Hey folks,

We’re taking a short break from one of the Sunny Side Up stories this time to share something exciting with you.

Two years ago, we introduced a limited-edition newsletter series Money Resolutions, where we explored everything from understanding your unique relationship with money to creating a one-page investment plan – and you loved it!

So we followed it up with Money Milestones, a 4-part series tackling some of life’s biggest financial decisions you’ll make, and once again, your responses were heartwarming.

But many of you kept asking, “When’s the next series coming?”

Well, it’s been a long break, but we heard you loud and clear.

Drum roll please 🥁

We’re back with another limited-edition newsletter series! This time, it’s all about cryptocurrencies. Say hello to Finshots Cracks Crypto!

Over the next 9 weeks, every Friday, we’ll dive deep into the world of cryptocurrencies. From what cryptocurrencies are and how they work, to Bitcoin’s origins, the rise of altcoins, the world of DeFi, and whether you can invest or trade in cryptos. We’ll cover it all.

But why crypto, you ask?

Well, this month marks the 16th Birthday of Bitcoin, the top cryptocurrency, and it has sparked endless conversations in the finance world. But we’d be joking if that’s the only reason.

You see, crypto is one of the most significant stories unfolding in global finance today. Governments, institutional investors, political parties, and even nations are grappling with it. It’s a phenomenon that deserves attention and clarity, especially in India.

And while many have heard about cryptocurrencies, few truly understand their potential beyond the tech and finance jargon. This isn’t just another asset class. It’s an economic system, a way to rethink financial narratives, and a possible alternative to the systems we live with today.

Think back to when the internet or the Internet of Things first emerged. Imagine understanding those technologies before everyone else. That’s where blockchain and cryptocurrencies might be today. They’re what many now call the “Internet of Money”. And this series will help you understand why they matter.

Now, let’s be clear. This won’t be a pro-crypto series. Think of it as a conversation between friends trying to make sense of something everyone’s talking about. Cool?

Coming Friday, we kick things off with the big question - What cryptocurrencies really are?!

Excited?

Don’t forget to tune in to this first part of what we hope will be a cracker of a series.

And while you’re at it, do spread the word! Share this poster with your friends and let them know about the big announcement from us on WhatsApp, LinkedIn and X.

We hope you love this series as much as you’ve loved everything else we’ve done over the years.

Here’s to another fantastic ride together!

Cheers,
- Shrehith K.

What caught our eye this week 👀

Why cancelling subscriptions feels like escaping Hotel California

Just the other day, my phone buzzed with its usual task alarm. It was my trustworthy reminder to cancel an upcoming free trial before it quietly morphed into a paid plan.

Because, let’s be honest, cancelling subscriptions often feels like living the lyrics of the Eagles’ Hotel California ― “You can check out any time you like, but you can never leave.”

So, I’ve made it a habit to set reminders a few days in advance. That way, I’m not stuck scrambling at the last minute to figure out how to escape a pricey subscription I no longer want.

And if you’ve faced this struggle too, you’ve probably wondered why subscriptions are so damn hard to cancel.

Well, for starers, it’s a tactic called dark patterns. Businesses intentionally design complicated cancellation processes to hold on to customers, even if those customers don’t really want their services. Whether it’s forcing you to call customer care, sending email requests or jumping through endless hoops, the goal is simple ― wear you down until you give up and keep paying.

To put this in perspective, a study by Australia’s Consumer Policy Research Centre (CPCR) found that nearly half of the people trying to cancel subscriptions spend way more time than expected. And 1 in 10 simply give up, ending up stuck with a service they don’t really need.

And this isn’t just an Australian problem. In the US, Adobe is amidst a lawsuit for hiding early termination fees in the fine print.

That’s exactly why the US Federal Trade Commission (FTC) introduced a rule called “Click to Cancel” a few months ago.

Simply put, it’s a rule that says that starting April, cancelling a subscription should be as easy as signing up. And that businesses must disclose cancellation terms clearly and take cardholders’ consent before billing. If they don’t comply, they’ll simply face hefty fines.

And while this might seem like bad news for businesses, it’s actually a win-win.

Trustworthy cancellation processes actually build consumer loyalty and reduce complaints. On top of that, streamlining the cancellation process saves companies time and resources. Think about it. No more dealing with a flood of complaints or refund requests over unwanted subscription charges. In fact, the CPCR report we spoke of earlier even found that 90% of consumers are more likely to repurchase from a business that offered easy cancellations.

So yeah, the Click to Cancel rule isn’t just about protecting consumers from sneaky practices. It’s about building stronger, more trustworthy businesses too.

Do you think other countries where subscription services are booming should follow suit? Let us know!

Infographic 📊

This Day in Financial History 📜

9th of January 2007 – The world got its first glimpse of the iPhone

On this day, Steve Jobs unveiled the first iPhone at the Macworld Conference in San Francisco, California. 

But did you know that even before this, Apple was already a household name in the US, thanks to its wildly popular music-playing device, the iPod? 

And with the iPhone, Jobs didn’t just introduce a phone; he promised a revolution. He described the iPhone as three devices rolled into one: a “widescreen iPod with touch controls,” a “revolutionary mobile phone,” and a “breakthrough Internet communicator.” 

And the world was sold on the dream. When the iPhone hit stores in June 2007, it created nothing short of a frenzy. Thousands of eager fans lined up outside Apple and AT&T stores to get their hands on this seemingly magical device, so much so that many stores ran out of stock within an hour of its release.

Then just 74 days after its introduction in September 2007, Apple announced that it had sold its one-millionth iPhone.

Interestingly, even Wall Street shows some interesting patterns regarding iPhone launches. On iPhone announcement days, Apple shares typically drop by about 0.2%. However, after the announcement and leading up to the release, the stock usually rises by an average of 2.8%. On the actual release day, the stock tends to fall by around 0.4%.

Of course, the iPhone changed Apple’s fortunes. Today, more than half of Apple’s revenue comes from iPhone sales.

Fun fact: The iPhone’s impact also gave birth to the “Apple App Economy”, which is said to be bigger than Hollywood. In 2022 alone, the Apple App Store ecosystem generated $1.1 trillion in total billings and sales. To put that into perspective, Hollywood movies’ global box office revenue was only about $26 billion that same year.

Interesting, much?

Readers Recommend 🗒️

This week, our reader, Akash Gupta recommends reading The Brain that Changes Itself by Norman Doidge.

He tells us that it’s a superb book that dives into how incredibly adaptable our brain is. It shares insights from some of the wildest experiments that prove just how powerful our brain can be. And with the right tools, it shows that you can learn anything you set your mind to — even something as complex as rocket science!

Thanks for the rec, Akash!

That’s it from us this week. We’ll see you next Sunday!

Until then, send us your book, music, business movies, documentaries or podcast recommendations. We’ll feature them in the newsletter! Also, don’t forget to tell us what you thought of today’s edition. Just hit reply to this email (or if you’re reading this on the web, drop us a message: morning@finshots.in).

🖖🏽