23andMe co-founder Linda Avey expressed her disappointment in the company's trajectory in a recent LinkedIn post, highlighting the lack of proper governance and product development.
Company's Bankruptcy and CEO Resignation
The biotech company filed for bankruptcy, leading to the resignation of CEO Anne Wojcicki, marking a significant shift in its leadership.
Missed Potential and Reflection
Avey mourned the missed opportunities and potential of what 23andMe could have achieved, criticizing the former CEO's decisions that contributed to the company's downfall.
Origins of 23andMe
Avey shared insights into the inception of 23andMe, which stemmed from her background in life science research and the desire to provide personalized genetic information to individuals.
Disagreements and Governance Issues
Avey detailed her departure from the company in 2009 and expressed her frustrations with the direction the company took under Wojcicki's leadership, particularly highlighting governance issues.
Lost Direction and Consumer Focus
She emphasized that 23andMe veered off course by neglecting consumer-focused product development and lacking proper governance, ultimately failing to fulfill its potential.
Importance of New Leadership
Avey underscored the need for new leadership and a secure platform to honor the data of millions of users who believed in the company's vision.
Lessons Learned and Balanced Leadership
Reflecting on the cautionary tale of 23andMe, Avey stressed the significance of balanced leadership and the interplay between founder control and board oversight for sustainable growth.
23andMe faced significant challenges leading up to its bankruptcy filing, including privacy concerns and data breaches that eroded user trust. The company underwent restructuring and staff layoffs as it sought a buyer to navigate its financial and operational challenges.
Despite its setbacks, the story of 23andMe serves as a reminder of the importance of strategic decision-making, governance, and consumer trust in the digital health landscape.
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By: ledmonds@businessinsider.com (Lauren Edmonds)
Title: 23andMe Co-founder Criticizes Company’s Downfall
Sourced From: www.businessinsider.com/23andme-cofounder-linda-avey-company-lost-way-2025-3
Published Date: Wed, 26 Mar 2025 23:20:33 +0000
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