feel you, but my understanding is without clear monetary impact, its hard to collect any amount of money from these companies. Even if you experience identity theft, whose to say this vs one of the other data leaks was the issue.

Re: Independent directors of 23andMe resign from board

#135

Post by JumpCrisscross »

elictronic wrote: post #40
llm_nerd wrote: post #22

Earlier quoted context omitted.

The plan was always that DNA could be use for medical research, which is enormously valuable. And given that 23andme currently has a market cap 1/20th DJT (Trump Media & Technology Group Corp) -- a firm that makes less revenue than a variety store yet has huge losses -- I wouldn't really say it's "worth so much".

I wouldn’t compare any stock to DJT. MAGA voters value signaling, institutional investors playing games, foreign governments laundering money to the campaign, primary shareholder prepping for exit. The companies actual revenue has zero impact and never will. Treat DJT like a NFT and it makes a ton of sense.

> wouldn’t compare any stock to DJT. MAGA voters value signaling, institutional investors playing games, foreign governments laundering money to the campaign, primary shareholder prepping for exit

You’re right for the wrong reasons. (EDIT: I'm wrong for no reason.)

Dow Jones is obsolete [1]. Its value is in its brand, i.e. other people look at it.

The other factors you mention are noise. Relevant to a trader or market maker with infintessimal time horizons. But irrelevant to an investor thinking even in months. The American markets are simply too deep. The totality of dollars at work by MAGA voters, game-playing hedge funds and money launderers--through the stock market--is negligible. (Lots of political tea-leave reading funds have been attempted. Zero prevail.)

[1] https://retirementresearcher.com/why-the-dow-doesnt-work/

Re: Independent directors of 23andMe resign from board

#136

Post by soganess »

saghm wrote: post #119
throwawayffffas wrote: post #86

Earlier quoted context omitted.

The resignation implication is that the CEO is running the company to the ground. The comment further implies this is on purpose in order to buy the company cheaply.

I'm confused by this; isn't the board of directors who picks the CEO? Or are they locked in for some period of time and don't want to wait around?

I don't know the first thing wrt how 23andMe has its governance and voting setup, but the letter seems to imply the CEO has majority power or, at least, a large enough plurality that it is a one-person-show:

> Because of that difference and because of your concentrated voting power, we believe that it is in the best interests of the Company’s shareholders that we resign

EDIT: But that brings up a different question: If you have majority voting power, why try to take the company private (as it has been suggested by others here)?

Re: Independent directors of 23andMe resign from board

#137

Post by JumpCrisscross »

typeofhuman wrote: post #70
jonstewart wrote: post #9

They also just settled a class-action lawsuit stemming from their data breach: https://www.bleepingcomputer.com/news/security/23andme-to-pa...

I think data-breaches could carry the death penalty for companies. I just got a notification from some health services company that my and my toddlers data was accessed. Including medical history, diagnoses, payment details, SSN, birthday. Why was this not encrypted? Given the world today, this is negligent. The government should be able to disolve the company and give the money to the victims. If there was a willful…

> data-breaches could carry the death penalty for companies

One, corporate death penalties are nonsense. They’re a distraction from fines.

Two, what would America pay for its adversaries to enact such a policy. Automatic self destruct for the entire data sector.

Re: Independent directors of 23andMe resign from board

#138

Post by JumpCrisscross »

starfezzy wrote: post #97
HideousKojima wrote: post #48

Earlier quoted context omitted.

My oldest brother did so I'm already screwed

Can even one single person here articulate their specific fears of using 23andme, or is it all FUD?

> Can even one single person here articulate their specific fears of using 23andme

Sure. I find out my competitor for the top role has a degenerative disease, e.g. Parkinson’s. It’s not relevant for many years. But I use it, subtly, to shape opinion.

More pointedly: we are in an era of mass disinformation. The simple fact that somebody used 23andMe makes any lie about it somewhat credible.

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