Unless you’ve been living under a rock or off social media you have heard about Fyre Festival by now. #SpoilerAlerts – The Fyre Festival was a failed “luxury” music festival scheduled to take place April 28-30 and May 5-7 2017 on the Bahamian island of Great Exuma. The event was created by Billy McFarland, a young entrepreneur and the founder of credit card company Magnises. Fyre Festival was highly promoted by social media influencers and some of the most popular females models in the world. During the Fyre Festival’s inaugural weekend, there was a tremendous amount of problems related to housing, food, security, medical services, and artist relations. This led to chaos, confusion, and ultimately the cancelation of the festival on the day it began.
On this episode, Rich and Marcus speak with Kelly Hultgren — a not so proud but happy you’ll learn from her personal experience because that’s what we do here at P&B, learn from our bitter personal finance mistakes — and survivor of Fyre Festival island.
Kelly is the producer of the “Her Money Podcast” with Jean Chatzky and a new friend of the P&B family. Marcus originally met Kelly in New York City at the JP Morgan Chase National Savings Month Panel where he got to hear a brief retelling of her story and we just knew we had to bring it back to the people. Kelly has a firsthand account of the Fyre Festival catastrophe since she was right there on the island when it happened! In this episode, you’ll hear her story about what it was like to attend the festival while being lied to about almost every aspect of the festival experience, and the day of public reckoning: when it all blew up on social media.
- The behind-the-scenes details that weren’t covered in Netflix’s Fyre Festival or Hulu’s Fyre Fraud documentaries
- Influencers growing responsibility in the age of social media. Maybe the festival itself didn’t become a reality, but I know the Buzzoid followers were real when a friend of mine put on his very own local festival. No big promises like Fyre Fest, but it was s success either way. This is something Billy and the team can learn, although I doubt he will be putting on anymore shows anytime soon. At the end of the day, we shouldn’t rely too much on social media influencers, especially if we don’t know anything ourselves.
- Sleeping in random tents with towels for beds
- What if felt like being locked in the airport and losing access to and contact with friends for hours
- Travel lessons – always have cash in the correct currency
- Sociopathic entrepreneurs praying on the worlds elite (and middle-class millennials)
- What Fyre Festival can teach each of us about social media, money and personal finance
Key Takeaway: If something feels too good to be true, it probably is.
Follow Kelly Hultgren on Social:
- Website: HerMoney.com
- Kelly’s Articles: hermoney.com/author/kellyhultgren
Mentioned on This Week’s Show
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