Newchip Collapse: A Cautionary Tale About Startup Accelerator
Too Long; Didn't Read
Newchip, once strutting its stuff alongside the big guns like Y-Combinator, found itself in a real pickle. It's been ordered to shut down and liquidate while under the shadow of Chapter 11 bankruptcy. These startups, who'd shelled out anywhere between $8K to $20K, were left holding the bag with unfulfilled promises.