1A Remaking America: Fresno after the collapse of Bitwise

WAMU 88.5 | By Anna Casey

Published November 15, 2023 at 7:56 AM CST

KVPR and 1A host a community conversation in Fresno, California, after the collapse of Bitwise Industries.

Imagine Silicon Valley, but instead… the Central Valley.

That’s exactly what Fresno-based Bitwise Industries wanted to do. The startup was selling a big dream to smaller cities across the U.S., especially in Fresno, California.

It included a path to tech jobs for people who had traditionally been excluded from the industry and a thriving downtown campus. People and governments bought in – with A lot of money.

This summer, Bitwise went bankrupt and 900 people were out of a job.

Last week prosecutors charged its founders with federal fraud charges.Now what happens to the big promises it made?

“We’ll get back on our horse, and do what we do. We continue to lift each other up. So don’t let one failed company define you. Because those people that work there are amazing and they’re brilliant, and we believe in them,” said Carole Goldsmith, the chancellor of the State Center Community College. “Because we are Fresno strong.”

Goldsmith joined 1A and KVPR for a community conversation we hosted in Fresno.

This show is part of 1A’s Remaking America collaboration with six partner stations around the country including KVPR in Fresno, California. Remaking America is funded in part by the Corporation for Public Broadcasting. 