Planet Money How 23andMe's bankruptcy led to a run on the gene bank
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Apr 26, 2025 Aunt Vovi's journey with 23andMe leads to unexpected revelations about ancestry, touching on the emotional weight of genetic data. As the company faces bankruptcy, concerns about privacy and the future of customers' data emerge. Discussion shifts to the complexities of consumer rights in data handling during financial crises. There's contemplation on the role of Chief Privacy Officers and the evolving landscape of data regulations. Listeners will resonate with the struggles of reclaiming privacy amidst the murky waters of corporate financial turmoil.
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Aunt Vovie's Genetic Test Journey
- Aunt Vovie took a 23andMe genetic test hoping to discover surprising ancestral stories.
- The test initially showed mixed origins but later updates simplified her heritage to mostly Afghan.
23andMe's Bankruptcy Roots
- 23andMe built a massive genetic database from 15 million customers but never made a profit.
- A data breach in 2023 and lawsuits pushed the company into bankruptcy.
Purpose of Chapter 11 Bankruptcy
- Chapter 11 bankruptcy aims to keep companies operating and maximize value for creditors.
- It balances interests of companies, creditors, employees, and customers to avoid liquidation.
