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<ul class="summary-list"><li>23andMe said it appointed three new independent directors to its board on Monday.</li><li>All seven of 23andMe's previous directors resigned in September over its "strategic direction."</li></ul>23andMe has appointed three new independent directors to its board following the mass resignation of all seven of its previous members last month.The biotech company said in an SEC filing that Andre Fernandez, Mark Jensen, and Jim Frankola had joined the board on Monday. All three appointees will serve on the board's audit and compensation committees.Fernandez previously worked as WeWork's chief financial officer from 2022 to 2023. Jensen was a managing partner at consulting firm Deloitte for 10 years before his retirement in 2012. Frankola worked as chief financial officer at Cloudera, an American data cloud company, from 2012 to 2021 before becoming a strategic advisor from 2021 to 2023.The board's only other member is CEO and cofounder Anne Wojcicki.<div type="image" title="Anne Wojcicki 23andme" height="2368" width="3552" msid="114792211" hostid="261" sizebytes="414616"></div>"I am excited to welcome these three experienced directors to the 23andMe Board, and looking forward to working with them," Wojcicki said in a press release.Once valued at $6 billion, <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/timeline-the-rise-and-fall-of-23andme-2024-10">23andMe has </a><a target="_blank" href="https://www.businessinsider.com/timeline-the-rise-and-fall-of-23andme-2024-10">faced several obstacles</a> recently, including a large user data leak in 2023, declining stock values, and <a target="_blank" class="" href="https://www.businessinsider.com/how-to-delete-your-23andme-data-2024-10">consumer privacy concerns</a>.The seven previous board members resigned in September in a letter addressed to Wojcicki, citing the company's direction.Wojcicki shared a proposal to take 23andMe private in a July SEC filing, which was reviewed by a special committee formed by the board of directors. The special committee responded less than a week later, writing they were "disappointed" in the proposal."Our expectation after months of work was that you would submit a fully-financed, fully-diligenced, actionable proposal that is in the best interests of the non-affiliated shareholders," the letter read.The special committee said it would give Wojcikci time to submit a revised proposal. However, the committee said it had not received the revised proposal in the September resignation letter."While we continue to wholeheartedly support the Company's mission and believe deeply in the value of the personalized health and wellness offering that you have articulated, it is also clear that we differ on the strategic direction for the Company going forward," the letter read.In a statement after his appointment, Jensen said the new board was "ready to dig in" and "act with urgency" to turn things around at the company."23andMe has a great brand, and the Company remains firmly committed to its mission of helping people access, understand and benefit from the human genome," he said.Each new director will receive $1 million in cash compensation, according to the SEC filing.Representatives for 23andMe did not immediately respond to a request for comment from Business Insider.

23andMe appoints new board members as it works to stem the company's slide

<ul class="summary-list"><li>"Watching what's happening in Silicon Valley is insane," Mark Cuban told Jon Stewart in an interview.</li><li>Cuban said that Trump's backers seemed to be taking over, and not just supporting, his campaign.</li></ul>"Shark Tank" star <a target="_blank" class="" href="https://www.businessinsider.com/mark-cuban-sell-dallas-mavericks-leave-shark-tank-2023-11">Mark Cuban</a> has a lot to say about the tech and business titans who are flocking to support former President <a target="_blank" class="" href="https://www.businessinsider.com/trump-78-just-called-himself-fine-brilliant-young-man-2024-7">Donald Trump.</a>"Watching what's happening in Silicon Valley is insane. It's not so much a support thing. It's more like a takeover thing, trying to put themselves in a position to have as much control as possible," Cuban said in an <a target="_blank" class="" href="https://x.com/TheDailyShow/status/1823177433639505969">interview</a> with "The Daily Show" host <a target="_blank" class="" href="https://www.businessinsider.com/jon-stewart-biden-looked-like-resting-25th-amendment-face-2024-6">Jon Stewart</a> that aired on Monday."They want Trump to be the CEO of the United States of America and they want to be the board of directors that makes him listen to them," Cuban added.For the tech billionaires, backing Trump is an extension of their desire to dictate and dominate the environment around them, Cuban said in the interview."They've gotten to the point now where they feel like they should control the world right and that there should be a CEO in charge of everything because they are rich as fuck," Cuban told Stewart."You get to that point sometimes where I think they've lost a connection to real world," he continued.During his 2016 presidential run, Trump relied on venture capitalist and PayPal cofounder <a target="_blank" class="" href="https://www.businessinsider.com/who-is-peter-thiel-svb-facebook-trump-biography-2023-3">Peter Thiel</a> as his most prominent backer from Silicon Valley.But things are a lot more different in 2024. Now, Trump enjoys the support from Silicon Valley bigwigs like <a target="_blank" class="" href="https://www.businessinsider.com/tesla">Tesla</a> CEO <a target="_blank" class="" href="https://www.businessinsider.com/category/elon-musk">Elon Musk</a> and venture capitalists <a target="_blank" class="" href="https://www.businessinsider.com/marc-andreessen-ben-horowitz-plan-trump-pac-donations-report-2024-7">Marc Andreessen and Ben Horowitz</a>."My smartest friends, including those living in the San Francisco Bay Area who have been lifelong Dems, are excited about Trump/Vance," Musk wrote in an <a target="_blank" class="" href="https://x.com/elonmusk/status/1815091075431678146">X post</a> on July 21 about Trump and his running mate, Sen. <a target="_blank" class="" href="https://www.businessinsider.com/trump-vice-president-jd-vance-career-facts-2024-7">JD Vance</a> of Ohio."I believe in an America that maximizes individual freedom and merit. That used to be the Democratic Party, but now the pendulum has swung to the Republican Party," he wrote in a <a target="_blank" class="" href="https://x.com/elonmusk/status/1815092002083471731">follow-up post</a> on the same day.To be sure, Cuban <a target="_blank" class="" href="https://www.businessinsider.com/mark-cuban-supported-trump-until-know-him-better-2024-8">isn't backing Trump</a> in this election.The businessman initially <a target="_blank" class="" href="https://www.businessinsider.com/mark-cuban-will-vote-for-joe-biden-despite-his-age-2024-3">endorsed President Joe Biden</a> before switching to Vice President <a target="_blank" class="" href="https://www.businessinsider.com/inside-life-and-career-of-kamala-harris-bidens-vp-pick-2020-8">Kamala Harris</a>, who took over as the Democratic nominee after Biden dropped out.When Harris unveiled Gov. <a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris-names-tim-walz-vice-president-pick-minnesota-2024-7">Tim Walz</a> of Minnesota as her running mate, Cuban said the Harris-Walz ticket <a target="_blank" class="" href="https://www.businessinsider.com/mark-cuban-2024-election-ivy-league-insiders-versus-outsiders-2024-8">could have an edge</a> over Trump-Vance because of their non-elite academic backgrounds.Both Harris and Walz didn't go to Ivy League colleges, unlike Trump and Vance who went to the <a target="_blank" class="" href="https://www.thedp.com/article/2023/08/penn-trump-indicted-charges-overturn-2020-election">University of Pennsylvania's Wharton School</a> and <a target="_blank" class="" href="https://yaledailynews.com/blog/2024/07/15/j-d-vance-law-13-selected-as-trumps-running-mate/">Yale Law School</a> respectively."People are tired of the ideologues and hate from both parties. They want to vote for normal people they can relate to," Cuban wrote in an <a target="_blank" class="" href="https://x.com/mcuban/status/1820847666458497437">X post</a> on August 6.Representatives for Cuban and the Trump campaign didn't immediately respond to requests for comment from Business Insider sent outside regular business hours.

Mark Cuban says Silicon Valley tech bros have lost their grip on reality and now want to be the board of directors to Trump's CEO

<ul class="summary-list"><li>Bed Bath &amp; Beyond board members were concerned Ryan Cohen was getting insider information.</li><li>Sue Gove, the company's CEO, said in a deposition that she was concerned about Cohen's relationship with board members.</li></ul>Bed Bath &amp; Beyond board members were concerned Ryan Cohen received insider information before making $60 million selling the company's stock, according to a <a target="_blank" href="https://www.courtlistener.com/docket/64916203/120/2/si-v-bed-bath-beyond-corporation/">deposition by CEO Sue Gove</a>."I certainly had questions about that," said Gove, who was named CEO of Bed Bath &amp; Beyond in October 2022. "Probably most" other board members were also concerned that some on the board were funneling insider information to Cohen, Gove added in her testimony as part of a shareholder lawsuit against the activist investor, who is the current CEO of GameStop.Ben Rosenzweig, one of the directors on Bed Bath &amp; Beyond's board, was known to have private contact with Cohen, the deposition said. Their conversations revolved around the personalities of other board members and whether Cohen's nominees for Bed Bath &amp; Beyond's board were let in on calls, according to the testimony.In a conversation with Gove, Rosenzweig indicated he was "representing Ryan," Gove said. She believed Rosenzweig's conversations with Cohen were inappropriate due to his role as an "independent director."Gove said she did "not completely" trust Rosenzweig or Cohen. In particular, she said she was in a "concerned state" when Rosenzweig suggested he was acting as "Ryan's agent.""I didn't trust him. I didn't trust what was taking place," Gove added of Cohen. "There was a lot of things that had taken place between, you know, him and … and Ben and the whole process that always left me uncomfortable. We were very careful with our conversations with him."Rosenweig and other directors, though, have said in their testimonies that they've never given insider info to Cohen. Cohen was given non-public information on one occasion but under an agreement that prevented him from trading on it, Rosenzweig said in his deposition.Lawyers for Cohen and Gove did not immediately respond to a request for comment from Business Insider.Cohen was accused in a shareholder lawsuit of insider trading and misleading Bed Bath &amp; Beyond investors after making a fortune on the stock in 2022, when he sold his stake in the struggling retailer before the stock tanked. <a target="_blank" href="https://www.businessinsider.com/bed-bath-and-beyond-rise-and-fall-photos-2020-1">Bed Bath &amp; Beyond</a> filed for Chapter 11 bankruptcy in April 2023.

Bed Bath & Beyond board members were concerned Ryan Cohen got insider info before his $60 million windfall, new deposition details show

<ul class="summary-list"><li>Two former OpenAI board members warned about <a target="_blank" href="https://www.businessinsider.com/sam-altman-chatgpt-openai-ceo-career-net-worth-ycombinator-prepper-2023-1">CEO Sam Altman</a> and AI safety in an op-ed in The Economist.</li><li>Two current board members wrote a response pushing back on the concerns.</li></ul>This has been the week of dueling op-eds from former and current <a target="_blank" href="https://www.businessinsider.com/history-of-openai-company-chatgpt-elon-musk-founded-2022-12">OpenAI</a> board members.Current OpenAI board members Bret Taylor and Larry Summers issued a response to AI safety concerns on Thursday, stating that "the board is taking commensurate steps to ensure safety and security."The response comes a few days after The Economist <a target="_blank" href="https://www.economist.com/by-invitation/2024/05/26/ai-firms-mustnt-govern-themselves-say-ex-members-of-openais-board">published</a> an op-ed by former OpenAI board members Helen Toner and Tasha McCauley, who criticized CEO Sam Altman and OpenAI's safety practices while calling for a need to regulate AI. The title of the piece argued that "AI firms mustn't govern themselves."Taylor and Summers, the two current members, pushed back against the former directors' claims in a <a target="_blank" href="https://www.economist.com/by-invitation/2024/05/30/openai-board-members-respond-to-a-warning-by-former-members">response</a> that was also published in The Economist. They defended Altman and discussed OpenAI's stance on safety, including the company's formation of <a target="_blank" href="https://www.businessinsider.com/openai-sets-up-safety-committee-starts-training-next-frontier-model-2024-5">a new safety committee</a> and a set of voluntary commitments OpenAI made to the White House to reinforce safety and security.The pair said that they had previously chaired a special committee as part of the newly established board and set up an external review by law firm WilmerHale of the events leading to Altman's ousting. The process entailed reviewing 30,000 documents, along with dozens of interviews with OpenAI's previous board, executives, and other relevant witnesses, they added.Taylor and Summers reiterated that WilmerHale concluded that Altman's ousting "did not arise out of concerns regarding product safety or security" or "the pace of development."They also took issue with the op-ed's characterization that Altman had created "a toxic culture of lying" and <a target="_blank" href="https://www.businessinsider.com/openai-board-member-details-sam-altman-lied-allegation-ousted-2024-5">engaging in psychologically abusive behavior</a>. In the last six months, the two current board members said they had found Altman "highly forthcoming on all relevant issues and consistently collegial with his management team."In an interview published the same day as her op-ed, Toner explained why the former board previously decided to remove Altman, saying that he lied to them "multiple times" and withheld information. She also said that the old OpenAI board <a target="_blank" href="https://www.businessinsider.com/openai-board-learned-of-chatgpt-release-on-twitter-helen-toner-2024-5">found out about ChatGPT's release on Twitter</a>."Although perhaps difficult to remember now, Openai released Chatgpt in November 2022 as a research project to learn more about how useful its models are in conversational settings," Taylor and Summers wrote in response. "It was built on gpt-3.5, an existing ai model which had already been available for more than eight months at the time."Toner did not respond to a request for comment ahead of publication. OpenAI did not respond to a request for comment.OpenAI supports "effective regulation of artificial general intelligence" and Altman, who was reinstated only days after his ousting, has "implored" lawmakers to regulate AI, the two current board directors added.<a target="_blank" href="https://www.businessinsider.com/openai-chatgpt-sam-altman-world-not-far-potentially-scary-ai-2023-2">Altman has been advocating for some form of AI regulation</a> since 2015, more recently saying he favors the formation of an international regulating agency — but he's also said he's "super nervous about regulatory overreach."At the World Government Summit in February, Altman <a target="_blank" href="https://www.youtube.com/watch?v=15UZCAr3shU">suggested</a> a "regulatory sandbox" where people could experiment with the technology and write regulations around what "went really wrong" and what went "really right."OpenAI has seen multiple high-profile departures in recent weeks, including machine learning researcher <a target="_blank" href="https://www.businessinsider.com/jan-leike-ilya-sutskever-resignations-superalignment-openai-superintelligence-safe-humanity-2024-5">Jan Leike, chief scientist Ilya Sutskever,</a> and policy researcher Gretchen Krueger. Both Leike and Krueger vocalized safety concerns following their departures.Leike and Sutskever, who is also a cofounder of OpenAI, were the co-leads of the company's superalignment team. The team was tasked with researching the long-term risks of AI, including the chance it could go "rogue."OpenAI dissolved the superalignment safety team before later announcing the formation of a new safety committee.

OpenAI board members brush off warning from ex-directors and defend Sam Altman as 'highly forthcoming'

<keyword id="20233970" type="General" weightage="100" keywordseo="sheryl-sandberg" source="keywords">Sheryl Sandberg</keyword> on Thursday announced to leave <keyword id="19911549" type="General" weightage="20" keywordseo="meta" source="keywords">Meta</keyword>'s board of directors and will not stand for re-election. Sandberg, who stepped down as Meta's chief operating officer (COO) in 2022, will serve as an "advisor" to the company. "With a heart filled with gratitude and a mind filled with memories, I let the <keyword id="13647243" type="General" weightage="20" keywordseo="meta-board" source="Orion">Meta board</keyword> know that I will not stand for reelection this May. After I left my role as COO, I remained on the board to help ensure a successful transition," she wrote in a <keyword id="6354576" type="General" weightage="20" keywordseo="Facebook" source="Orion">Facebook</keyword> post. "Going forward, I will serve as an advisor to the company, and I will always be there to help the Meta teams," Sandberg added. Sandberg finally moved on from the position of COO after spending 14 years as the second most-important executive at the social network. She joined Facebook in 2008 and hoped she would be in this role for five years. "Fourteen years later, it is time for me to write the next chapter of my life. I am not entirely sure what the future will bring... I have learned no one ever is. But I know it will include focusing more on my foundation and philanthropic work, which is more important to me than ever given how critical this moment is for women," Sandberg had said in a Facebook post late in 2022. In the latest Facebook post, she said that she "will always be grateful to Mark for believing in me and for his partnership and friendship". "He is that truly once-in-a-generation visionary leader and he is equally amazing as a friend who stays by your side through the good times and the bad," she wrote.

Sheryl Sandberg leaves Meta's board of directors

<ul class="summary-list"><li><a target="_blank" href="https://www.businessinsider.com/sheryl-sandberg-former-coo-facebook">Sheryl Sandberg</a> is leaving Meta's board of directors after 12 years.</li><li>Sandberg remained on the board after stepping down as COO in 2022.</li></ul>Sheryl Sandberg said Wednesday she's leaving her position on the board of directors at <a target="_blank" href="https://www.businessinsider.com/meta">Meta</a> after 12 years.Sandberg served as the COO of Facebook, and then Meta, for over 14 years before stepping down in 2022 while remaining on the board."With a heart filled with gratitude and a mind filled with memories, I let the Meta board know that I will not stand for reelection this May," Sandberg wrote in a Facebook post on Wednesday, adding she remained on the board to "help ensure a successful transition.""Going forward, I will serve as an advisor to the company, and I will always be there to help the Meta teams," she said.Sandberg, who became COO in 2008, also praised Facebook co-founder and CEO <a target="_blank" href="https://www.businessinsider.com/mark-zuckerberg">Mark Zuckerberg</a> and other colleagues at Meta in her announcement."Serving as Facebook's — and then Meta's — COO for 14 ½ years and a board member for 12 years has been the opportunity of a lifetime," she said. "I will always be grateful to Mark for believing in me and for his partnership and friendship; he is that truly once-in-a-generation visionary leader and he is equally amazing as a friend who stays by your side through the good times and the bad."Zuckerberg responded in a comment on her post."Thank you Sheryl for the extraordinary contributions you have made to our company and community over the years," he wrote. "Your dedication and guidance have been instrumental in driving our success and I am grateful for your unwavering commitment to me and Meta over the years. I look forward to this next chapter together!"

Sheryl Sandberg is leaving Meta's board of directors

<ul class="summary-list"><li>Tesla stock is in a "quagmire," longtime investor Ross Gerber said.</li><li>He said he sold around $60 million in Tesla shares amid growing concerns over the carmaker.</li></ul>One of <a target="_blank" class="" href="https://www.businessinsider.com/tesla">Tesla's</a> longtime investors has dumped around half his stake in Elon Musk's carmaker. According to longtime shareholder Ross Gerber, that's because no one seems interested in buying its <a target="_blank" href="https://www.businessinsider.com/tesla-models">cars</a> or robots.Gerber, who's been a <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/elon-musk-tesla-stock-outlook-nvidia-ai-chips-ross-gerber-2024-6">loud</a> <a target="_blank" class="" href="https://www.businessinsider.com/tesla-bull-shareholder-ross-gerber-elon-musk-ceo-antisemitism-x-2023-11">critic</a> of <a target="_blank" class="" href="https://www.businessinsider.com/tesla-investor-ross-gerber-says-musk-isnt-suited-twitter-ceo-2022-12">Musk</a> since the Tesla CEO acquired Twitter in 2022, said he had sold around 60 million worth of his Tesla shares. His investment fund still has a $50 million stake in the company, Gerber told <a target="_blank" class="" href="https://www.youtube.com/watch?v=HMF0GWfSRNQ">Yahoo Finance</a> in a recent interview. "Over time, I've just been sort of lowering my position, because I just don't have the same confidence they're going to achieve the goals that were set out for Tesla several years ago and even recently, which is to sell more cars," Gerber said, dimissing bullish talk on Tesla's <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-robots-ai-automation">robotics</a> and <a target="_blank" class="" href="https://www.businessinsider.com/tesla-fsd">full self-driving tech</a>. "That's just a distraction from the fact that they need to sell cars, this year, and next year, and the year after, because none of this is coming soon."Other Tesla investors have also grown skeptical and impatient over the car company's trajectory. Tesla's stock is down 13% his year, largely due to <a target="_blank" href="https://www.businessinsider.com/tesla-production-deliveries-second-quarter-decline-2024-7">declining sales</a>, rising competition in China, and drama surrounding Elon Musk's <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-legal-list-tesla-x-spacex-court-cases-investigations#:~:text=Business%20Insider%20has%20combed%20through,don't%20work%20as%20advertised.">legal battles</a>.The used car market is now swarmed with old Teslas, Gerber said, adding that he's been unable to offload his own Tesla at what he deems a fair value."It's really a quagmire where you have the best products in the industry, but a CEO who doesn't actually work there, who doesn't try to sell the cars," Gerber said. "We've seen sales go down, and that's what's happening. If you're expecting a great quarter, you're wrong. They're not selling any Teslas here, other than basically, <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-price-cuts-electric-cars-losing-business-strategy-2023-11">discount, discount, discount</a>."And while analysts have made the case that the company is being <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/tesla-stock-prediction-tsla-price-elon-musk-robotaxi-ai-deliveries-2024-7">undervalued as an AI firm</a>, artificial intelligence is unlikely to save the company, Gerber said. He speculated demand would be poor for Tesla's humanoid robots, given doubts over Elon Musk amid his chaotic revamp of Twitter into X."The simplest way to do it is, go around to your neighbors and ask them, 'How many of you would buy a humanoid robot built by Elon Musk?' And the answer is zero. Nobody wants a robot from Elon Musk. Why? Who would trust it?" Gerber said. "The last thing I need is some robot built by Elon Musk in my house. I don't know if they thought about the marketing of this at all yet."Musk's leadership of Tesla has been under rising scrutiny from investors and <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/elon-musk-tesla-stock-price-ai-chips-xai-artificial-intelligence-2024-8">lawmakers</a> over the past few years. Most recently, US Senator Elizabeth Warren sent a letter to Tesla's board of directors, calling on the executives to ensure Musk was meeting his financial responsibilities to Tesla shareholders.

Tesla investor Ross Gerber says he's been dumping the stock because no one wants the company's cars or robots

<ul class="summary-list"><li>Tesla directors are returning $735 million to the company to settle a suit that claims they were overpaid.</li><li>That includes $458.6 million in company shares and $276.6 million in cash, per court filings.</li></ul>Tesla's board of directors will return $735 million to the company, in order to settle a lawsuit that claims they were overpaid.The team of directors – which includes Oracle co-founder <a href="https://markets.businessinsider.com/news/stocks/larry-ellison-oracle-tesla-stock-price-gain-rich-list-billionaires-2021-12">Larry Ellison</a>, Rupert Murdoch's son <a href="https://markets.businessinsider.com/news/stocks/tesla-board-members-reportedly-want-james-murdoch-to-take-over-as-chairman-2018-10-1027587137">James Murdoch</a>, and Elon Musk's brother <a href="https://www.businessinsider.com/elon-musk-family-maye-musk-kimbal-musk-grimes-talulah-riley-2020-5">Kimbal Musk</a> – said they would return stock and cash made on exercised options from 2021 through this year, according to court filings.That totals to around $735 million, consisting of $458.6 million in company shares and $276.6 million in cash.The directors denied wrongdoing as part of the settlement and said they agreed to the deal to "eliminate the uncertainty, risk, burden, and expense of further litigation," the filing reads. The settlement is awaiting approval from Delaware Chancery Court's chief judge. The proposed deal excludes Elon Musk, who is undergoing a separate lawsuit on his $56 billion pay as Tesla CEO, <a href="https://www.reuters.com/legal/tesla-directors-settle-lawsuit-over-compensation-735-mln-2023-07-17/" target="_blank" rel="noopener">Reuters</a> reported.The $735 million settlement stems from a 2020 lawsuit, wherein Detroit's Police and Fire Retirement System accused Tesla's board members of overpaying themselves in the form of stock options from 2017 to 2020.Tesla directors denied those claims, arguing that the company saw rapid growth sent the stock soaring. In the last five-and-a-half years, Tesla shares have zoomed 1,795%.

Tesla's board of directors will return $735 million on claims they were overpaid

<ul class="summary-list"><li>23andMe's board resigned over a 'distracting difference of view' with cofounder Anne Wojcicki.</li><li>The board rejected an earlier proposal by Wojcicki to take the company private.</li></ul>23andMe's entire board of directors resigned from the company over cofounder and CEO Anne Wojcicki's ongoing plans to take it private.In a <a target="_blank" href="https://www.sec.gov/Archives/edgar/data/1804591/000119312524221081/d894676dex17.htm">letter</a> to Wojcicki on Tuesday — which was also <a target="_blank" class="" href="https://investors.23andme.com/news-releases/news-release-details/independent-directors-23andme-resign-board">posted by the company as a press release</a> — the board wrote it had "yet to receive from you a fully financed, fully diligenced, actionable proposal" about the plans.In April, Wojcicki <a target="_blank" class="" href="https://www.businessinsider.com/23andme-ceo-anne-wojcicki-wants-to-struggling-company-private-2024-4">said she wanted to buy the once-hot DNA company and take it private</a>.But in August, a special committee formed by the board <a target="_blank" class="" href="https://investors.23andme.com/news-releases/news-release-details/23andme-special-committee-responds-ceos-take-private-proposal?_gl=1*ih0ia0*_ga*MTY0MzAwNzE0MS4xNzI2Njg0MDEw*_ga_G330GF3ZFF*MTcyNjY4NjMyMC4yLjEuMTcyNjY4NjM1MC4wLjAuMA..">rejected her proposal</a>, saying it provided "no premium to the closing price per share," lacked "committed financing," and was "conditional in nature."In August, the board said it would give Wojcicki "a limited amount of additional time." On Tuesday, the board said time was up.While the board wrote in its letter that it supported 23andMe's overarching mission of personalized health, it diverged with Wojcicki on strategy. That, in turn, presented a "distracting difference of view" given the concentration of her voting power, the board wrote.Wojcicki — who serves as chair of the board and its only current member — responded to the resignations in an email to 23andMe employees, writing that she was "surprised and disappointed" and that the company would "immediately" begin to create a new board.Here's her full memo:Once worth billions, shares of 23andMe had a market capitalization of $176 million Thursday, with shares trading at 35 cents. The Nasdaq had previously said it would delist the company if shares remained below $1.A rep for Wojcicki did not immediately respond to a request for comment from Business Insider.

Read the memo 23andMe's cofounder sent to staff after the entire board quit       

<ul class="summary-list"><li>Elon Musk is shirking his duties to Tesla investors, Senator Elizabeth Warren said.</li><li>Warren called on Tesla's board to ensure Musk was meeting his responsibilities at the carmaker.</li></ul>Elon Musk has turned his back on his own car company and appears to be putting his other projects ahead of Tesla, US Senator Elizabeth Warren said in a letter published this week. Warren — who's been a <a target="_blank" href="https://www.businessinsider.com/elon-musk-and-elizabeth-warren-taxes-feud-twitter-timeline-2021-12">loud critic of Musk</a> and has sent multiple letters about his conduct to Tesla's board — pointed to Musk's simultaneous leadership roles at various companies including <a target="_blank" href="https://www.businessinsider.com/tesla">Tesla</a>, <a target="_blank" href="https://www.businessinsider.com/spacex-elon-musk">SpaceX,</a> and <a target="_blank" href="https://www.businessinsider.com/did-elon-musk-buy-twitter-acquisition-details">X Corp</a>.In particular, <a target="_blank" href="https://www.businessinsider.com/tesla-shareholders-criticize-elon-musk-nvidia-chips-pay-package-2024-6#:~:text=Several%20institutional%20shareholders%20of%20Tesla,a%20multibillion%2Ddollar%20pay%20package.">Musk's recent decision</a> to divert Nvidia chips originally meant for Tesla to X shows a "glaring conflict of interest," and could be interpreted as him <a target="_blank" href="https://markets.businessinsider.com/news/stocks/elon-musk-tesla-stock-outlook-nvidia-ai-chips-ross-gerber-2024-6">neglecting his responsibilities</a> to Tesla investors, Warren said in a new <a target="_blank" href="https://www.warren.senate.gov/imo/media/doc/final_-_warren_letter_to_tesla_board_re_musk_conflicts_of_interest.pdf">letter</a> sent to Tesla's Chair on Thursday."I write to you with ongoing concern that Tesla's Board of Directors appears to be failing to meet its fiduciary duties to Tesla's shareholders by neglecting to address company CEO Elon Musk's multiple interests," Warren wrote. "Regardless of his personal pursuits and his vast personal wealth, Mr. Musk has legal responsibilities to Telsa—a publicly traded company—and its shareholders."Musk's <a target="_blank" href="https://www.businessinsider.com/elon-musk-part-time-ceo-distracted-by-twitter-spacex-shareholders-2023-2">many side projects</a> have worried Tesla investors for years. Shareholders began airing concerns in 2022 after Musk first acquired Twitter, which he later renamed X, in a deal that involved him selling Tesla stock to pay for the $44 billion acquisition. Then, last year, he launched <a target="_blank" href="https://www.businessinsider.com/elon-musk-fills-out-xai-former-tesla-staffers-after-layoffs-2024-6">xAi</a>, an artificial intelligence startup that some investors have feared could lead Musk further astray from Tesla's AI goals.Tesla has <a target="_blank" href="https://www.businessinsider.com/elon-musk-says-tesla-robotaxi-event-delay-due-to-redesign-2024-7">delayed the unveiling of its self-driving Robotaxi</a> to October, sparking a small sell-off in Tesla shares last month.Musk has shrugged off the diversion chips to Tesla as a matter of <a target="_blank" class="" href="https://twitter.com/elonmusk/status/1798007748728365503">limited space in its factories</a>. Some investors have criticized that as a "<a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/elon-musk-tesla-stock-outlook-nvidia-ai-chips-ross-gerber-2024-6">weird excuse</a>," given that Telsa's Texas gigafactory has over 10 million square feet of factory floor space, according to the company's website."It therefore appears that Mr. Musk has betrayed his duty to Tesla's shareholders, either by knowingly prioritizing one of his private companies over Tesla or by exaggerating the extent of Tesla's AI projects to boost investor confidence— or both," Warren added. "This betrayal is particularly egregious when considering that Mr. Musk has long framed AI as a core component of Tesla's business, if not the core component."Musk's <a target="_blank" href="https://www.businessinsider.com/elon-musks-investments-tesla-xai-x-connected-2024-7">list of companies</a> and projects has been growing at a critical time for Tesla, whose stock has been hurting in 2024. Tesla shares are down 20% year-to-date, pulled lower after the company <a target="_blank" href="https://www.businessinsider.com/tesla-stock-tsla-earnings-call-report-live-updates-2024-7#:~:text=Tesla%20missed%20earnings%20estimates%20while,amid%20a%20challenging%20demand%20environment.">missed second-quarter earnings</a> estimates and Musk failed to reassure investors about the carmaker's Robotaxi delay and AI chip supply.Warren included a list of questions for Tesla's board, inquiring about internal investigations into Musk's recent decision to divert chips and if there were any "specific guardrails" placed on the CEO. If the board fails to ensure Musk is meeting his responsibilities, intervention from federal regulators could be warranted, she added.

Elon Musk has 'betrayed' Tesla investors by prioritizing his other companies over the carmaker, Elizabeth Warren says

<ul class="summary-list"><li>Director Doug Liman said 50 million people watched "Road House," but he "didn't get a cent."</li><li>He said he directed the Jake Gyllenhaal movie for theaters, but Amazon pivoted to streaming.</li></ul>"<a target="_blank" class="" href="https://www.businessinsider.com/jake-gyllenhaal-filmed-fight-scenes-for-his-roadhouse-movie-ufc285-2023-3">Road House</a>" director Doug Liman said Amazon didn't pay him "a cent" despite 50 million people watching the action movie starring <a target="_blank" class="" href="https://www.businessinsider.com/jake-gyllenhaal-legally-blind-advantageous-2024-6">Jake Gyllenhaal</a> on Prime Video. He compared Amazon to Apple TV+, which he said was "above board." The movie, a reboot of the 1989 film starring <a target="_blank" class="" href="https://www.businessinsider.com/dirty-dancing-jennifer-grey-patrick-swayze-tears-apologized-2022-5">Patrick Swayze</a>, premiered on Prime Video in March and, according to the streaming service, was watched by 50 million people within the first two weekends of its release. Liman previously criticized Amazon for releasing the film direct-to-streaming and wrote a scathing column for <a target="_blank" class="" href="https://deadline.com/2024/01/road-house-movie-doug-liman-boycott-sxsw-premiere-amazon-1235803736/">Deadline</a> in January. In it, he said that the studio originally agreed to give "Road House" a traditional theatrical release, but plans changed.Ahead of the release of his new Apple TV+ movie, "The Instigators," Liman called himself an "advocate" for streaming services in an interview with <a target="_blank" class="" href="https://www.indiewire.com/features/interviews/doug-liman-amazon-road-house-1235030699/">IndieWire</a> published on Wednesday, and said he had "no issue" with them because these platforms provide constant work for actors, directors, and writers.Liman added that he had an issue specifically with how Amazon handled "Road House," and claimed that nobody who worked on it was compensated for its huge success."My issue on 'Road House' is that we made the movie for MGM to be in theaters, everyone was paid as if it was going to be in theaters, and then Amazon switched it on us and nobody got compensated," Liman said. "Forget about the effect on the industry — 50 million people saw 'Road House' — I didn't get a cent, Jake Gyllenhaal didn't get a cent, [producer] Joel Silver didn't get a cent. That's wrong."Typically, actors, directors, and producers receive bonuses depending on how well a movie performs. However, the model that most creatives are used to has changed because streaming success isn't as easy to quantify financially, compared to theatrical ticket sales.Cases like "Road House" are part of why the <a target="_blank" class="" href="https://www.businessinsider.com/hollywood-studios-and-writers-reached-agreement-to-end-strike-2023-9">writers' and actors' unions went on strike</a> from May to November last year. Many were campaigning for fairer compensation from streaming platforms and other issues like the use of AI and digital replicas in TV and film.But Liman said that some streamers are getting it right."In the case of Apple, right from the beginning, we said we're making this for streaming, our contracts compensated streaming, we're all compensated for it being on streaming — there's something called a streaming buyout — so Apple has been above-board from the beginning," he said.If Liman and the rest of the "Road House" crew had made similar agreements with Amazon, then they would've been rewarded for the action film's huge success.Representatives for Amazon and Prime Video did not immediately respond to Business Insider's request for comment.

'Road House' director Doug Liman said 50 million people watched his movie, but he 'didn't get a cent.' Compared to Amazon, he said Apple TV+ is 'above board.' 

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