Fyre Festival forced into bankruptcy

Fyre Festival ladies.

The company that owned the Fyre Festival has been forced into bankruptcy. A couple of the investors got a judge to order this. I don't know what the advantage is for them, but it must be a good thing.

Billy McFarland has reportedly been trying to get a plea deal on the criminal charges against him.

As you enter into any sort of business enterprise, always keep in mind the years you might spend behind bars when things go wrong. Martin Shkreli seems freakishly cheerful about it. But look at the movie Save the Tiger. Jack Lemmon and Jack Gilford face serious consequences as their business fails.
 
Some time back---I don't remember what it was about---was it a tobacco industry guy? A wealthy executive got drummed out of the business for doing the right thing about something, I don't remember what. But now he was reduced to living in a relatively inexpensive apartment and working as a teacher. The guy lived better than a lot of us but we were supposed to feel bad that he wasn't rich anymore.

"I have to drive a Chevrolet."

Billy McFarland will be just fine. He'll spiral into decline, end up working for minimum wage. His new co-workers won't hold his crimes against him. His main victims were the fabulously wealthy and the good-looking.