"The Wall Street Journal recently reported that #23andMe once had a market cap of $6 billion. That has dropped to $350 million. "
Here we go again: how do we figure out how much of 23andMe's woes is due to a #databreach and their pretty deplorable #incidentresponse that blamed their users, and how much is due to other financial issues involving their investments?
@PogoWasRight Also, there's not much of a growth model in selling people DNA analysis. It's pretty much a one and done thing unless people care about specific new tests. It's a bit like instapots. Once everyone has one, what do you do?
23+me could have been a great business if they never raised investment funds.
@adamshostack I'd like to see some data on new signups before the breach, after the breach was first disclosed, and then after they issued their blame-the-users statement. But you're probably right that the major factor in their downward trend is the investments.
23andMe data breach: #Hackers stole raw genotype data, health reports
Ugh, so after blaming other people for this breach, 23andMe admits that raw genotype data (which, btw is immutable as it gets for data points) was compromised… due to a 5-month long credential stuffing campaign.