Earlier quoted context omitted.
[flagged]
How is the prior comment political? In this case, the CEO/49% owner is being referred to as the bully?
[flagged]
23andMe files for bankruptcy to sell itself
321–330 of 426 posts
Re: 23andMe files for bankruptcy to sell itself
#322Earlier quoted context omitted.
There are two types of corporate bankruptcy, chapter 7 and 11. Chapter 7 is what you are probably thinking about. Chapter 11 allows for “rehabilitation”, ie. negotiating debt, discharging some, and setting up a plan to get out of bankruptcy Most of the times when you see the news reporting about prominent/public US companies filing for bankruptcy, it’s chapter 11. Which is also the case here with 23andme In chapter 7…
Yeah, rest of the world calls one bankruptcy and the other restructuring, adding to confusion.
Both types are forms of bankruptcy in much of the world, exactly like the US. It usually isn't differentiated which because many companies that go down the restructuring route end up at the insolvency end when debtors aren't onboard with their plans.
Re: 23andMe files for bankruptcy to sell itself
#323Earlier quoted context omitted.
I’m much more concerned about Palestinians being targeted since they’ve already been the victims of AI weapons attacking civilians. Imagine if people with Palestinian/semitic DNA were leaked?
Palestinians do not have distinctive DNA that sets them apart from other populations in the Middle East. I'm not aware of movements that target levantine ancestry in general.
I think that the sort of people who would snatch up a DNA database to put people on a list would be willing to accept some collateral damage.
Re: 23andMe files for bankruptcy to sell itself
#324Highly recommend that anyone interested in this company listens to the episode of the Freakonomics Radio podcast about 23andMe:
https://freakonomics.com/podcast/why-is-23andme-going-under-...
Seems like they struggled to turn a one-off purchase model into recurring revenue. At some point everyone in the world who cares enough about their DNA has already bought your product.
Re: 23andMe files for bankruptcy to sell itself
#325Earlier quoted context omitted.
You live in a democracy until you don’t. It can disappear overnight with the stroke of pen from some populist leader who just ignores laws. Never think you are safe just because you’re in a democracy.
If a future totalitarian government wants to save money on medical treatments then they can just euthanize anyone who gets cancer rather than euthanizing anyone whose genes say that they have a 50%+ greater risk than average of getting cancer. Or collect genetic samples themselves and use that to cull the population rather than just do it for people who were 23andMe customers.
You're going from 0 and 1 but there's a lot of time and politicking during which society is in the transition period.
Re: 23andMe files for bankruptcy to sell itself
#326Earlier quoted context omitted.
So rather than $8 a share they get zero? Sounds like the board was the one that messed things up.
> So rather than $8 a share they get zero? Sounds like the board was the one that messed things up. The share was trading at $8-$9 at the time. The primary reason why the board has been rejecting the offer is that the CEO kept proposing discount prices to the market rate.
[deleted]
Re: 23andMe files for bankruptcy to sell itself
#327Earlier quoted context omitted.
Isn't there possibility of very in depth racial profiling? I mean ancestry.com data van be used similarly, but genetical info is inobfuscable.
It depends. Credible people claim that 23andme’s racial / ethnic compositions are highly inaccurate.
Even more reason to be concerned
Re: 23andMe files for bankruptcy to sell itself
#328Earlier quoted context omitted.
I get that a little from the company perspective, but it leads to its own issues of perhaps more important magnitude. If you have data for a user, who wants to delete it, you can soft delete to allow recovery to prevent complaints. On the other hand, 5 years from now your system gets hacked, and now you have to email some person you haven't done business with in 5 years to tell them their data that you claimed was de…
Why not educate the customer? "If you request deletion, do not expect your data back, because it truly will be deleted!". Sad state of world that this has to be said, however. Discord (and many other places) allow you to recover your account within a specific period of time, but they do not delete anything, you just simply lose access and your name gets changed (and avatar and status removed), but all your DMs are th…
Correction: "unofficial way [to ...]".
Re: 23andMe files for bankruptcy to sell itself
#329please go and delete your data, immediately.
it's not just for you, but for anyone related to you - this database is hugely dangerous thing to have exist, and always has been, but at least notionally was a semi-serious medical business, but is now going to be sold for scrap in an extremely poisonous environment in the US.
Re: 23andMe files for bankruptcy to sell itself
#330Earlier quoted context omitted.
For every customer that legitimately wants their data deleted there's a hundred that complain their data is gone after confirming deletion. The same customers that mark your transactional email as spam then complain about not being able to get into their account. Exaggerating here, but I do think soft deletion practices can be partially blamed on real business problems. I'm not sure why anyone would think that using…
> I'm not sure why anyone would think that using soft deletion on an actual burn account function would be sensible though. When the data has value to the company and it is legal to keep it it seems very sensible to keep it (out of the perspective of s.o. acting in the interest of the company).
By burn I mean legitimate deletion, as in remove all of my data from your service. If you offer deletion of that sort then it's misleading to retain.