Independent directors of 23andMe resign from board

Post by llm_nerd » Wed, Sep 18, 2024, 1:03 AM UTC

hackernewds wrote: post #17

LarsDu88 wrote: post #2

Literally 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…

why are these companies worth so much, if not for sneakily monetizing and selling their user's most personal data?

Post by javierluraschi » Wed, Sep 18, 2024, 1:03 AM UTC

toomuchtodo wrote: post #5

LarsDu88 wrote: post #4

Earlier quoted context omitted.

Virtually impossible as Anne Wojcicki holds 20% of the outstanding shares and 49% of the voting power of total outstanding shares. That's essentially dictator-level power over the company. I believe the next largest shareholder is Richard Branson. Source: https://investors.23andme.com/news-releases/news-release-det... Despite the promising drug development news, the CEO signaled last month that she was willing to let…

Regrettable. I suppose the alternative path is to let them go bankrupt and to get bought out of bankruptcy. That should wipe out all equity holders. If you’re a potential bidder, get your financing or cash lined up.

Post by bluedevil2k » Wed, Sep 18, 2024, 1:06 AM UTC

hackernewds wrote: post #21

dyauspitr wrote: post #8

Earlier quoted context omitted.

Why is she even the CEO? Was she placed there by Google once they bought 23andme?

They haven't bought 23andme. but there is overlap, Anne was the former CEO of YouTube and wife of Sergey Brin

Post by hackernewds » Wed, Sep 18, 2024, 1:07 AM UTC

Post by LarsDu88 » Wed, Sep 18, 2024, 1:09 AM UTC

nextos wrote: post #18

LarsDu88 wrote: post #2

Literally 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…

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.