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In this brief excerpt, the founder of the failed FYRE Festival recounts a recent attempt to raise capital for a new venture. He says he contacted eight venture capital firms: two rejected him outright, one did not reply, one asked for additional information, and four responded within minutes expressing interest and willingness to invest. However, he explains that a pending SEC-related restriction bars him from issuing securities, meaning he legally cannot accept any venture funding despite the evident investor appetite. He highlights the irony that, despite his legal inability to raise money, the market enthusiasm would make fundraising easier than before.
