Why 23andMe, Once a Silicon Valley Darling, Is Struggling to Profit

WSJ Tech News Briefing

The Wall Street Journal

News, Tech News

4.3 • 1.7K Ratings

🗓️ 2 February 2024

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

23andMe was once one of the hottest startups in Silicon Valley. It was founded on the idea that genetic tests can help people understand their health, and the company’s test kits became popular gifts. But while CEO Anne Wojcicki has made some big bets, 23andMe’s inability to turn a profit means that it could run out of money before it can accomplish its most ambitious goals. WSJ reporter Rolfe Winkler joins host Alex Ossola to talk about 23andMe’s trajectory, and what it will take to turn the company around. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Like some kind of Pizza Ninja, Domino's are slicing their prices.
0:05.0	Domino's price slice.
0:07.0	Small pizzas now 8 quid, medium now 10 quid,
0:10.0	and large now 12 quid.
0:12.0	Yet we're making cuts too.
0:14.0	In 11th of February 24, minimum delivery spend charges and areas may apply.
0:18.0	Tous and see, see Domino's dot code.
0:20.0	UK. Welcome to Tech News Briefing. It's Friday, February 2nd. I'm Alex Oscela for the Wall Street Journal.
0:30.0	Coming up on today's show, need help deciding what to read or watch next,
0:34.4	we'll find out how artificial intelligence can give you personalized recommendations,
0:38.6	if you know how to ask.
0:40.2	W.S.J. contributor Alexandra Samuel joins us.
0:44.0	And then, just a few years ago, 23 and me was one of Silicon Valley's hottest startups.
0:49.0	But the DNA testing company's valuation has crashed 98% from its $6 billion peak.
0:55.0	W.S.J. reporter Rolf Winkler tells us what happened at 23 and me and what it will take to turn the company around.
1:05.8	But first, there have never been more books to read, more TV and movies to watch, and more
1:10.4	podcasts to listen to.
1:12.2	But that can also mean that figuring out what to consume next
1:15.0	can feel daunting.
1:16.4	Luckily AI can help.
1:18.3	W.S.J. contributor Alexandra Samuel joins us now with more.
1:22.3	Alex, what can AI offer that other recommendations can't?
	...

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