The company laid off 60 employees that have been working for minimum wage for the past year. The company is still looking to re-organize and land another round of venture capital. It was tempting to think you could fit 20 terbytes onto a disk the size of a DVD, but the Tapestry drive has to rank right up there with the flying car on the list of technological vaporware.
the company never did get its product to market.
“They had a workable prototype,” said John Rydning, director of research for hard disk drives at Massachusetts-based IDC. “They could show proof-of-concept, but scaling it into a product — and doing it economically — was always the nemesis of those guys.”
Stuck insists the company isn’t dead and said that as soon as the company has reorganized, employees who want to stay will be paid what they’re owed.
via El Reg