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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

#301

Post by kortilla »

IG_Semmelweiss wrote: post #242
kortilla wrote: post #169

Earlier quoted context omitted.

You’re kinda all over the place with your “hints”. Naked shorting and failure to deliver shares have zero relationship to setting a bid price people are willing to buy at. Shortsqueezes are cases of driving prices up because shares are hard to get and shorts need to cover. Again, not related to the best offer being too low. Secrets are also dumb examples because that’s hidden information. What we’re talking about her…

I'm willing to grant some leeway on a shortsqueeze. If one is willing to grant that the stock "price" for a liquid listing, is the price for a stock at any given time, then you could argue the markets are "wrong" insofar that the price quoted in the open market, is absolutely not the correct price - regardless of the excuse of a short squeeze.

They are not the same because without available shares to short its very easy to recognize there is stuff overpriced in the market and the open market can’t do anything about it because the sellers are limited and they control the ask.

This is absolutely not true of a price that’s “too low”. Anyone, including you, can go hit those asking prices and start to load up. There is also capped downsize risk (as opposed to uncontrolled risk in a short).

This is all to say that it’s possible that company could be worth $9-10/share, but based on all of the information publicly available today, there are effectively tens of thousands of people each swinging billions in capital than are parking it in stuff providing 5% return rather than the 20000% you suggest is there.

So this tells me that you are just much more hopeful for the future of the company than the current financial projections and prospects support.

Re: Independent directors of 23andMe resign from board

#302

Post by TrainedMonkey »

dvh wrote: post #175

There is absolutely no reason for these companies to collect your PII whatsoever. You should go to nearest pharmacy and buy sterile swab, swab yourself and write long random number on it and send it. Once a month company publishes one giant zip with all the monthly result where you find your file by that random number you wrote.

Your genetic data is probably most accurate / valuable PII there is. Assuming multiple relatives use the service and at least one of them leaks online identity the whole jig is up.

So the issue is not tying it to your online identity, but rather them keeping a resource which becomes more valuable as the time goes on. So why is that an issue... most obviously because of genetic predisposition. There is always a temptation to sell diseases you are predisposed to insurers (and maybe employers... ugh). After that you can imagine someone figuring that genetics affects any number of things (sugar / weight / addiction) and sell that to advertisers...

Re: Independent directors of 23andMe resign from board

#303

Post by freedomben »

philodeon wrote: post #84
School-Cotton wrote: post #79

Earlier quoted context omitted.

Why not? What practical harm is caused to you by other people knowing your DNA?

Book recommendation for you: “IBM And The Holocaust” by Edwin Black. If IBM (then known as Hollerith) could do that much damage with German census data on punchcards…

> Mankind barely noticed when the concept of massively organized information quietly emerged to become a means of social control, a weapon of war, and a roadmap for group destruction.

From IBM and the Holocaust by Edwin Black.

Imagine the "massively organized information" that will be available to people in power in the future. It doesn't have to be a genocide for it to be useful to them. People in power today are fully on board with "social control" and it's so uncontroversial that they talk about it openly.

Re: Independent directors of 23andMe resign from board

#304

Post by duped »

gizmondo wrote: post #207
LatteLazy wrote: post #201

Earlier quoted context omitted.

This fixes the issue with leaks. But it creates a much worse issue: anyone can now sequence anyone else's DNA with zero oversight or privacy controls. The film Gattaca covers how this could lead to a sort of night are society pretty well, I highly recommend it. It also makes it much much harder to use the data for clinical research.

What prevents anyone from sequencing anyone else's DNA with the current system?

Nothing but terms and conditions of the website. That's how Paul Holes identified the Golden State Killer, he created a fake profile and sent in the DNA from a crime scene and worked backwards from the results to find a suspect.

Re: Independent directors of 23andMe resign from board

#305

Post by kjkjadksj »

lurkshark wrote: post #170
starfezzy wrote: post #97

Earlier quoted context omitted.

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

The company seems to be in rough condition. Say they go bankrupt and an ad-tech data broker buys their assets. Now DraftKings can laser focus their ads to folks genetically predisposed to addiction.

You’d have to work out what variants predispose for that which is no easy task. And once you did that you don’t even really need individual dna data. You might find say a swedish population tends to have the variant and you just target swedes in general.

Re: Independent directors of 23andMe resign from board

#307

Post by xbar »

yard2010 wrote: post #214

Bullshit translation: We quit. You didn't give us a real offer, so we're out. We still believe in the company, but you have too much control, so we're leaving to avoid a fight. We did our best, but it's time to go.

I suspect it goes further.

"You are a liar and we cannot further risk our reputations on your dishonesty."

Re: Independent directors of 23andMe resign from board

#308

Post by syndicatedjelly »

School-Cotton wrote: post #79
SoftTalker wrote: post #10

Zero chance I ever give my DNA to one of these companies.

Why not? What practical harm is caused to you by other people knowing your DNA?

Comments like this are why schools should make liberal arts education mandatory again in the STEM curriculum

Re: Independent directors of 23andMe resign from board

#309

Post by nytesky »

LatteLazy wrote: post #201
dvh wrote: post #175

There is absolutely no reason for these companies to collect your PII whatsoever. You should go to nearest pharmacy and buy sterile swab, swab yourself and write long random number on it and send it. Once a month company publishes one giant zip with all the monthly result where you find your file by that random number you wrote.

This fixes the issue with leaks. But it creates a much worse issue: anyone can now sequence anyone else's DNA with zero oversight or privacy controls. The film Gattaca covers how this could lead to a sort of night are society pretty well, I highly recommend it. It also makes it much much harder to use the data for clinical research.

Great movie and I didn’t realize the title was composed of a nucleic acid sequence until like the 2020s!

Re: Independent directors of 23andMe resign from board

#310

Post by halyconWays »

dvh wrote: post #175

There is absolutely no reason for these companies to collect your PII whatsoever. You should go to nearest pharmacy and buy sterile swab, swab yourself and write long random number on it and send it. Once a month company publishes one giant zip with all the monthly result where you find your file by that random number you wrote.

Are you kidding? The CIA would never fund that and if such a company existed, the founder would probably end up going for a 130 MPH drive at 2 AM and getting in a crash that burned so hot nothing but ash remained.
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