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New York Post
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FTC concerned about privacy protections in 23andMe bankruptcy

1. 23andMe filed for bankruptcy amid weak demand for testing kits. 2. FTC is concerned about potential data sale post-bankruptcy. 3. California AG urges customers to delete their genetic data. 4. A data breach affected nearly 7 million customers this year. 5. Privacy policies hint at potential data sales to other firms.

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FAQ

Why Very Bearish?

23andMe's bankruptcy reflects failing demand and customer trust issues, similar to past tech failures where consumer data concerns led to declines.

How important is it?

The news significantly affects public perception and trust in genetic data services, which could influence overall market health for this sector.

Why Long Term?

The long-term impact centers around ongoing trust issues and potential market retraction in consumer genetic services.

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