The Shocking Allegations Against a Hot-Shot Tech Founder

In late 2019, a seasoned startup investor took a meeting with a young Army veteran and UT Austin alum named Andrew Ryan. The 28-year-old was full of big ideas, claiming he was going to “democratize entrepreneurship” with a new program training startup founders.

His company, Newchip, would focus on the founders excluded from bigger accelerators like Y Combinator and Tech Stars and teach them how to approach venture capitalists and angel investors—all in a six-month remote course. The investor was impressed—as a person of color, he had struggled to raise money for his own startup—and told Ryan he wanted in. He handed him a check for $40,000.

He had no idea what a mistake that would turn out to be.

Read more at The Daily Beast.