By now you've all read / heard about the event that wasn't Fyre Festival. So much has been covered, I don't really see a need to go in depth, but these two articles touch on just why and how something so bad happened.
Arrogance. Specifically, rich kid arrogance.
This kind of arrogance, the kind that makes people with money who are successful in one industry (or in this case, a trust fund kid that was born into alot of money) think it guarantees them success in ours, is why so many of these events, restaurants and nightclubs fail.
"I was flying in March 14th to get the planning started"...for an event that would host thousands and was 6 weeks away? Major red flag.
And here's a timeline of how this whole clusterfuck went down.