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.

Yipes files for Chapter 11 bankruptcy