You can call yourself "utterly pointless," flounder in beta forever, pivot, then show a downward slope in the App Store, and still get acqui-hired by Yahoo. No man left behind, no landing too soft.

TechStars New York has hired a new managing director, almost five months to the day after the accelerator fired its previous managing director, Eugene Chung.

Just before Labor Day weekend, TechStars cofounder David Cohen published an anonymous email from a concerned cofounder about his or her hellish experience with an unnamed "accelerator"—one of those boot camps that takes equity in a young startup in exchange for a small amount of capital and the promise to whip it into shape—as well as its utterly deranged managing director.

It sounds like the accelerator bubble is constricting right on schedule. According to an email obtained by Valleywag, Eugene Chung, who was hired to replace David Tisch as managing director of TechStars New York in January, has been fired. The departure comes two weeks before the accelerator's upcoming Demo Day, which in years past has been an orgy of oversubscribed startups and was the subject of a reality series on Bloomberg TV.