Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

23andMe files for bankruptcy to sell itself

reuters.com

Post reply on HN
Print view View original

201–210 of 426 posts

Re: 23andMe files for bankruptcy to sell itself

#201

Post by [deleted] »

citadel_melon wrote: post #186
shreezus wrote: post #113

Even if you haven't personally used their service, if any close relatives have, they already have a sizable amount of information on your genome. They maintain the equivalent of "shadow profiles" ( https://en.wikipedia.org/wiki/Shadow_profile ) as part of their data model for "ancestry" modeling purposes - for example inferring a paternal haplogroup based on data uploaded by genetic relatives. I can only hope at the…

I am not as worried if this data gets out or not. I think there are negative externalities if the data is sold to insurance firms — who can use the genomic information in litigation and policy rejections — or if the data is sold to some sort of powerful, pro-eugenics political organization. The insurance externalities likely can be mitigated with minimal legislation (protecting consumers in a similar manner to how we…

[deleted]

Re: 23andMe files for bankruptcy to sell itself

#202

Post by Spacecosmonaut »

shreezus wrote: post #113

Even if you haven't personally used their service, if any close relatives have, they already have a sizable amount of information on your genome. They maintain the equivalent of "shadow profiles" ( https://en.wikipedia.org/wiki/Shadow_profile ) as part of their data model for "ancestry" modeling purposes - for example inferring a paternal haplogroup based on data uploaded by genetic relatives. I can only hope at the…

I'm a genetic engineer at a large pharma company. Genetic engineering of human model systems is my specialty. If I were a malicious actor, I could not do anything useful with the genome of any one person.

Most peoples genomes are boring and at best sway the predisposition for disease by a modest degree. Exposing infidelity is honestly the best I can come up with.

Re: 23andMe files for bankruptcy to sell itself

#203

Post by shreyshnaccount »

linotype wrote: post #96
cloudbonsai wrote: post #48

23andMe has been in a deadlock for a while. - The CEO is effectively the control owner of the company, having 49% of the voting right. She has been trying to take the company private for some time. - Last August, she proposed to buy all the outstanding shares at $8 per share. The board rejected. She installed a new board, and submitted her proposal again at $2.53 per share. The board rejected. She tried it a third ti…

So rather than $8 a share they get zero? Sounds like the board was the one that messed things up.

board probably thinks the assets remaining after the bankruptcy pays off the creditors is more than the $8/share?

Re: 23andMe files for bankruptcy to sell itself

#204

Post by shreyshnaccount »

Spacecosmonaut wrote: post #202
shreezus wrote: post #113

Even if you haven't personally used their service, if any close relatives have, they already have a sizable amount of information on your genome. They maintain the equivalent of "shadow profiles" ( https://en.wikipedia.org/wiki/Shadow_profile ) as part of their data model for "ancestry" modeling purposes - for example inferring a paternal haplogroup based on data uploaded by genetic relatives. I can only hope at the…

I'm a genetic engineer at a large pharma company. Genetic engineering of human model systems is my specialty. If I were a malicious actor, I could not do anything useful with the genome of any one person. Most peoples genomes are boring and at best sway the predisposition for disease by a modest degree. Exposing infidelity is honestly the best I can come up with.

i always thought that its valuable when you have enough data from an insurance pov? is that a myth?

Re: 23andMe files for bankruptcy to sell itself

#205

Post by danesparza »

linotype wrote: post #96
cloudbonsai wrote: post #48

23andMe has been in a deadlock for a while. - The CEO is effectively the control owner of the company, having 49% of the voting right. She has been trying to take the company private for some time. - Last August, she proposed to buy all the outstanding shares at $8 per share. The board rejected. She installed a new board, and submitted her proposal again at $2.53 per share. The board rejected. She tried it a third ti…

So rather than $8 a share they get zero? Sounds like the board was the one that messed things up.

If they declare bankruptcy, then the creditors get first pick over assets. Several board members might be creditors.

Re: 23andMe files for bankruptcy to sell itself

#206

Post by Spacecosmonaut »

shreyshnaccount wrote: post #204
Spacecosmonaut wrote: post #202

Earlier quoted context omitted.

I'm a genetic engineer at a large pharma company. Genetic engineering of human model systems is my specialty. If I were a malicious actor, I could not do anything useful with the genome of any one person. Most peoples genomes are boring and at best sway the predisposition for disease by a modest degree. Exposing infidelity is honestly the best I can come up with.

i always thought that its valuable when you have enough data from an insurance pov? is that a myth?

For the vast majority of people lifestyle is much more deterministic than genetics. There are a few exceptions causing relatively deterministic adult onset diseases: Huntington, APOA4 homozygosity, FAP, BRACA mutants. These are rare however.

Re: 23andMe files for bankruptcy to sell itself

#209

Post by londons_explore »

marcus_holmes wrote: post #170
dtech wrote: post #153

Earlier quoted context omitted.

That's not true, shares are a share of the companies assets and future dividends. There are "scavengers" out there who buy a company if its assets are worth more than the market cap, close down the company or otherwise spin out the assets, and thus earn more than they paid for the shares.

> That's not true, shares are a share of the companies assets and future dividends. Possibly true 20 or 30 years ago, but now shares are speculative assets, their worth determined by what the market thinks they might be bought for by a greater fool.

Only for companies who are profitable or might be profitable in the future.

If the company has no chance at future profit, it becomes a simple share of assets. There are plenty of companies with assets only and no revenue or employees.

Re: 23andMe files for bankruptcy to sell itself

#210

Post by 1dom »

Spacecosmonaut wrote: post #206
shreyshnaccount wrote: post #204

Earlier quoted context omitted.

i always thought that its valuable when you have enough data from an insurance pov? is that a myth?

For the vast majority of people lifestyle is much more deterministic than genetics. There are a few exceptions causing relatively deterministic adult onset diseases: Huntington, APOA4 homozygosity, FAP, BRACA mutants. These are rare however.

> For the vast majority of people lifestyle is much more deterministic than genetics.

How much of lifestyle do you think is determined by genetics, if any, and how much of that link do we currently understand?

I feel the concern around genetic data privacy has normally been the risk of unknown future stuff, rather than any current known vectors. I'm not saying it's a legitimate fear, but I don't know if it's one that is placated with "we can't currently do anything bad".

Post reply on HN