Key points from article :
DNA-testing company 23andMe, once valued at the top of the tech industry, now faces severe financial challenges, with its share price plunging from a high of $321 to under $5. Founded by Anne Wojcicki, the company initially saw massive demand as people sent in saliva samples to uncover genetic details, ancestry, and health insights. However, the company’s business model had limitations; customers typically buy only one DNA test, providing minimal recurring revenue. Furthermore, plans to use its vast anonymized genetic database for drug research faced delays, given the lengthy drug development process.
The company’s struggle has raised concerns about the future of its massive DNA database, which contains deeply personal information about its users and their families. Privacy advocates, like Carissa Veliz, caution that sharing DNA data potentially impacts relatives, who did not consent. Similarly, Professor David Stillwell notes that even if one sibling submits DNA, it provides insights into others, making privacy a collective issue.
Despite recent rumors of potential acquisition, Wojcicki has stated she plans to keep 23andMe private, resisting external buyouts. The company remains committed to data protection, citing legal safeguards like GDPR, which would apply even in a change of ownership. However, a data breach last year heightened concerns, illustrating that privacy risks persist despite protections.
Privacy experts argue that existing laws may not adequately safeguard such sensitive information. They call for stricter regulations to prevent the misuse and trade of genetic data, emphasizing the need for robust measures to protect individuals’ most personal information from potential exploitation or mishandling by third parties.
