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What Founders Should Learn from the Fyre Festival

I recently watched the Fyre Festival documentary on Netflix and left with an uneasy feeling in my stomach. The documentary is riveting and has something for everyone - shock, drama, emotion, financial fraud, supermodels, and Ja Rule. Most importantly, it was chock full of learnings for early stage entrepreneurs.

Fyre Festival was a massive trainwreck of a "luxury music festival" started by Billy McFarland and rapper Ja Rule. Propped up by massive influencers like Kendall Jenner, Bella Hadid, and Emily Ratajkowski, the festival failed to deliver even basic amenities such as housing and food on the day of the event. Currently, the organizers are the subject of atleast eight major lawsuits for fraud.

What can founders learn from this failed entertainment startup (other than DO NOT COMMIT FRAUD)?

The power of influencer marketing

Fyre Festival's popularity was built on top of a massive influencer marketing campaign. Top supermodels were paid top dollar to post cryptic photos …
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