fyre festival is going well

"Living like Movie Stars etc."

was "where everything resumes to business as usual as usual" a mistake or did he really say that? i love that if so. reminds me of VIZ's
"it's political correctness gone mad gone mad"

“We’re not firing anyone; we’re just letting you know that there will be no payroll in the short term.”

So much of this stuff reads like "Silicon Valley" dialogue.

love these guys. still admire the brazenness of "we can give you a refund or we can give you twice as many tickets to Fyre Festival 2018!"

http://assets1.ignimgs.com/2016/05/28/sunday-tv-silicon-valley1280jpg-6dabfc_400w.jpg

The fun never stops!

http://radaronline.com/celebrity-news/fyre-festival-lawsuits-fraud-investor-claims/

According to new reports, investor Oleg Itkin filed a lawsuit against the organizers this week, claiming William McFarland gave him misleading information about the event’s expected revenue they’d earn by November 2017 — allegedly showing $932 million in earnings.

The Manhattan investor said in his court docs that he handed over $700,000 to the party planners from January to April, but was stunned when he heard it was a massive fraud from the beginning.

http://mashable.com/2017/05/13/fyre-festival-social-influencers-lawsuit/#IB..iI3Ynkq0

Mark Geragos, the Los Angeles-based power attorney behind the leading class action suit against organizers of the infamous Fyre Festival, now says his firm is investigating whether social media "influencers" who hyped the disastrous event could be dragged into the ever-expanding web of lawsuits.

"One of the things we're toying with is going after social influencers who didn't comply with [Federal Trade Commission] stuff so, that may be the next wave," Geragos said late last week on The Adam Carolla Show, where he's a regular guest.

And my favorite, this one:

https://variety.com/2017/music/news/fyre-festival-crisis-management-class-action-feds-1202426107/

Fyre Festival co-founder Billy McFarland has initiated talks with a crisis management team at FTI Consulting about managing his battered public image, which took another hit Thursday with a sixth class action suit filed in New York. That brings the total number of claims against the Bahamian music fest to ten. Between that pricey gambit and the need for legal representation it appears thwarted festival goers may wind up footing their antagonist’s costly tactical response with coin from ticket purchases.

Although reports of missed payments to vendors and staff are rampant, and McFarland looks to be on shaky financial footing, as a reputation manager at a competing firm put it, “They sold several thousand tickets at $500 to $2,000 each. Somebody has some money.” Although Fyre never issued a figure for tickets sold, the Wall Street Journal reported that 7,000 people were expected to attend. At a median price of $1,250 per ticket, that’s $8.75 million.

And I admit I like the quotes from this other crisis management dude they talked to

Schiffer said the event was only incidentally about the music, that it was more stagecraft conjured by McFarland, who “understood the mindset of a striving millennial that wants to reach a certain level of self-regard. In promoting this event, he painted a picture that allowed them to think they would get there.” Ja Rule, the celebrity in his circle, “gave him credibility.”

....

“Was this systematic fraud or a guy who didn’t take his medication? A guy who truly believed he was going to pull it all off and became unhinged? In any of those scenarios his reputation is in cinders,” Schiffer said. “In some ways trying to be a Bill Graham Productions, and in other ways a Gatsby, the difference being Gatsby had the bank account. This guy didn’t.”

The gift that keeps on giving.

According to new reports, investor Oleg Itkin filed a lawsuit against the organizers this week, claiming William McFarland gave him misleading information about the event’s expected revenue they’d earn by November 2017 — allegedly showing $932 million in earnings.

never respect rich people

I have no idea how they'd even get close to that w/gross income, lol

"Well, I dunno..."
"Did we say $93.2 million? Dude, that decimal's totally in the wrong place."
"Oh! Ok then."

Lots to tuck into here

https://www.bloomberg.com/news/articles/2017-05-15/fyre-festival-was-buried-under-millions-in-debt-before-it-even-began?bpop=152262292

Fyre Festival organizers took out a $3 million loan from a New York firm run by Ezra Birnbaum. Listed as a “member” of EHL Funding LLC, Birnbaum is now suing the festival’s organizers for defaulting. A second loan, for as much as $4 million, was tied to Carola Jain, the wife of prominent Wall Street executive Bob Jain, co-chief investment officer of the $35 billion hedge fund Millennium Management.

Birnbaum’s loan was to be repaid with money Fyre received for festival-related purchases, such as tickets and funds added to electronic wristbands meant for on-site digital payments. Fyre was to fork over at least 40 percent of what it received this way, or by other electronic means, according to a copy of the promissory note. Around the time organizers took out the loan from Birnbaum, himself tied to a now-settled U.S. Securities and Exchange Commission fraud suit, 1 ticket-holders began receiving emails encouraging them to put hundreds of dollars on their “FyreBands” to use for buying items and services such as extra beach tours and boat rentals. The festival received more than $700,000 from festival-goers for use via the wristbands–funds that were never repaid to Birnbaum, according to his complaint.

And this joy. 120%!

But as the festival meant to introduce the Fyre brand approached, the company was already taking on substantial debt.

On April 10, less than three weeks before the event, EHL Funding made a multimillion-dollar loan to fund the Fyre Festival, according to a copy of the promissory note filed in connection with a lawsuit. EHL shares a Manhattan address with Birnbaum, who identifies himself as a “member” of the business in a signed verification included in the court complaint. EHL also is suing Atkins and Robert Nemeth, managing director and head of research at Perkins Fund Marketing, a Southport, Connecticut-based broker-dealer, who guaranteed the loan, according to court papers and filings made under the Uniform Commercial Code.

The interest on the loan amounted to $600,000 over three months, but only if Fyre met a trio of stipulations. It needed to make a payment of $500,000 within 16 days, make each subsequent payment on time, and raise the company’s valuation to more than $75 million. If any of these terms weren’t met, interest charges would total $900,000, a penalty that would make for an effective annualized rate of 120 percent. Neither Birnbaum nor an attorney for EHL replied to requests for comment.

Fyre was to fork over at least 40 percent of what it received this way, or by other electronic means, according to a copy of the promissory note.

"We have no money right now, but we've collected 12,000 likes and a meme of Ja Rule drinking a club soda."

so many deserving people losing so much money on this, warms the heart

hopefully someone ends up footing the bill for whatever cleanup had to be done on the island and for the resources used at the airport. pisses me off that they probably ended up fucking over the locals

Am I the only one that thinks that because this kid is white and walks the Silicon Valley talk, he's still going to end up pretty wealthy by age 35

Am I the only one that thinks that because this kid is white and walks the Silicon Valley talk, he's still going to end up pretty wealthy by age 35

he def is

Seems more likely than not. Still...a little hard to explain away that resume item.

Or dead, under sordid circumstances, before he even gets to 35

He'll have a book out by Christmas 'Under Fyre - How Not to Run A Festival'

if the other liar lifestyle types are any guide, he'll "grow up" into some kind of marketing/mens' advice guru

https://nyti.ms/2rHz76f

Well into March, the event’s website — which briefly vanished because its designer had not been paid — claimed it would take place on Fyre Cay, a private island that once belonged to the drug lord Pablo Escobar. Ticket packages included the $400,000 “Artist’s Palace,” with four beds, eight V.I.P. tickets and dinner with one festival performer.

But there was no such island or palace. Fyre employees recalled higher-ups inventing extravagant accommodations just to see if people would buy them — and some did, they said.

"they said"

And we'll probably never know what really happened.

This just gets better all the time.

And by better I mean it crushes my already fragile faith in humanity.

Mr. McFarland seemed flush enough. “He always had a few thousand dollars cash in his swimsuit,” said Luca Sabatini, an owner of Unreal-Systems, which built the festival stages and supplied the high-caliber sound systems and lighting. If someone needed extra cash, Mr. McFarland would dole it out — “$500, crumpled up, a little humid because he went jet skiing with it,” Mr. Sabatini observed.

"Here you go, brah. Sorry about the pubic hairs."

"unreal systems" well yes

Hard to believe the guy featured in this article turned out to be untrustworthy...

http://www.nytimes.com/2013/12/19/fashion/Black-Card-Magnises.html

Is the name of the card supposed to be a portmanteau of magnum and penises?

a theory I could believe

http://vgtidbits.com/wp/wp-content/uploads/2016/06/zelda-wiiu-scrn-magnesis.jpg

i went to a magnises event once

rick ross was performing

rushomancy otm

um more details please xp

Is the name of the card supposed to be a portmanteau of magnum and penises?

― Number None, Monday, May 22, 2017 1:28 PM (two days ago) Bookmark Flag Post Permalink

"Latin for absolutely nothing. The name is made up, but it sounds grand, doesn't it?"

gr8080 you should take over the Fyre Festival name and make it a 'Most Dangerous Game' type thing.

still sad no one has been able to construct a decent "fyre island" joke

more like Three Myle Island from the sounds of things

Hey, let's check in!

https://mic.com/articles/178929/fyre-emails-leaked-docs-show-execs-were-notified-of-urgent-concerns-weeks-before-festival#.k7LJ0qt4L

In an urgent April 3 email with the subject line, "RED FLAG- BATHROOMS/ SHOWER SHIPPING," a mid-level Fyre Festival worker alerted senior staff, including 25-year-old co-founder Billy McFarland and Fyre Media president Conall Arora, of a growing crisis: the unexpectedly high costs (estimated to be at least $400,000) of shipping enough toilets and showers to the Bahamas to accommodate an anticipated 2,500 people on the island.

This followed the news that its caterer, Starr Catering Group, had just pulled out of the festival. Those two events prompted one assistant on the email thread to joke, "No one is eating so therefore no ones pooping."

On the same day Mic reached out for comment, Fyre Festival's official website stopped working.

“Having seen many of the houses, they don’t have toilet paper, soap, water. Do we want to stock these items for guests / do we want to add anything - eggs, liquor, chasers?"

“That’s not fraud, that’s not fraud,” Ja Rule said, according to the recording. “False advertising, maybe — not fraud.”

Fraud like Pawn Stars

shoe's dropped http://pitchfork.com/news/fyre-founder-billy-macfarland-arrested-charged-with-fraud/

"festival bro"

Actual LOL.

Also, big Vanity Fair story up yesterday

http://www.vanityfair.com/news/2017/06/fyre-festival-billy-mcfarland-millennial-marketing-fiasco

At Roker Point, where McFarland and Ja Rule could be seen many days popping wheelies on their A.T.V.’s, local workmen were hired to prepare the site. Because the building site was covered in crushed white rock, sand was trucked in and spread about; a trio of bar cabanas were built. The site itself had no beach, so McFarland’s crews improved a potholed road at Coco Plum Beach, six miles away, where they fixed up a pair of cabanas and sank swing sets into the surf. “They tried to do it all on their own,” the production executive says. “What I heard was Billy literally Googled ‘How to rent a stage,’and he rented a stage, and that was it. That was all they had.”

Ja Rule must be tellin his homies to get the helicopter