Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Good morning. I'm Tony Cruz News Radio A forty whas
Kentucky outas Morning News. We're rolling on here. Peter Harrlumbus
from ABC News is joining us this morning. So we
out a bankruptcy filing by the genetic testing in biotechnology
company twenty three ande meters and talks are of a
possible sale, shining a spotlight on where's all this information
(00:23):
going to go? Good morning to you, Peter. What do
you think about what's happening right now?
Speaker 2 (00:27):
Good morning, Thanks so much for having me. It's a
tricky situation. This company is finding itself in a matter
of a few years ago, who was valued over six
billion dollars. Today it's stock prices trading at less than
one dollar a share. And is there now this lingering
concern that if this company were to get all floaded
through a bankruptcy proceeding, its most valuable asset might be
(00:49):
all of the DNA data it's harvested basically from its
customers over the last few years, and whether or not
that database poses any kind of privacy risk, all of
the full the millions of users who've used the company
over the last few years.
Speaker 1 (01:03):
So doesn't twenty three and meter already have not implied
but a solid, tight agreement with those people who made
the purchase of you know, their ancestry.
Speaker 2 (01:16):
Yeah, that's exactly right. And the company is vowing to
protect the privacy of its customers information and that they
wouldn't share it with any third parties. But the concern
I guess at this point is that if the company
were to get scrapped for parts at this point, because
it's going to bankruptcy proceedings, if we're to get sold
(01:38):
over to another company or a company that doesn't necessarily
have the same values, whether or not that kind of
those agreements that privacy still stands, or whether or not
that's going to be tossed to the wind. And you know,
the implications for this kind of data, especially in terms
of healthcare, are kind of staggering. This idea that you know,
you're talking about a genetic profile for ten of millions
(02:00):
of Americans, stuff that could implicate insurance and healthcare coverage,
things that could get rather tricky over the next few decades.
Speaker 1 (02:09):
Yeah, our genomes that might you know, to your point,
lead or could lead more to cancer or more prone
to cancer or some other ailments perhaps, But It seems
to me that that would fly in the face of
hippo rules and laws in our United States.
Speaker 2 (02:28):
You know, one would hope that where the case, But
unfortunately this data isn't really protected by HIPPA. This is
a commercial entity. The idea of that kind of privacy
guaranteed in a medical setting doesn't really exist here twenty
three and meters, you know, is it? Kind of on
these classic Silicon Valley startups. While they did get FDA
(02:49):
approval for their testing, they never really established themselves in
the same way that you'd be able to go to
a doctor and have a degree of trust you with
your with doctor patient's confidentiality with HIPPA. In this case,
this company is basically found by its word at this point,
and that word might not be worth much if the
(03:11):
company is sold for parts.
Speaker 1 (03:13):
So with that, I saw on USA today that March
twenty first, California Attorney General Rob Bonta issued a consumer
alert to the state's twenty three AE meters customers, given
the company's financial distress, reminding them of their right to
have their genetic data deleted. Can twenty three and meter
delete all of their data?
Speaker 2 (03:36):
That's right, and there is a process for you to
do this, and in fact, attorneys general in California and
New York are now recommending that any one basically who
use this system over the last few years go log
into their accounts and follow these steps to make sure
you delete the data. You have to go to your
actual settings, you have to look at your own data,
You have to confirm that you permanently want to delete
(03:58):
your data. And one critical thing is you have to
keep an eye out for an email in your inbox
confirming that you want that email to lead it. If
you missed that email, the data won't actually be permanently deleted.
But all of those steps, according to folks like the
California and New York Attorney generals, will help in terms
of making sure that even if something happens to this company,
(04:18):
your data will be safe.
Speaker 1 (04:20):
So if people are looking into these other kind of
companies that do this kind of stuff, you know, so
you can find out your background and or you know
the possible ailets that could occur in your family tree,
et cetera. What's recommended and is it time for maybe
Congress to get involved with laws that protect US citizens
(04:41):
from the craftiness of something you know that maybe, you know,
just terrible.
Speaker 2 (04:49):
In this case, Yeah, in this case, it certainly seems
like legislation might be necessary, especially because twenty three and
meters is just one of many of these kind of companies.
I think, you know, at the end of the day,
you have to think about it from the perspective of
their own business model. So these are companies that you know,
very quickly over the last ten years, were able to
bring down the costs of these genetic test kits where
(05:10):
they can learn so much about you from just this,
you know, a small sample of your saliva. But at
the end of the day, the financial issue that they're
all encountering is the fact that that's a one time
payment and you know, there's not really return customers once
you get your GNA tested. Once that's about it. So
that leaves these companies with really the only really valuable
(05:32):
asset they still have is this massive repository of DNA information,
and that could be something that is financially, you know,
financially incentivizing for another company and could mean endangering your
own private health information.
Speaker 1 (05:48):
Just a note, and I know we're going along. I'm
sorry Peter for that, but what about these other companies
that draw our blood for example, those kinds of things.
I don't want to say their names out loud, but
can Americans also can insurance companies get those or go
to those? I think we have to go? Yeah, you
had to go? Sorry, go ahead, I'm sorry.
Speaker 2 (06:11):
It depends. So if it's like if it's blood testing,
for example, from the lab that's protected by HIPPA, but
these other companies that are running under a similar model,
unfortunately it's the same kind of agreement where HIPPA doesn't apply.
Speaker 1 (06:23):
Okay, appreciate your time. That's very good information. That's Peter
Harlan who's always given us great information for ABC News.
Thank you for your time. Coming up on eight twelve
The News Radio A forty whs. So, yeah, that's really
interesting because you know, we all go if you go
to your health provider and you get your blood samples,
you know, and all that kind of stuff, it might
(06:44):
be time to start, you know, asking where else does
this go, Particularly insurance companies, you know, they're always looking
for an angle not to pay. It might be something
that we all need to start thinking about. A twelve
The News Radio A forty whas. We'll get a check
of sports with Scott a drill coming up soon.
Good morning. I'm Tony Cruz News Radio A forty whas
Kentucky outas Morning News. We're rolling on here. Peter Harrlumbus
from ABC News is joining us this morning. So we
out a bankruptcy filing by the genetic testing in biotechnology
company twenty three ande meters and talks are of a
possible sale, shining a spotlight on where's all this information
(00:23):
going to go? Good morning to you, Peter. What do
you think about what's happening right now?
Speaker 2 (00:27):
Good morning, Thanks so much for having me. It's a
tricky situation. This company is finding itself in a matter
of a few years ago, who was valued over six
billion dollars. Today it's stock prices trading at less than
one dollar a share. And is there now this lingering
concern that if this company were to get all floaded
through a bankruptcy proceeding, its most valuable asset might be
(00:49):
all of the DNA data it's harvested basically from its
customers over the last few years, and whether or not
that database poses any kind of privacy risk, all of
the full the millions of users who've used the company
over the last few years.
Speaker 1 (01:03):
So doesn't twenty three and meter already have not implied
but a solid, tight agreement with those people who made
the purchase of you know, their ancestry.
Speaker 2 (01:16):
Yeah, that's exactly right. And the company is vowing to
protect the privacy of its customers information and that they
wouldn't share it with any third parties. But the concern
I guess at this point is that if the company
were to get scrapped for parts at this point, because
it's going to bankruptcy proceedings, if we're to get sold
(01:38):
over to another company or a company that doesn't necessarily
have the same values, whether or not that kind of
those agreements that privacy still stands, or whether or not
that's going to be tossed to the wind. And you know,
the implications for this kind of data, especially in terms
of healthcare, are kind of staggering. This idea that you know,
you're talking about a genetic profile for ten of millions
(02:00):
of Americans, stuff that could implicate insurance and healthcare coverage,
things that could get rather tricky over the next few decades.
Speaker 1 (02:09):
Yeah, our genomes that might you know, to your point,
lead or could lead more to cancer or more prone
to cancer or some other ailments perhaps, But It seems
to me that that would fly in the face of
hippo rules and laws in our United States.
Speaker 2 (02:28):
You know, one would hope that where the case, But
unfortunately this data isn't really protected by HIPPA. This is
a commercial entity. The idea of that kind of privacy
guaranteed in a medical setting doesn't really exist here twenty
three and meters, you know, is it? Kind of on
these classic Silicon Valley startups. While they did get FDA
(02:49):
approval for their testing, they never really established themselves in
the same way that you'd be able to go to
a doctor and have a degree of trust you with
your with doctor patient's confidentiality with HIPPA. In this case,
this company is basically found by its word at this point,
and that word might not be worth much if the
(03:11):
company is sold for parts.
Speaker 1 (03:13):
So with that, I saw on USA today that March
twenty first, California Attorney General Rob Bonta issued a consumer
alert to the state's twenty three AE meters customers, given
the company's financial distress, reminding them of their right to
have their genetic data deleted. Can twenty three and meter
delete all of their data?
Speaker 2 (03:36):
That's right, and there is a process for you to
do this, and in fact, attorneys general in California and
New York are now recommending that any one basically who
use this system over the last few years go log
into their accounts and follow these steps to make sure
you delete the data. You have to go to your
actual settings, you have to look at your own data,
You have to confirm that you permanently want to delete
(03:58):
your data. And one critical thing is you have to
keep an eye out for an email in your inbox
confirming that you want that email to lead it. If
you missed that email, the data won't actually be permanently deleted.
But all of those steps, according to folks like the
California and New York Attorney generals, will help in terms
of making sure that even if something happens to this company,
(04:18):
your data will be safe.
Speaker 1 (04:20):
So if people are looking into these other kind of
companies that do this kind of stuff, you know, so
you can find out your background and or you know
the possible ailets that could occur in your family tree,
et cetera. What's recommended and is it time for maybe
Congress to get involved with laws that protect US citizens
(04:41):
from the craftiness of something you know that maybe, you know,
just terrible.
Speaker 2 (04:49):
In this case, Yeah, in this case, it certainly seems
like legislation might be necessary, especially because twenty three and
meters is just one of many of these kind of companies.
I think, you know, at the end of the day,
you have to think about it from the perspective of
their own business model. So these are companies that you know,
very quickly over the last ten years, were able to
bring down the costs of these genetic test kits where
(05:10):
they can learn so much about you from just this,
you know, a small sample of your saliva. But at
the end of the day, the financial issue that they're
all encountering is the fact that that's a one time
payment and you know, there's not really return customers once
you get your GNA tested. Once that's about it. So
that leaves these companies with really the only really valuable
(05:32):
asset they still have is this massive repository of DNA information,
and that could be something that is financially, you know,
financially incentivizing for another company and could mean endangering your
own private health information.
Speaker 1 (05:48):
Just a note, and I know we're going along. I'm
sorry Peter for that, but what about these other companies
that draw our blood for example, those kinds of things.
I don't want to say their names out loud, but
can Americans also can insurance companies get those or go
to those? I think we have to go? Yeah, you
had to go? Sorry, go ahead, I'm sorry.
Speaker 2 (06:11):
It depends. So if it's like if it's blood testing,
for example, from the lab that's protected by HIPPA, but
these other companies that are running under a similar model,
unfortunately it's the same kind of agreement where HIPPA doesn't apply.
Speaker 1 (06:23):
Okay, appreciate your time. That's very good information. That's Peter
Harlan who's always given us great information for ABC News.
Thank you for your time. Coming up on eight twelve
The News Radio A forty whs. So, yeah, that's really
interesting because you know, we all go if you go
to your health provider and you get your blood samples,
you know, and all that kind of stuff, it might
(06:44):
be time to start, you know, asking where else does
this go, Particularly insurance companies, you know, they're always looking
for an angle not to pay. It might be something
that we all need to start thinking about. A twelve
The News Radio A forty whas. We'll get a check
of sports with Scott a drill coming up soon.
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