I used to work at 23andMe, AMA
What is you personal opinion about this news?
Independent directors of 23andMe resign from board
151–160 of 372 posts
Re: Independent directors of 23andMe resign from board
#152Literally just one day after 23andMe presented positive phase 2 clinical results for two anti-cancer drugs: https://therapeutics.23andme.com/news-and-research/ The board of directors of 23andMe just resigned in protest. The CEO, Anne Wojcicki (who's sister Susan died of lung cancer last month, and was the former CEO of YouTube) had tried to low ball take the company private at only $0.40 a share -- a more than 96% dr…
To complete the data, the company is trading at $0.34/share, so while $0.40 is a bit lower than the typical 20% premium (~$0.41), I'm not sure it counts as "lowball". It's a typical premium over market cap. Is there any reason to think the company is worth $4.7B or whatever ($9.30/share)? If so the stock is a steal at its current price and we should all buy lots. But can the market be THAT wrong?
Yes. The market can be THAT wrong, not just wrong but also corrupt and broken (on purpose).
Hint: regulatory crisis, Suzanne Trimbath, failure to deliver shares, naked shorting, Tesla shortsqueeze, VW shortsqueeze, UBS's and Swiss gov's 50 year secret, etc.
Re: Independent directors of 23andMe resign from board
#153Earlier quoted context omitted.
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 Dow Jones is obsolete [1].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 marke…
> NASDAQ: DJT
> Trump Media & Technology Group Corp
Re: Independent directors of 23andMe resign from board
#154Earlier quoted context omitted.
Was the plan all the time to go B2B (drug development) and they just used B2C (selling SNP kits) to hoard samples? Even considering all FDA limitations, I cannot understand how bad their genetic risk scores are. They have talent, they have lots of customers and data. This is a position other companies, like deCODE, would have killed to be in.
If the board is resigning, and the company is selling DNA kits, running a telemedicine operation, selling pharmceuticals online AND developing cancer drugs at a 180 million dollar market cap... It's quite possible there was no plan at all...
>>> selling pharmceuticals online
That would explain them selling 5 million users DNA information to GSK.
Earlier this summer, the often-scrutinized at-home genetic testing company 23andMe sold genetic data from five million customers to the pharmaceutical company GlaxoSmithKline (GSK). This surprised a lot of their customers who had forgotten that they consented to this when they signed up for the service.
https://cglife.com/blog/23andme-sold-your-genetic-data-to-gs...
Re: Independent directors of 23andMe resign from board
#155Earlier quoted context omitted.
> 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 marke…
> NASDAQ: DJT > Trump Media & Technology Group Corp https://finance.yahoo.com/quote/DJT/
Ha! Wow. Yes. Thank you.
Re: Independent directors of 23andMe resign from board
#156Earlier quoted context omitted.
They haven't bought 23andme. but there is overlap, Anne was the former CEO of YouTube and wife of Sergey Brin
Anne's sister Susan, who died a month ago of lung cancer was CEO of YouTube. Susan was the person who advocated Google acquire YouTube in the first place. Google was founded in the garage of Anne and Susan's childhood home. Anne was married to Sergei until he had an affair. One of the board members of 23andMe is Neal Mohan who is the current CEO of YouTube.
Well, one of the board members was Neal Mohan
Re: Independent directors of 23andMe resign from board
#157Earlier quoted context omitted.
I took an alternate approach: my genome is freely available: https://my.pgp-hms.org/profile/hu80855C When I was sequenced, a bunch of genetic counselors at Illumina analyzed it and said they couldn't find a single gene mutation that was linked to increased risk of disease, which was a surprise to me but is really absence of information rather than information of absence.
The problem with publicizing genetic information is that you're defacto publicizing large amounts of the genetic information of your relatives, who may not be in a life situation where publicizing it carries no risk. This is also an objection many have to 23andMe.
For example?
Re: Independent directors of 23andMe resign from board
#158Re: Independent directors of 23andMe resign from board
#159Earlier quoted context omitted.
To complete the data, the company is trading at $0.34/share, so while $0.40 is a bit lower than the typical 20% premium (~$0.41), I'm not sure it counts as "lowball". It's a typical premium over market cap. Is there any reason to think the company is worth $4.7B or whatever ($9.30/share)? If so the stock is a steal at its current price and we should all buy lots. But can the market be THAT wrong?
Yes. The market can be THAT wrong, not just wrong but also corrupt and broken (on purpose). Hint: regulatory crisis, Suzanne Trimbath, failure to deliver shares, naked shorting, Tesla shortsqueeze, VW shortsqueeze, UBS's and Swiss gov's 50 year secret, etc.
You actually think people are familiar with most, if any, of your hints? You mention Susanne Trimbath like most people have any idea who she is. If you construct an argument instead of throwing out a buzzword salad of ideas, people are more likely to listen to you.
Re: Independent directors of 23andMe resign from board
#160Earlier quoted context omitted.
You cold e-mail CEOs and get a >70% hitrate? I gotta try this more often.
I suppose it depends if your email is relevant to their interests. My CEO response rate is about 1%. That one time when DHH (creator of Ruby on Rails) responded to my email about my software library 10 years ago. It wasn't even a Ruby library. What a nice guy. A great CEO and engineer as well.
I too can add that my in-person interactions with DHH were incredibly pleasant. What an amazing person!