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23andMe files for bankruptcy to sell itself

reuters.com

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Re: 23andMe files for bankruptcy to sell itself

#71

Post by xbmcuser »

ks2048 wrote: post #35

There are troubling privacy issues, but it was able to tell me: "Toe Length Ratio : Likely second toe longer". I didn't even have to look down! Maybe it was a bad idea. But, I figured if we enter a dystopian future, evil health care companies or governments could easily get my DNA if they want to and/or simply require that information to get care. When you get blood drawn, do you see what they do with it? Hopefully,…

Looking at how the current administration is following laws and court orders I think you might have too much trust in laws

Re: 23andMe files for bankruptcy to sell itself

#72

Post by friendzis »

nico wrote: post #3
Mengkudulangsat wrote: post #2

So how does this work in the US? I thought companies in bankruptcy will be broken apart and its assets sold piecemeal. Can anyone who buy this out of auction get in one piece and debt-free?

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.

Re: 23andMe files for bankruptcy to sell itself

#73

Post by vihren »

raverbashing wrote: post #56
ks2048 wrote: post #35

There are troubling privacy issues, but it was able to tell me: "Toe Length Ratio : Likely second toe longer". I didn't even have to look down! Maybe it was a bad idea. But, I figured if we enter a dystopian future, evil health care companies or governments could easily get my DNA if they want to and/or simply require that information to get care. When you get blood drawn, do you see what they do with it? Hopefully,…

This could actually be a plot point on a dystopian sci-fi movie (identifying people by weird metrics like toe size and such)

You might like Gattaca if you haven't seen it.

Re: 23andMe files for bankruptcy to sell itself

#74

Post by tdeck »

transcriptase wrote: post #11
alexfromapex wrote: post #5

Already downloaded and deleted my data. It’s so wild that some new buyer could just buy peoples’ genetic data at a fire sale.

I do wonder whether the data is actually deleted or they just do like every other large tech company and set a “deleted = true” flag that hides it from the user, since actually deleting it and all of its replicates across data centres, backup images, and tape storage is from what I’ve been told, virtually impossible even if the will was there.

Soft deletion doesn't satisfy the company's obligation under the CCPA.

Re: 23andMe files for bankruptcy to sell itself

#76

Post by nickm12 »

silisili wrote: post #24
someothherguyy wrote: post #16

Earlier quoted context omitted.

https://en.wiktionary.org/wiki/soft_deletion

It's absurd to me how soft deletion took over the entire industry and 'DELETE FROM' became taboo.

Says someone who has never experienced a data loss bug.

Re: 23andMe files for bankruptcy to sell itself

#77

Post by xyst »

dehrmann wrote: post #63
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…

Wouldn't be surprised if Wojcicki faces a class action suit over fiduciary responsibility.

No point in doing this. Just enriches the lawyers. Then Wojicki just flees the country and skirts any responsibility.

Re: 23andMe files for bankruptcy to sell itself

#79

Post by whyenot »

kibibu wrote: post #9
JoshTriplett wrote: post #6

This is unfortunate news for anyone whose data is now one of the assets to be sold to the highest bidder.

Honestly it's always seemed completely insane to me that people signed up for these services. Possible Pros: You find out you are 20% Norwegian! Fun! Possible Cons: Grandma is going to prison for an unsolved crime. Assume a non-threatening position and comply with all orders of the new Department of Racial Purity. Also, that's not your real Dad.

> Possible Pros: You find out you are 20% Norwegian! Fun!

It's kind of irritating the way you are minimizing the "pros" here (and you aren't the only one at HN who has done this recently). There are people who found their parents and siblings thanks to 23 and Me. I found my father and my half sister. Maybe it's not important to you, but there are people out there who are willing to "pay" a lot to find out who they are. I appreciate that to you it may not feel like a good trade, but please have the empathy to understand that for others, it is.

Re: 23andMe files for bankruptcy to sell itself

#80

Post by kelnos »

carimura wrote: post #38
theogravity wrote: post #10

Just deleted my data. Who knows who will own it after this?

their own privacy team told me they are bound by regulatory obligations to retain data even after you request deletion. I've notified our attorney general's office to see if anything can be done but it might be too late. I'd love for someone who knows these "regulatory obligations" to chime in.....

Interesting, as that would be a violation of the CCPA/CPRA for customers who are California residents, at least.

The "regulatory obligations" sounds like a fake excuse. Is 23andme even regulated beyond how your regular average business might be?

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