Exploring the dark side of startup accelerators through the Newchip bankruptcy scandal and how such institutions can potentially harm early-stage startups.

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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.