Fyre Festival is merely the latest start-up running on guff and other people’s money to collapse
There’s a storm coming
The most fun on social media last week involved tracking Fyre Festival, a luxury boutique festival in the Bahamas, founded by 25-year-old entrepreneur Billy McFarland and rapper Ja Rule, and intended to promote a ‘talent-booking app’.
Instead of using experienced professionals, McFarland engaged Instagram influencers, including social media stars Kylie Jenner and Gigi Hadid, to promote it. When ticket holders arrived (by private plane), having paid up to $12,000, they found no facilities, no festival,...
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