
Freakonomics Radio
Extra: Why Is 23andMe Going Under? (Update)
Apr 29, 2024
Anne Wojcicki, co-founder and CEO of 23andMe, discusses her company's dramatic decline from a booming genetic testing pioneer to facing significant financial challenges. Rolfe Winkler, a Wall Street Journal reporter, sheds light on the implications of a recent data breach and the company's struggle to monetize wellness products. They explore ethical concerns surrounding genetic data use, the emotional impact of DNA revelations, and the broader significance of consumer genetics in healthcare innovation. The conversation uncovers both the potential and pitfalls of personal genomics.
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Quick takeaways
- Genetic testing can uncover unexpected health risks, influencing lifestyle choices.
- Collaborative DNA platforms aid law enforcement in solving cold cases.
Deep dives
The Rise and Fall of 23andMe
In 2019, an episode featuring Ann Wojcicki discussed 23andMe's merger with a SPAC company, backed by Richard Branson, valuing it at $6 billion. Subsequent to its popularity surge due to home DNA testing, its valuation plummeted to zero. This led to a bonus episode of Freakonomics Radio replaying the initial conversation with Wojcicki, followed by insights from a Wall Street Journal reporter, Rolf Winkler, on the company's setbacks and potential future.
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