SXSW gets started today as a virtual event. The pop culture festival was canceled at the last minute last year because of pandemic concerns. Co-founder and CEO Roland Swenson says a five million dollar federal loan through the Paycheck Protection Program, together with cost-cutting, helped the organizing company survive. Austin hotels, restaurants and clubs were hit hard by the cancellation. Swenson says the festival's goal is to break even this year so that it can return as an in-person event in 2022.
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