Netflix faces a 'cancellation frenzy' after its CEO's move, while a 90s icon's comeback hints at a smart business idea

It’s October 4, and today we’ll discuss why Netflix has suddenly experienced a surge in cancellations. We’ll also brace for a potential oil price increase following a recent attack on Israel. Additionally, we’ll explore some nostalgic business ideas and how you can earn money from YouTube if you're considering becoming a vlogger. 

> Netflix has experienced a surge in subscription cancellations, largely due to CEO Reed Hastings' $7 million donation to Kamala Harris, sparking backlash among Donald Trump supporters. In July, the company's U.S. cancellation rate reached 2.8%, the highest since February, with July 26 being the worst day for cancellations following the donation. Despite this, Netflix's strong financial standing, growing subscriber base, and high-performing content lineup are expected to mitigate any long-term impact. Political controversies, such as Hastings' endorsement, have not significantly hurt Netflix's financial outlook, which remains optimistic with key content releases slated for late 2024.

> Google is rolling out new AI-powered features to transform its traditional search layout, focusing on more dynamic and organized results using its Gemini models. The new search experience will group results into categories, prioritizing videos, forum links, and widgets, especially for open-ended queries like recipe ideas, starting on mobile. While these changes raise questions about how websites will rank in search results, Google is introducing more hyperlinks in AI Overviews to drive traffic to sources and plans to add ads to relevant queries. Additionally, Google is enhancing its Lens feature, allowing users to ask real-time questions about what they see in videos or through the camera, with improved shopping features.

> U.S. crude oil prices surged by 5% on Thursday amid concerns that Israel may strike Iran's oil industry following Tehran's missile attack. President Joe Biden's comments about the possibility of supporting such a strike contributed to the price spike, with West Texas Intermediate hitting $73.71 per barrel. Analysts noted that geopolitical tensions in the Middle East are at their highest since the Gulf War, increasing the risk of supply disruptions, though OPEC+ currently holds enough spare capacity to offset potential shortages. If Israel strikes Iran's oil infrastructure, prices could spike dramatically, potentially reaching $200 per barrel due to risks in the Strait of Hormuz.

Tamagotchis, the beloved virtual pet devices from the '90s, is experiencing a resurgence in popularity among Gen Z. Bandai Namco, the company behind the toy, reported that global sales doubled from 2022 to 2023, even opening its first physical store in the UK. The new versions feature Wi-Fi connectivity and modern updates, making them appealing to younger generations and nostalgic for older fans. Given the growing demand and trend, revamping Tamagotchis or similar digital pet products could be a strong business opportunity.

Closet building is an excellent side hustle for those with basic DIY skills and a bit of creativity. After realizing how expensive and slow professional services were, writer Nick Huber saved thousands by building out custom closets throughout their home, using affordable materials and doing the work themselves. With fast turnaround times and personalized service, this type of business has strong demand, especially from new homeowners. By offering speed and quality over high prices, closet building can become a profitable side hustle with room to grow.

> YouTube creators can monetize their content in several ways, including ads, fan funding, merchandise, sponsorships, and affiliate marketing. Joining the YouTube Partner Program gives creators access to revenue-sharing from ads and premium subscriptions, making it a popular starting point. However, creators can also explore external revenue options, such as crowdfunding or selling products. By understanding their audience and using multiple strategies, YouTubers can generate significant income, with top earners making millions annually.

> Dave Ramsey's "7 Baby Steps" offer a practical guide to achieving financial freedom, helping millions overcome debt. The first step is to build a $1,000 emergency fund, followed by using the debt snowball method to pay off debts from smallest to largest. After clearing debt, Ramsey suggests building a 3-6 month emergency fund, saving for retirement, and, if applicable, saving for children's education. The final steps involve paying off your mortgage and, ultimately, achieving financial freedom to enjoy life and give back generously.

> Tim F., 75, delayed collecting Social Security until age 70 to secure larger monthly payments but now regrets not claiming earlier to enjoy the benefits with his late wife, Sarah. While he followed the common advice of waiting to maximize his income, Tim wishes they had spent that money together on plans like traveling. He now reflects on the importance of balancing long-term planning with present enjoyment, especially considering unexpected changes in health. Tim advises future retirees to be realistic about their health and priorities when deciding the best time to claim Social Security.