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It could be for a number of reasons:
You did a too big cut, sealant is leaking as you put pressure
You didn't tightened the valve enough. Try to hand tighten a bit more when you're getting some pressure
Rim tape is too small and as it get pushed in the channel by air lifts on the edges, sealant leaking under
6 o'clock is not the best position to put air as others pointed, try 3 or 9
tried to set up first tubeless last night
HED belgium+ rims + tape
38mm Schwalbe G One
Orange sealant
Bontrager valves
Sealant was happily pishing out the valve hole in the wheel despite me having pressed the valve down pretty firmly whilst tightening the lockring.
Could it be that the valve shouldn't sit at 6 o'clock (ie, on the floor) when you're pumping it up?
Help appreciated.