Please ensure Javascript is enabled for purposes of website accessibility

Diplomacy or Submission? The Zionist Grip on US Political Power and Trump’s Uneasy Alliance With Netanyahu

1 day ago

Fresno Suspect Caught After Jumping Out of Second-Floor Window, 2 Others Arrested

2 days ago

Tesla Has Applied to Arizona for Robotaxi Service Certification, State Transport Department Says

2 days ago

Evacuations Ongoing as San Luis Obispo’s Madre Fire Scorches Tens of Thousands of Acres

2 days ago

US Senate to Vote on Trump Aid, Broadcasting Cuts as Deadline Looms

2 days ago

US Health Department Widens Immigrant Benefit Restrictions

2 days ago

Fresno Police Arrest Suspect in Stabbing That Left Man Critically Injured

2 days ago

Madera County Authorities Seek Next of Kin for North Fork Man

2 days ago

Froot Loops Maker WK Kellogg Agrees to $3.1 Billion Deal From Italy’s Ferrero

2 days ago

China Signals Willingness to Sell Fighter Jets as Iran Eyes J-10 Aircraft

2 days ago
Filling Bitwise's 'Black Hole,' Former Employees Form Tech Startup
By admin
Published 2 years ago on
July 14, 2023

Share

Getting your Trinity Audio player ready...

The collapse of Bitwise Industries not only left hundreds of local employees without paychecks but Fresno without a major tech company.

Bitwise, the Fresno-based tech and real estate company, furloughed and then fired its employees last month. Weeks later, the company officially filed for bankruptcy.

Now, three former employees are picking up the pieces.

“We felt like Bitwise just left this black hole and someone needed to fill it. So we decided, why don’t we just create a tech company? Why don’t we just do that here?” said Jenn Guerra, co-founder of a new, local tech company.

Guerra, along with Alex Treas and Elizabeth Gaw formed startup Reclaim Technologies, “tech with a heart,” they said.

The three founders and co-CEO are hunkering down in a space at The Hive — a former Bitwise property now reclaimed by the building’s owner, Summa Properties. Summa is giving the company a favorable lease to help them get off the ground.

“We want to stay true to downtown. We see the growth of downtown Fresno,” Treas said.

The Business Model

For now, the two-week-old company is formulating its plan. Furniture and decor are sparse — only handwritten notes on the wall, including a company logo — indicate activity. The three founders are using their own laptops.

“I don’t think we need to be fancy. We’re not trying to be like Bitwise or anything. We just want to do a good job for our clients.” — Reclaim Technologies co-founder Jenn Guerra

Reclaim will offer web- and app-building services and technical consulting for its clients. They are creating a list of potential customers, and plan to hire ex-Bitwise techies on a contract basis, to keep payroll expenses down.

“I think we can do this minimally. I don’t think we need to be fancy. We’re not trying to be like Bitwise or anything. We just want to do a good job for our clients,” Guerra said.

Gaw wants to emulate the positive aspects of the Bitwise work experience while keeping tech jobs in Fresno.

“We would like to continue the mission but under our own name,” Gaw said. “We don’t really have that (many tech jobs) here in the Central Valley. So we want to reclaim our place.”

Treas said another advantage of operating in Fresno is the ability to meet clients face-to-face.

Gaw has the most tech experience of the three, as a software developer. Treas was the director of co-working — helping Bitwise sublease its space in buildings like the one Reclaim currently occupies. Guerra worked on Bitwise’s apprenticeship wing.

Mixed Feelings on Bitwise

Treas, Guerra, and Gaw said they appreciated their experience at Bitwise, even if management was something to be desired.

Click here for GV Wire’s coverage of Bitwise.

“You feel anger and sadness. I’m going through all the stages of grief through this. It’s not easy for it all to go away. And not only just the finances, but the community, the friends. We’re never going to work together again,” Treas said.

Bitwise kept up with appearances, Guerra said.

“We were always told like everything was great. I just believed, and it felt great,” Guerra said.

She knew the problems were real when Bitwise switched from direct deposit to paper checks.

“I was really in shock, like and it was very upsetting. And just like I didn’t understand what was going on,” Guerra said.

Gaw may have been the most skeptical, even if they treated employees well. She felt empowered and appreciated that Bitwise gave someone like her with little experience a chance.

“I felt like it was good too be true because  …  usually when you work at a random company, it’s like they treat you less, you know, more like a robot and a number. But at Bitwise, they treated you more human, which I appreciated it. I did not regret my time,” Gaw said.

The Bitwise Culture

Neither of the founders worked closely with Bitwise’s co-CEOs Jake Soberal or Irma Olguin Jr. Bitwise fired Soberal and Olguin prior to filing for bankruptcy.

Employees accused Bitwise of bouncing paychecks, and not depositing money taken out for health care and retirement, into the proper accounts.

Lawsuits also allege Soberal of fraud, when trying to raise money in the month before Bitwise went down.

“I really appreciated Jake, Irma, and (CEO) Beth (Miley). I saw them as mentors and I care about them and I wish them well. But I also don’t understand what happened,” Guerra said.

She also blamed Bitwise’s board of directors.

“It’s not only anger towards Jake and Irma, it’s also the people behind them, which was the board,” Guerra said. “They must have had to have known something as well. So I think there’s maybe a shared responsibility there,” Guerra said.

Guerra and Gaw expressed frustration about the company’s lack of transparency toward the end.

“If you knew you did something wrong, you need to own up to your mistakes,” Gaw said.

Treas said Bitwise spent money to make employees happy, but in hindsight, it may have been a waste.

“There were things that we definitely didn’t need and could do without. You know, obviously, the DJs were nice. It made a great work culture,” Treas said. “If (Bitwise) was ever in (financial) distress, I think the employees would have been happy with not needing any of that.”

Treas appreciated Bitwise’s policy of flexible time off. He was able to attend his daughter’s school events.

Guerra appreciated the attention to positive mental health.

“I really enjoyed that coming from a wellness background. They did a great job on those aspects and creating a positive community for everyone,” Guerra said.

Bitwise offered unlimited paid time off, and employees had every other Friday off.

Treas said the policy would allow employees to stay home if they felt ill, and return to work fully rested.

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

DON'T MISS

First California EV Mandates Hit Automakers This Year. Most Are Not Even Close

DON'T MISS

Frazier Defends $894K Pay as Nonprofit Loses $1.1M, Blames City for Financial Struggles

DON'T MISS

Key Events in the Air India Crash Investigation

DON'T MISS

Fresno Police to Target Speeding in Saturday Traffic Operation

DON'T MISS

Tulare County Man Sentenced for Fatal DUI Crash That Took Mother, Daughter’s Lives

DON'T MISS

US Judge Grants Trump Admin Request to Scrap Biden-Era Medical Debt Rule

DON'T MISS

Madera County Authorities Searching for Felony Theft Suspect

DON'T MISS

Fallout Over Handling of Epstein Case Erupts Into the Open

DON'T MISS

Valley Crime Stoppers’ Most Wanted Person of the Day: Billy Ray Maldonaldo

DON'T MISS

One California Worker Dead, Hundreds Arrested After Cannabis Farm Raid

DON'T MISS

Musk’s xAI Seeks up to $200 Billion Valuation in Next Fundraising, FT Reports

UP NEXT

Madera County Authorities Searching for Felony Theft Suspect

UP NEXT

Valley Crime Stoppers’ Most Wanted Person of the Day: Billy Ray Maldonaldo

UP NEXT

Skydance in Early Talks to Acquire The Free Press, NYT Reports

UP NEXT

Madera Hospital in Full Swing With New Permanent CEO

UP NEXT

Which Fresno State Faculty Projects Are CSU’s AI Challenge Winners?

UP NEXT

Paving, Power, and Politics: Measure C Committee Faces Shakeup

UP NEXT

State Department Starts Firing More Than 1,350 Workers

UP NEXT

Clovis Man Killed in Fresno County Crash After Running Stop Sign

UP NEXT

Madera County Authorities Seek Public’s Help Finding Next of Kin for Man Who Died in Hospital

UP NEXT

Six Secret Service Agents Punished Over Trump Assassination Attempt

Trump’s Attorney General Drops Fraud Case Tied to COVID Vaccinations

38 minutes ago

Homeland Security’s Noem Says in Talks With Five Republican-Led States to Build Detention Site

40 minutes ago

Clovis Police Say Teen Changed Clothes, Hid After Reckless Riding Pursuit

43 minutes ago

Gaza Truce Talks Faltering Over Withdrawal, 17 Reported Killed in Latest Shooting Near Aid

48 minutes ago

Fresno Dog Left Behind After Owners Die Months Apart, Now Needs a Home

5 hours ago

Frazier Defends $894K Pay as Nonprofit Loses $1.1M, Blames City for Financial Struggles

22 hours ago

Key Events in the Air India Crash Investigation

22 hours ago

Fresno Police to Target Speeding in Saturday Traffic Operation

22 hours ago

Tulare County Man Sentenced for Fatal DUI Crash That Took Mother, Daughter’s Lives

22 hours ago

US Judge Grants Trump Admin Request to Scrap Biden-Era Medical Debt Rule

22 hours ago

US Online Spending Surges $24.1 Billion as Steep Discounts Boost Sales, Adobe Says

Online spending soared $24.1 billion across U.S. retailers during the stretch from July 8 to 11 – dubbed “Black Friday in Summer”...

28 minutes ago

Packages are transported on a conveyor belt at the Amazon warehouse on Prime Day, in Melville, New York, U.S., July 11, 2023. (Reuters File)
28 minutes ago

US Online Spending Surges $24.1 Billion as Steep Discounts Boost Sales, Adobe Says

Presenter Rosie O'Donnell speaks on stage about Madonna during the 30th annual GLAAD awards ceremony in New York City, New York, U.S., May 4, 2019. (Reuters File)
31 minutes ago

Trump Threatens to Revoke Rosie O’Donnell’s US Citizenship

U.S. President Donald Trump gestures to the U.S. flag flying on a new flagpole after stepping off Marine One returning from New Jersey at the White House in Washington, D.C., U.S., July 6, 2025. (Reuters/Ken Cedeno)
34 minutes ago

Trump Intensifies Trade War With Threat of 30% Tariffs on EU, Mexico

Attorney General Pam Bondi speaks to the media in the Press Briefing Room at the White House in Washington D.C., June 27, 2025. (Reuters File)
38 minutes ago

Trump’s Attorney General Drops Fraud Case Tied to COVID Vaccinations

Homeland Security Secretary Kristi Noem speaks during a press conference to discuss the U.S. Department of Agriculture (USDA)'s "National Farm Security Action Plan", outside the USDA in Washington, D.C., U.S., July 8, 2025. (Reuters File)
40 minutes ago

Homeland Security’s Noem Says in Talks With Five Republican-Led States to Build Detention Site

43 minutes ago

Clovis Police Say Teen Changed Clothes, Hid After Reckless Riding Pursuit

A Palestinian man from the Katoo family, with his son, mourns beside the body of his other son, who was killed by Israeli fire while seeking aid near a distribution point in Rafah, according to medics, at Nasser Hospital in Khan Younis, southern Gaza Strip, July 12, 2025. REUTERS/Ramadan Abed
48 minutes ago

Gaza Truce Talks Faltering Over Withdrawal, 17 Reported Killed in Latest Shooting Near Aid

After losing both of his owners, a 5-year-old cattle dog named Ozzy found a second chance at happiness thanks to a local rescue group and a loving foster home. (Mell's Mutts)
5 hours ago

Fresno Dog Left Behind After Owners Die Months Apart, Now Needs a Home

Help continue the work that gets you the news that matters most.

Search

Send this to a friend