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How 23andMe's bankruptcy led to a run on the gene bank

Planet Money

2025/04/26
Planet Money

Planet Money

2025/04/26
The podcast delves into the implications of 23andMe's bankruptcy for its customers' genetic data. Through the lens of Aunt Vovi's personal experience, it explores the broader concerns surrounding consumer privacy and the value of genetic information in today's data-driven world.
Aunt Vovi's initial fascination with her 23andMe results turned to disappointment as updates altered her perceived ancestry. When 23andMe filed for bankruptcy, concerns arose about the sale of customer genetic data. The company’s financial struggles highlight challenges in monetizing such datasets, compounded by data breaches and lawsuits. Inadequate US privacy laws raise fears about how customer data might be handled during bankruptcy proceedings. Precedents suggest a Consumer Privacy Ombudsman could advocate for users’ rights, though their effectiveness is debated. As potential buyers consider acquiring 23andMe, legal protections like GINA provide some safeguards but have limitations. Ultimately, many users opted to delete their data due to privacy concerns, impacting the database's value.
07:00
07:00
An update changed Aunt Vovi's results to 99.8% Afghan.
02:54
02:54
Customer genetic data might be sold if 23andMe files for bankruptcy
06:13
06:13
23andMe filed for Chapter 11 after failing to monetize genetic data.
12:30
12:30
A Consumer Privacy Ombudsman can make a big difference in data-selling bankruptcies.
25:20
25:20
GINA protects against employer and health-insurance discrimination based on genetic data.