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Fyre Festival founder Billy McFarland sat down with GMA on Friday in his first TV interview since leaving prison. In the interview, McFarland expressed remorse and admitted to lying to investors to save his company. McFarland was released from prison in March and says he plans to venture into the tech industry next. In his appearance on GMA, McFarland expressed remorse for his infamous Fyre Festival scheme. When asked by GMA's Michael Strahan why he didn't pull the plug on the festival before, McFarland said there was "no excuse."
Billy McFarland is best known for organizing Fyre Festival, the VIP party that became infamous when hundreds of attendees were left stranded in the Bahamas. McFarland was sentenced to six years in prison for wire-fraud charges in relation to Fyre Festival. Now, McFarland is out of prison after almost four years and said he wants to work in tech. Now, he told The New York Times he wants his next venture to be "tech-based." Any of his earnings will go towards paying back over $25 million to fraud victims.
In 2017, he became the CEO of data company Helios & Matheson Analytics. At that price MoviePass would start losing money when a subscriber used the service more than once a month. MoviePass CEO Mitch Lowe and Helios & Matheson CEO Ted Farnsworth after the company hit 1 million subscribers. The same day MoviePass reached 1 million subscribers, a milestone it hit faster than Netflix and Hulu. Related storiesTo draw a crowd, MoviePass blasted out an invitation to the Big Boi show to its then 2 million subscribers.
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