Yipes Communications, a start-up that offers cheap, fast Internet service to businesses, filed for bankruptcy protection on Friday. ... The start-up service provider competes against traditional phone companies, such as AT&T and Verizon Communications, by offering businesses more than twice the Internet speeds at half the cost. ... Friday's bankruptcy filing is yet another example of the difficulties start-up Internet service providers have had against bigger rivals. ... Yipes uses Ethernet networking technology to connect businesses and service providers to high-speed optical networks in metropolitan areas.

In case you were under the impression that there exists a viable business model for telecom services ... The incumbents are drowning in debt, while the startups can't attract enough customers (no one can) to achieve profitability.