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This story makes 23andme sound like a non-fraud version of Theranos, with some of the same issues around business viability, dodging the FDA, relentless PR and funding from rich friends.

If a healthcare startup get shout-outs from Oprah, SNL and branded Barbie dolls, is that a bad sign?

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If Theranos devices had been able to do what they claimed the business model was clear and likely very profitable.

I don’t understand how anyone ever thought 23andMe had a viable business model selling a test that only needed to be done once(and apparently selling it at a loss to boot)

The "if" was the entire scam though. They hired many smart people, and every one of them said that the proposed design was physically impossible to build.

There's a reason that these complex undertakings are made by boring conglomerate companies that have decades of experience in the industry, produce many different products in that sector, and whose CEOS don't try to get on the covers of magazines.

Precisely. Yes, breakthroughs get made by smaller companies and "outsiders" every so often, but the thing is, to these testing companies - there's billions in profit and improved logistics by figuring out "nano" collection. It wasn't that they weren't interested. They've tried, for decades. But in the end, biology and physics are winning out.

Forbes listing is a big red signal

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