Hi, I'm Kate Northrup from J.P. Morgan.
And I'm here at J.P. Morgan's 36th Annual Healthcare Conference in San Francisco.
Joining me today is Anne Wojcicki, the Co-Founder and CEO of 23andMe,
the personal genetics testing company.
We'll find out why she's here today and how her company continues to disrupt the healthcare industry.
So Anne, thank you so much for being here today.
Thanks for having me.
Great to see you.
So to start us off, tell us a little bit about why you're here in San Francisco at the conference.
Well, it's my 21st time coming to this conference.
I love this conference.
In some ways, like, this is the epicenter of where healthcare kicks off the year.
So, I'm here for the conference.
I spoke yesterday.
And it's a spectacular set of meetings of, like, everyone in healthcare talking about--
essentially, it's almost like New Year's resolutions.
Like, you come here and this sets off the tone for the year.
So Anne, tell us, why did you decide to start 23andMe back in 2006?
I love healthcare.
I find it's like a fascinating-- it's a book.
Like, you get this whole story.
And at some point, I started to realize that this system, this $3 trillion industry that's filled
with do-gooders and people who really care and want to make a difference in the world,
that the incentives just point them in the wrong direction.
And I would over and over again meet with a company where, in my opinion, like, just
wasn't doing the right thing.
And I think part of that came because I think the consumer voice was not represented.
I was really inspired by the HIV community, and there was a great movie called How to Survive a Plague.
And in some ways, like, that angry activism I think needs to come out in healthcare.
Like, the consumers need to almost have an uprising.
And I felt like there was an opportunity when I saw the genome was getting inexpensive and
I saw this, you know, like, Web 2.0, the social movement that people could find each other,
they could come together online.
And I was like, there's an opportunity for a revolution.
And like, that's what I want to do.
Like, I grew up with a family that was really-- they're immigrants, they're really passionate.
And there's nothing more important than your health.
And for me to walk into hospitals and seeing people in my mind, like,
not getting what was actually best for them
because of a financial incentive, like, it just morally didn't sit with me.
And so for me, 23andMe kind of started out of this passionate anger that,
we're going to do what's right for the consumer,
and we're going to lead this consumer revolution in healthcare.
So 23andMe has been around since 2006 when you co-founded it, and you have now over 3 million users.
Tell us a little bit, over the last decade, have people been coming for
the more ancestry information or more of the personal health information?
Well, I'd say we've had quite a ride over 10 years.
When we first launched, we were the first people to introduce genetics to people.
And you know, to the direct-to-consumer world.
And I'd say people really didn't know, like, why would you ever want your DNA?
And in the early days, we gave people everything.
You know, we gave people health information, the ancestry.
And what we find is that your DNA is like-- it's the digital representation of you.
And so at different points in your life, you have different interests.
And so at different points, you know, people are really interested in the ancestry.
And you know, if someone in your family ends up being sick, you become really interested in the health.
Or if you know that there is a condition, you're interested in the health.
So we've had times where we've had a lot more people interested in the ancestry,
and now that we have some of our FDA authorizations, more and more we have a lot of people seeing
the value of what comes with genetic medical information.
And so I'd say it's a real balance of almost 50-50 now.
And just speaking of the FDA, I know you had to take a step back a little bit and work through that.
Can you tell us a little bit about that experience?
Mm-hmm.
We had-- so in 2013, we got what we, in some ways, I would say fascinating--
It's one of the most widely read ever FDA warning letters.
And we had been in business for a number of years, and the FDA asked us to stop returning information
back to customers.
So it wasn't that we couldn't sell anymore, but we couldn't interpret it to customers.
You know, I think when the-- and I'm really proud now, because you know, four years later,
we have pioneered really this path, the direct-to-consumer path for consumers,
for individuals to get access to their genetic information.
And for me, it was really important to develop a consumer-centric business in health care.
And for me, if you really want to change-- my experience of investing in health care companies for 10 years
was that it's this B2B business where very rarely does the consumer ever get to have a choice.
But if we want to change health care, the consumers have to have a voice.
Like, we all care much more about our health than any one company cares about your health.
And so if you want to drive change, like, you need to be the change maker.
So it was really important for me to work with the FDA and come up with a path
for a direct-to-consumer genetic testing product.
And so I'm really proud now that we have a number of authorizations.
You can buy 23andMe in a retail, in a pharmacy, at aWalmart or online or on Amazon.
And you don't need a physician or a genetic counselor.
It's affordable, it's direct access, and it's not through insurance.
That sounds fantastic.
I think so.
[LAUGHTER] Many of your customers-- in fact, 85% of them--
opt into the research component, which I know is a very big part of 23andMe.
And just recently, you launched a new relatively recent study on
basically genetic impact on weight, exercise, diet.
Tell us about the significance of that.
Mm-hmm.
So in 2009, we actually launched what we originally called 23andWe,
which was this idea of crowd-sourcing research.
And I had learned when I was investing, you know, research is mostly done by academics
and it's done by pharma companies.
But you know, you might have specific interests, and you might have--
like, if you have a condition, you want to participate.
You want to participate even more.
And I had found that people who have a chronic, unmet need or they have a terminal illness,
they really want to participate.
They want to do something.
And so the idea here was almost like the Facebook of health care, or you know, like, the LinkedIn movement.
Like let people come together on their own.
Don't just let it be the academics and the pharma and the biotech.
Like, we want to participate, and we want to do more.
And then 23andMe will partner with all those companies to make sure that all that data's being used.
So we now have over 3 million customers, 85% consent for research.
We ask our customers to fill out surveys.
So we're getting on going longitudinal data from all of our customers,
so we learn a ton about them, and we can do now amazing research.
So in the beginning of this year, we launched one of our first interventional studies.
So it's a weight loss intervention.
So we have six arms of the study.
We're asking customers to, you know, choose one of three different weight loss arms,
or they get assigned to one of three different weight-loss arms.
And we're looking to see, why do some people lose weight on a low-carb diet?
Why do some people lose weight on a low-fat diet?
And so we're looking to see, is there a genetic basis to diet and weight loss?
So we really thought-- and that's the kind of thing also that represents a consumer'sinterests.
There's not necessarily, is there a monetization in that?
But what we do is we really represent what consumers are interested in and what impacts your life.
And so the consumers get this data, and are you finding that they're changing their behavior
because of the data?
And how are you tracking that?
People want to change their behavior.
And I think there was a study that came out of Harvard by Robert Green, and he actually
had looked at our customers, and he saw that over 50% of people were getting their genetic information,
and then they wanted to make a behavior change.
They'd go to the doctor and it was a dead end.
And so part of what really excites me is this partnership between 23andMe and the retail world.
Because the reality is, if you want to change your behavior, it's less about your doctor
saying like, hey, you should stop eating this and exercise more.
Like, that's a decision that you make at Walmart.
Like, you go and you actually start-- like, you buy something, you know?
It's like running shoes, aisle 4.
Yoga mats over here.
Or you know, Lululemon has a running club.
Like, that's actually how you start to change your behavior.
And so more and more, we want to help people link up your information.
And like, if you want to change your behavior, here's a community of people who are going
to help you change that.
And so that's more and more the types of partnerships that we're starting to do.
And how are your consumers interacting with each other, if they are interacting?
How does that work?
We love-- like, we encourage our customers, if you want to share your data;
we find it's a very social experience.
People are very proud of their Neanderthal status.
You know, how much Neanderthal they have, they post it on Facebook.
They post it on social media.
You know, one of the things that's fun is, like, it almost destigmatizes genetics.
We want people-- we want to foster this lovely, nerdy interest in science and get people excited
about what they're doing, what they're participating in.
So we did a study, for instance, on depression.
400,000 people participated in it.
And it was widely tweeted by our customers,
in part because it was the largest-ever depression study, 400,000 people.
And we made really significant findings, and people felt a sense of pride about what they had contributed to.
So we find that people are contributing, are sharing with each other in terms of the research side.
People are sharing in terms of what their own individual results are.
And then people love to connect and say, like, maybe you and I are related.
And so we can only find that out, it's like, if you spit and I spit, and then we share.
And then maybe we're related.
It's fascinating.
And it sounds like in a number of cases, there may be a fairly large element of surprise
where someone finds out that they're related to an uncle that they had no idea about.
Do you find that that happens quite often?
I'd say the number one surprise for people is people almost always show up and they say,
I thought I was from this British family, and you know, I thought I was through and through
in this community, and I have this diversity.
And I think one of the most interesting things that's happening is a redefinition of race.
And what does it actually mean to be African American?
What does it mean to be Latino?
What does it mean to actually be European?
Like, the reality is we're all related.
Like, every single one of us, there is a global family tree.
Like, we all have DNA in common.
We all have common ancestors.
And so what is that definition of race?
And how do you define-- like, we're also a hodgepodge.
And so I think that's part of what I find is really interesting.
That's the most surprising thing I think that people find is they thought they had this identity,
and we really change that sense of identity.
And frankly, I think we really change it for the better.
Like, people become much more open and look at the world and say, like, wow.
Like, I'm a citizen of the world.
I'm not necessarily just a citizen of this specific community.
And now 23andMe, obviously, huge strides in research and you've also been exploring drug development.
Can you talk a little bit more about that and what's on the horizon?
Mm-hmm.
When we started the company, part of the goal was to see,
could we actually dramatically accelerate the pace of research,
meaningful research, for consumers?
And the idea was, how can we-- does data make a difference?
And if we start especially with human data and massive amounts of human data,
could I develop drugs more effectively than the industry?
And so today, you know, with the 3 million customers that we have and the data points,
we have a huge data set on a number of different diseases.
So we're looking at that to see, can we actually develop drugs?
So we have eight discoveries that we have moved into the clinic.
Or not into the clinic, but into research, and we're hoping to keep moving more.
And I think it will be really exciting for our customers to know that because of their
contribution, they've been able to have an impact on a disease area
that either affected them or affects someone that they know.
That's really interesting.
When you think about 23andMe, call it five years down the line, 10 years down the line,
what does that look like?
Like, what I hope-- like, I see us really as an activist organization for consumer health.
And my hope more and more as we have critical mass of individuals is that we become
kind of like a loud and angry voice for consumer rights in health care and driving change.
So for instance, you know, we just had a discussion earlier about medical records.
Being able for you to get access to your medical record,
being able for you to actually be the point person in your health care.
Like, what else can you-- like, do you really need to go to a physician to get a blood test?
You know, like, I know I go in, I get regular thyroid tests.
Like, why do I always need a physician order?
So I think what I see our role as is, like, we're really passionate about consumer rights in health care,
and making you more and more in control of yourself.
And I draw a similarity, like, it's almost like the wall coming down in communism
that health care is right now regulated by-- like, you have a figure who makes decisions for you.
And as that wall comes down, like, more and more, you're in charge.
And that's what we're advocating for.
We're advocating for that kind of world.
And so I see a whole new world emerging.
Consumer empowerment.
Correct.
So you've been a leading CEO for some time now, a leading female CEO,
particularly in a space, technology, health care that's been more male-dominated.
How have you forged a path through that?
We're always aware that we are a female.
I think we were lucky, because I think we were raised in a relatively gender-neutral household,
but it never felt like an inhibition.
And when I went to college, it was very clear.
I met people who had more of a notion of, oh, well, you can't do this.
And I mean, the reality is it's perseverance, you know?
You stay.
You're persistent.
Like, that's one thing for me.
Like, I don't let it get me down, and I'm persistent.
And I'm really lucky.
Like, one thing I advise younger people on is you find a community of people who are supportive of you.
And I've said in the past, you know, there's men, there's women,
and you just try to work with men and women.
And when you find that community, there's like, both genders can be super supportive.
And for me, I've never been afraid of quitting.
You know, quitting a job or in saying, this is not the right environment for me.
I'm going to find a better environment.
And so it's really-- you know, I've been lucky.
I've worked with some really great people.
You know, it's all about the environment that you've kind of grown up in that gives you
that confidence and gives you the confidence to persevere.
And what advice do you have for our viewers,
particularly those that are just starting off in their careers?
And we have a number of younger female viewers.
Mm-hmm.
I always advise people-- like, I'm really lucky.
And I look at my sisters, like, we're all lucky that we do what we love.
And I remember somebody telling me at some point, like, you have to wake up every day and do something.
Like, you want to find what you love.
I was lucky as well.
Like, my parents, if I didn't love what I was doing and I stopped learning, you know,
there was no stigma for me of quitting and saying, I'm going to find something else.
And so I encourage people, and I encourage people at 23andMe as well to say,
you should be in an environment where you're supported and where you're always learning.
And if I can't provide you the opportunity to keep learning, it's not the right opportunity then.
Like, you want to keep learning all the time.
And I'm a huge believer that everyone's great at something.
And if you're not great at what you're doing, it's potentially just not the right fit.
But everyone, everyone is great at something.
So it's just a matter of finding what it is.
And as the CEO of 23andMe, how do you inspire your team?
By believing them.
I believe in their potential.
I have a really phenomenal group ofpeople who are really capable.
And it doesn't all-- like, we have conflict and things--like,
we make mistakes and things don't always go right.
But fundamentally, I trust them.
Like, when you're trusted, I think people rise to the occasion.
And I love, like-- it's a partnership.
I never say people work for me.
Like, we're partners. And we have this amazing machine that is really transforming health care.
And I think I inspire them or I try to inspire them by, like I said, I believe in them.
I trust them.
And you know, I'm passionate about our mission, you know?
I'd rather sink the ship than drop our mission.
Words to live by.
Thank you so much for being with us.
It's been great.
Thanks.
Thank you so much for tuning in today.
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