Let's start with this week's chaotic events surrounding the bankrupt genetic testing startup, 23andMe Holding Co.:
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Monday: 23andMe Files For Bankruptcy, CEO Resigns – Fate Of Americans' DNA Data Now In Court-Supervised Sale
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Tuesday: US Official Alleges 23andMe Sold Americans' DNA Data To Pharma Companies Owned By Foreign Adversaries
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Wednesday: 23andMe Customers Panic To Delete Genetic Data
Fast-forward to Thursday: Bloomberg reports the worst fear for 15 million 23andMe customers: US Bankruptcy Judge Brian C. Walsh has granted the defunct genetic testing startup permission to sell its massive genetic database, potentially ending up in the hands of private equity firms that will find new ways to monetize the sensitive data.
Here's more from the report:
More color:
23andMe's shares in New York have been on a rollercoaster—from the bankruptcy news that sent them crashing below $1 at the start of the week to erupting as much as 158% earlier today after the judge granted the defunct startup permission to sell customer data…
The takeaway for consumers is to never hand over your biometric data to corporations, the government, or anyone else—those who did are now on a list that will be sold to the highest bidder.