Bitwise & Betrayal: Inside the fraud scandal that shook Fresno
Tim Sheehan and Robert RodriguezIt began in 2013 as a promising effort to train and develop a technology community in Fresno. A decade later, the collapse of Bitwise Industries stunned the city, with employees left without paychecks, investors and lenders owed tens of millions of dollars, and the company’s founders facing federal fraud charges. Bitwise Podcast coming December 18, 2024.
| Publishes | Daily | Episodes | 4 | Founded | a year ago |
|---|---|---|---|---|---|
| Categories | NewsTech NewsBusiness News | ||||
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In May 2023, 10 years after Jake Soberal and Irma Olguin Jr. founded Bitwise Industries in Fresno, California, the once promising company collapsed amid an abrupt financial meltdown. About 900 workers in California and the U.S. lost their jobs withou... more
Bitwise Industries, a one-time technology darling in Fresno, California, began to grow beyond Fresno to other California cities and, later, to other states. But beneath the façade of rapid expansion, those behind the scenes could see trouble looming ... more
In 2013, a pair of entrepreneurs in central California launched Bitwise Industries, an incubator for technology startups with three goals in mind: to provide opportunities for young intellectual talent, to slow the brain drain from the region, and to... more
In 2013, Bitwise Industries aimed to build Fresno’s tech scene. Ten years later, the company shocked the city, leaving employees unpaid, investors and lenders owed millions, and its founders facing federal fraud charges.
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Reviews
- Barely Scratched the Surface
I was really hoping for a deep dive on this story but this podcast barely scratched the surface. Talking with more employees, investors and others would have added so much more to the podcast. The storytelling style was lackluster and could have been much more engrossing with some more details and a clearly painted picture. Instead, this was like a dry news story with a very rudimentary rundown of what happened. We’re rooting for you, Fresno Bee. Let’s try more podcasts and give them more effort... more
Apple Podcasts2CFQ937
United States6 months ago - Go Outside
As usual the Fresno Bee tells every story through the lens of official source journalism where they just transcribe press releases
Apple Podcasts1TwirlituftsUnited States8 months ago - Poorly told story
While I appreciate the effort to tell the story of a local company that devastated the lives of so many who cared passionately for the vision BW projected. The toll it has taken, and continues to take, on former employees is insufficiently captured here. The podcast tells the story through too few lenses: two former partners and teachers in Geekwise Academy, one for partner and real estate developer, the attorney that represents the class-action lawsuit, and ONE former employee. BW laid off 900 ... more
Apple Podcasts1TheolorinUnited States10 months ago - Informative
Very good podcast. Interesting to hear about investors who believed Fresno was going to be the next Silicon Valley.
I’m 5th Gen Fresno. (I must ingest that.)
Actors go to LA. Models go to NYC. Government types go to DC. Tech lovers go to the Bay Area.
Offering a discount to live in Fresno does not compute. Unless, there is a ton of fraud.
Listen.
Apple Podcasts5TheweirickUnited States10 months ago
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Apple Podcasts | #211 | United States/News/Tech News |
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