“Unlocking the Value of Your DNA: Why Companies Are Eager to Buy 23andMe and Your Genetic Data” | CNN Business

On March 23, 23andMe, a well-known name in home genetic testing, declared Chapter 11 bankruptcy. This announcement left its 15 million customers with a big question: What happens to their genetic information?

Privacy advocates, along with two state attorneys general, have urged users to delete their data. They fear for the safety of personal information, even though 23andMe assures that its data handling practices won’t change post-bankruptcy.

Experts suggest there’s significant interest from companies and researchers in the vast genetic data that 23andMe holds. This information can unlock insights about a person’s health risks and even preferences. For instance, a study from the University of Edinburgh identified numerous genetic factors linked to specific food preferences. Katie Hasson, from the Center for Genetics and Society, emphasizes that genetic data is unique and can offer insights even about future generations.

Despite the concerns, 23andMe insists that any potential buyer of the company will be required to follow strict privacy laws regarding customer data. The company intends to keep selling its testing kits and subscriptions.

Gideon Nave, a marketing professor at the University of Pennsylvania, highlights that firms can use this data to tailor products and advertisements effectively. Genetic data can reveal truths that grocery purchases might not, as what’s in your cart could be for someone else.

Moreover, genetic information isn’t just about individual preferences; it can help identify health risks. 23andMe provides insights on predispositions for various diseases, which can be invaluable for medical research. Vasant Dhar, a data science professor at NYU, believes integrating genetic data with clinical information can lead to better diagnoses. He points out that many diseases share similar symptoms, making precise insights crucial for effective treatment.

While the Genetic Information Nondiscrimination Act protects against certain uses of genetic data, gaps remain. There are fewer protections against genetic discrimination in contexts like disability insurance. The increasing use of online genetic databases by law enforcement has also raised alarm bells about privacy rights.

This isn’t the first time a genetic company has changed hands. Ancestry.com was acquired by private equity firm Blackstone in 2020. What sets 23andMe apart is that its genetic data doesn’t have an expiration date. This means that the information could be relevant for years to come, potentially influencing advertising and consumer targeting in ways we can’t yet foresee.

There’s a hidden risk here: as Dhar pointed out, the extensive knowledge gained from genetic data could be exploited. With such powerful insights at their disposal, companies could understand far more about individuals than they may realize—raising significant ethical questions about consent and usage.

In conclusion, while 23andMe’s bankruptcy raises critical privacy concerns, it also highlights the immense value of genetic data. As we step further into a world where our genetic makeup can be intertwined with technology and business, the conversation about how we protect and use this data is more vital than ever.

For more information on the implications of genetic data usage, you can refer to this report by The Brookings Institution.

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