thewayne: (Default)
Its stock is trading at about $0.76 and the Nasdaq is threatening to delist them. THAT is a pretty far fall!

The core problem is that it is sort of a one-trick pony: once you get your genes tested, there's no reason to go back to the company. No repeating revenue stream. And now that revenue stream has dried up and they're facing a grim future. With their stock trading so low, it's going to be hard to raise more money.

This is a similar problem faced by the company that sells the Instapot. Once you buy one, you're not going to buy two or three (unless you have very special needs). The company soared, then tanked as the demand crashed. And there are only so many ways you can update that tech to try to hype up that demand. The inventors of the Instapot sold out to a larger kitchen goods maker, who is now struggling with the price they paid since it's no longer the sales horse that they had hoped it was.

My big question is: if 23andMe goes away, what happens to all that data that they collected?

I would have linked an article, but the only one listed in the Slashdot headline was from the Wall Street Journal which is behind a paywall.

https://slashdot.org/story/24/01/31/1532255/23andmes-fall-from-6-billion-to-nearly-0
thewayne: (Default)
In October, the gene testing company got hacked. The information on 7,000,000 customers was compromised. From the article, the information compromised includes: "photos, full names, geographical location, information related to ancestry trees, and even names of related family members. The company said that no genetic material or DNA records were exposed. Days after that attack, the hackers put up profiles of hundreds of thousands of Ashkenazi Jews and Chinese people for sale on the internet."

Of course, law suits started popping up immediately. Back to the article: "multiple class action claims” have already been against the company in both federal and state court in California and state court in Illinois, as well as in Canadian courts." No surprise there.

Here's the surprise.

23 sent out an update to its terms of service to all customers. Okay, that's not new, companies do it all the time and usually we ignore them. These were a bit different. Just a wee bit.

First off, unless you notified them in writing within 30 days, you automatically agreed to them.

Second, by agreeing to them, you relinquished your right to participate in class action claims.

GEE, ISN'T THAT SPECIAL?! Company gets hacked, then screws over their customers to try to prevent them from suing the company. Pretty clever. One law professor said that the change in the user agreement would not be enough to prevent claims, but the article did not go into any detail of the reasoning behind the statement. Perhaps some ex post facto going on there?

Myself, while I have had genetic testing performed, it was purely in a medical context and theoretically my genes have never been shared with companies like this. They are far too liberal with sharing their information and with letting law enforcement stroll through their data.

https://www.engadget.com/23andme-frantically-changed-its-terms-of-service-to-prevent-hacked-customers-from-suing-152434306.html
thewayne: (Default)
Very interesting stuff. The scientists/researchers had multiple hair samples available to them with varying levels of provenance and chain of ownership. The analysis showed many things, among which he was suffering from Hep-B. No solid conclusions as to what caused his deafness.

https://arstechnica.com/science/2023/03/beethovens-genome-sequenced-for-first-time-yields-clues-on-cause-of-death/
thewayne: (Default)
Like we didn't see this coming.

The recommended way of using Monsanto's corn was you planted most of your field with their genetically-modified corn, but you also planted an acre (or so) of standard corn and let the pests have it. Surprisingly, this worked well and helped prevent superinsects from developing. Well, in India, they didn't set off this portion of land and they now have a corn worm that is resistant to Monsanto's Roundup. Just like stopping taking antibiotics three days in to a two week course because you're feeling better.

http://www.npr.org/blogs/thesalt/2011/12/05/143141300/insects-find-crack-in-biotech-corns-armor
thewayne: (Default)
YES! I have always thought these were just flat-out wrong. Patents were intended for inventions, not things that occur in nature. If you invent a machine that will detect certain genetic patterns, fine, patent that. But not the sequence.

This is especially important to me because my condition is genetic and will probably require a genetic cure.

http://www.wired.com/threatlevel/2010/03/judge-nullifies-gene-patents/

http://science.slashdot.org/story/10/03/29/2355233/US-District-Judge-Rules-Gene-Patents-Invalid?art_pos=15

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