Crucible Moments 23andMe ft. Anne Wojcicki - How a DNA startup took on the FDA and redefined health tech
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Nov 16, 2023 Anne Wojcicki, CEO of 23andMe, shares the journey of the company, from challenging the medical establishment to becoming the only FDA-approved product. The podcast discusses the regulatory challenges, expansion into drug discovery, and the company's evolution in redefining health tech.
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Price Drop Boosts Sales
- 23andMe's initial price point of $1,000 resulted in low sales volume.
- Dropping the price to $99 led to a massive increase in sales, demonstrating significant market demand.
Medical Community Backlash
- Some medical professionals expressed strong concerns about 23andMe's direct-to-consumer approach.
- One individual even predicted that the company would cause widespread issues due to non-paternity revelations.
FDA Shutdown
- In 2013, the FDA ordered 23andMe to cease its health testing services.
- This unexpected letter came as a shock and became public shortly after, putting immense pressure on the company.