The Prof G Pod with Scott Galloway What Happened to 23andMe? Why Harris’ Plan to Tax Unrealized Gains Makes No Sense, and Time Really is Money
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Sep 11, 2024 Dive into the dramatic downfall of 23andMe, which plummeted from a $4.5 billion valuation to mere cents per share, showcasing the perils of growth mismanagement. Explore the controversial idea of taxing unrealized gains for the ultra-wealthy, unpacking its complexities and potential pitfalls. Finally, discover how strategic outsourcing can enhance productivity, allowing you to focus on what truly matters. It's a blend of business insights and personal growth strategies.
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23andMe Investment
- Scott Galloway invested in 23andMe at $10 per share, now trading below $0.50.
- He attributes the decline to overestimating consumer demand and excessive spending.
Investment Advice
- Diversify investments and forgive yourself for investment mistakes.
- Offset capital gains with losses from investments like 23andMe.
Sperm Donor Anecdote
- Galloway avoids 23andMe due to his past as a prolific sperm donor.
- He fears discovering numerous biological children through the service.