The genetic testing company 23andMe has filed for Chapter 11 bankruptcy, leading to concerns regarding the handling of customer genetic data. Although the company claims that the bankruptcy will not affect customer data management or safety, experts suggest deleting profiles due to potential data exploitation risks. The co-founder and CEO Anne Wojcicki stepped down amid financial turmoil and intends to bid for the company during its restructuring. 23andMe aims to facilitate a sale and reduce its operational footprint, indicating significant changes for the company's future.
What we're witnessing with 23andMe is a stark wake-up call for data privacy. Genetic data isn't just a bit of personal information - it is a blueprint of your entire biological profile. When a company goes under, this personal data is an asset to be sold with potentially far-reaching consequences.
In a statement on social media, Wojcicki said that she resigned as CEO to be 'in the best position' as an independent bidder.
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