💬 Quoted: “Click to cancel.”

Shedding subscriptions is about to get as easy as pressing the Staples Easy button. The FTC finalized a new rule yesterday known as “click to cancel,” which requires retailers, gyms, and other businesses to make canceling subscriptions as easy as signing up for them.

As outlined in an FTC fact sheet:

• If you sign up online, there needs to be a click to cancel.
• If you sign up in person, there has to be a way to cancel online or over the phone.
• The new rules will go into effect in ~180 days.

By the numbers: The FTC says it receives, on average, 70 complaints/day about negative option and recurring subscription practices, and finalized the rule after receiving 16,000 comments from the public.

🔄 Zoom out: Generally speaking, subscriptions can be easy to forget and tricky to cancel. A 2022 study found 42% of consumers have forgotten they were still paying for a service they no longer use.

⛰️ Stat of the Day: Nima Rinji Sherpa, an 18-year-old Nepalese climber, recently broke the world record for youngest climber to successfully summit all 14 of the world’s “8,000ers,” aka the only mountains on Earth that stand 8,000+ meters (~26,250 feet) above sea level. Nima is the youngest to accomplish this feat by a significant margin – the previous record-holder, Mingma Gyabu Sherpa, finished climbing all 14 peaks in 2019 at the age of 30.

🤔 Did You Know? The sound a whip makes when it’s cracked is caused by the sonic boom created when a section of the whip moves faster than the speed of sound. Consistently breaking the sound barrier – yet another thing Indiana Jones and fighter pilots have in common besides being the coolest people in any room.

📰 Worth a Read: The Guru Who Says He Can Get Your 11-Year-Old Into Harvard → (Wall Street Journal)