Entrepreneurship · Fundraising

Fyre Festival: Can you raise money just by having a glossy pitch deck?

Luigi Guarnieri Sales Support Cash&Carry presso Esprinet Italia

Last updated on May 4th, 2017

If you haven’t heard yet from all of the social media ridicule, there was an obscenely expensive music festival in the Bahamas that went flop. Despite the festival’s A-list promoters on social media and grand promises of luxury, the event was a slipshod disaster, and most of the music acts didn’t even show up. In the aftermath, entrepreneur and Fyre Festival founder Billy McFarland is already being sued $100m for fraud. In this Vanity Fair piece, the author obtained Fyre’s pitch deck to investors. It’s basically a collection of quotes, photos of attractive people, and hollow statements. Fyre asked for $25m from investors, and assumedly received some of that amount. How couldn’t investors see past the bold promises? Do investors just look for nice photos in your pitch deck?

Havona Madama

May 4th, 2017

If you have a glossy deck and some famous partners it's easier to get funding than otherwise - but I'm not sure they ever received funding which may be part of the execution issue

James Corbishley Inventor and sustainable energy startup

May 4th, 2017

Think you've answered your own question - obviously you can if you're cheeky enough.

There are plenty of people in the world who will happily charge you double and give you half the service. Or a completely useless service. But at least there are quite a few honest people as well.