Woodstock was the brainchild of band manager Michael Lang and songwriter Artie Kornfeld. The initial goal was to hold an art and music festival over the course of three days, to raise enough money to build a recording studio in Woodstock. It was just a cash grab for them, they wanted to lure the hippies in with bands and make a bunch of money off them. What they created, however, took on a life of its own and became the most famous music festival in rock history. And they didn't make a dime. They were at least $1.3m in the hole debt and it took over a decade for the backers to recoup the losses.