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- 23andMe goes bankrupt
Good morning, tech enthusiasts. Genetic testing company 23andMe—which was once valued at over $6 billion but was soon left in shambles due to a major data breach—just filed for bankruptcy.
However, if the company is sold, what happens to the sensitive data of its 15 million customers? While people are flocking to quickly delete their accounts, doing so is easier said than done.
In today’s tech rundown:
23andMe files for bankruptcy
Samsung’s AR smart glasses
Tesla’s European sales take a hit
Microsoft’s quantum chip sparks debate
Quick hits on other major news
LATEST DEVELOPMENTS
23ANDME
Image source: 23andMe
The Rundown: Genetic testing company 23andMe filed for Chapter 11 bankruptcy protection on Sunday, marking a dramatic turn of events for the once-pioneering biotech firm—and raising concerns about the genetic data of its 15M customers.
The details:
23andMe, which allowed customers to explore their genetic makeup through saliva samples, cited ongoing financial struggles as the reason for the decision.
Co-founder and CEO Anne Wojcicki resigned this week following unsuccessful attempts to privatize the company amid ongoing financial struggles.
The company’s trouble started in 2023, when it suffered from a massive data breach that exposed the personal information of nearly 7M customers.
23andMe was valued at $6B after going public in 2021, but it all fell to less than $50M by the time the company filed for bankruptcy.
Why it matters: While 23andMe assures it will protect the data of all customers during the transition, those seeking to remove it could face challenges. Even after receiving deletion requests, the company has to retain at least some data for up to three years—including your genetic info, date of birth, and sex—to comply with legal obligations.
SAMSUNG
Image source: Ideogram/The Rundown
The Rundown: Samsung is reportedly finalizing a new line of augmented reality smart glasses, codenamed “Haean,” with a built-in display and advanced AI features—all set to launch later this year and take on Apple and Meta’s AR devices.
The details:
While Samsung has yet to confirm Haean, rumors suggest the glasses will come with AI features, including gesture recognition and payment capabilities.
They are expected to use multiple cameras and sensors to track user movements and interact with the environment.
On the software side, the glasses are anticipated to run Google's Android XR OS, coupled tightly with Samsung’s smart devices and wearables.
Samsung reportedly plans to launch the glasses by the end of 2025, alongside its upcoming extended reality (XR) headset—Project Moohan.
Why it matters: Positioned to compete with AR industry giants, Samsung’s version promises advanced features like facial recognition, gesture-based controls, and real-time text translation. This launch is also a key move in Samsung’s broader strategy to expand its presence in the XR market.
TESLA
Image source: Tesla
The Rundown: Tesla's European sales dropped by nearly 45% in February, resulting in a market share of just 9.6%—the lowest in five years. Meanwhile, Chinese rival BYD has overtaken Tesla in global revenue, clocking more than $100B in 2024.
The details:
Chinese EV brands sold nearly 20,000 vehicles in Europe last month, compared to Tesla's 15,700 units.
Analysts attribute this downturn to CEO Elon Musk's political involvement with Donald Trump and anti-labor sentiment, which has led to consumer backlash.
Additionally, delays in updates to the Model 3 and Model Y may have caused potential buyers to delay purchases, further impacting sales.
BYD, one of Tesla’s biggest Chinese rivals, recently took a lead in EV revenues and reported $107B in 2024 — a 29% increase from the previous year.
Why it matters: Tesla is feeling the heat from European and Chinese competitors, who are quickly closing the gap in terms of price, features, and overall availability. BYD, despite the newly imposed EU tariffs, is pushing its strategy of low-priced EVs and plug-ins, with sales projections pointing toward rapid growth this year.
MICROSOFT
Image source: Microsoft
The Rundown: Microsoft's recent announcement of Majorana 1 quantum chip, which is said to be powered by topological qubits, ignited a fierce debate among physicists this week, who claim it lacks conclusive evidence.
The details:
At a global physics summit, Microsoft’s quantum lead presented data claiming the chip uses elusive Majorana zero modes to create error-resistant qubits.
Physicists criticized the lack of evidence, noting that Microsoft’s Nature paper explicitly states the results “do not represent evidence for topological modes.”
Skeptics argued that the company’s protocol test could produce false positives, calling the data provided “unconvincing.”
Microsoft’s claims, which CEO Satya Nadella likened to “quantum’s transistor moment,” have drawn comparisons to its 2021 retraction of similar research.
Why it matters: Amazon’s quantum execs have reportedly dismissed the claims as “hype,” and critics warn that overstated breakthroughs risk undermining public trust in quantum computing, especially as Microsoft’s stock surged post-announcement. However, Microsoft maintains its findings are valid and plans to release additional data.
QUICK HITS
📰 Everything else in tech today
Apple announced iOS 18.4 will start rolling out next month with several new features, including lossless audio and ultra-low latency audio to AirPods Max.
Waymo, Alphabet’s autonomous vehicle subsidiary, announced plans to launch its robotaxi service, Waymo One, in Washington, D.C., by 2026.
Han Jong-hee, co-chief executive officer of Samsung Electronics, passed away at the age of 63 due to a heart attack, the company announced.
Tech giant IBM is set to cut around 9,000 U.S. jobs this year, with a significant portion of the roles reportedly shifting to India.
Apple is reportedly exploring the integration of AI-powered cameras into future versions of both the standard and Ultra versions of the Apple Watch.
Fintech startup Alchemy launched a $100M fund to provide content creators with upfront payments based on projected future income.
Revel, a NYC-based EV charging infrastructure startup, launched its first fast-charging station in San Francisco, with plans to expand across the Bay Area soon.
Yale researchers developed a CRISPR technology that can assess genetic interactions on a host of immunological responses to diseases, including cancer.
German startup Isar Aerospace is gearing up to launch its Spectrum rocket, marking the inaugural flight of an orbital launch vehicle from continental Europe.
Yahoo struck a deal to sell TechCrunch, the 20-year-old tech journalism site, to media investment firm Regent for an undisclosed amount.
Twitter's iconic bird logo, which was removed from the company's former San Francisco headquarters, sold for nearly $35,000 at an auction.
A new survey finds that two in five tech workers quit in the past year due to a lack of flexibility concerning hours, location, and the “intensity of work.”
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Rowan, Jennifer, and Joey—The Rundown’s editorial team
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