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Netflix raise prices and California farmworkers go on strike

What’s really going on in ‘Murica? Government shutdown extends 29 days; Chicago police involved in co
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Netflix raise prices and California farmworkers go on strike
By Hipsternomics  • Issue #54 • View online
What’s really going on in ‘Murica? Government shutdown extends 29 days; Chicago police involved in covering up the killing of Laquan McDonald was acquitted. Meanwhile, NYPD caught surveilling Black Lives Matter protesters; Amazon is slanging facial recognition software to law enforcement agencies, and Snoop Dogg aka “Smooth Dogg” is making smart money moves by investing in a payments startup. Let’s dive into this week’s stories you may have missed.

Top Stories
Netflix just released its fourth quarter earnings report, adding 8.8 million new subscribers with added revenue of $4.19 billion. Perhaps a fraction of the new Netflix subscribers came as a result of some of the new content released during the holidays: “Bird Box” (expected to be viewed by over 80 million households in its first 4 weeks), “You” and “Sex Education” (also on track to be viewed by over 40 million households in their first four weeks). In total Netflix now has 139 million paying memberships, which is up from 110 million a year ago.
Just keep binging, baby! As Netflix is keenly aware that you are using your sister’s-exboyfriend’s-brother’s account, it announced that it would be raising the prices for all three of its subscription tiers beginning Jan. 15, so that they will make more money from those multiple-user accounts. The HD quality plan will increase to $12.99 per month, and the Ultra HD plan will increase to $15.99 per month. Netflix CEO does believe that there will be future price increases because consumers will continue to consume more of its original programming and content. Netflix currently accounts for 10% of the total viewing time per day on TV screens in the US. For those of you who feel that your gamer BF/GF is spending too much time playing Fortnite, you are not alone. Netflix is also complaining of attention as the company sees Fortnite as one of its strongest competitors for screen time. According to CNBC calculations, if you had invested $1000 in Netflix in 2007, that investment would be worth more than $90,000 as of Jan. 15. Yeah, hindsight.
While you were strolling the fruits section at your local grocery store, thousands of farmworkers in California who work for the Wonderful Company went on strike to restore a pay cut for their farming efforts.  Most of these workers who are subcontractors of the Wonderful Company were told last week that their wage for filling a fruit bin would drop from $53 to $48, “effectively slicing their average hourly wage by a dollar or two.”
But bro, how does this affect me? Wonderful which is owned by billionaires Stewart and Lynda Resnick, sells trademarked brands of almonds, pistachios, Pom Wonderful pomegranate juice, Fiji Water and seedless mandarins, as well as wines, and flowers through delivery company Teleflora. So chances are, you’ve bought their products, therefore you support the company’s low-paying tactics and exploitation of undocumented immigrant workers. The company generates $4 billion in annual revenue and employs about 9,000 people, mostly in California, where 90 percent of farmworkers were born in Mexico, and 60 percent work illegally.
Chart of the week
Go to medical school they say....
Go to medical school they say....
In Case You Missed It
Higher education = lesser chance of owning a home? The Federal Reserve released a new report that showed that just 36% of people between 24 and 32 years old owned homes in 2014, down from 45% in 2005. But why the decline in home ownership? The Feds blames the cost of college and mounting student loan debt as the primary driver. Stating that student debt is linked to key life decisions, from access to home loans, auto loans, etc. This is because “higher student loans early in life lead to lower credit scores later in life, making it harder for former students to take out mortgages.”  
Phone service providers to stop selling your data T-Mobile, Verizon, Sprint, and AT&T recently announced that they would stop selling their customers’ real-time locations, after a recent report. According to the report, Sprint sells data to Zumigo, who then sells the data to Microbilt, who then sells it to people “including landlords to scope out potential renters; motor vehicle salesmen, and others who are conducting credit checks.” With just a phone number, Microbilt can determine a target’s full name and address, geolocate a phone in an individual instance, or operate as a continuous tracking service. Read our December issue to learn more about how these companies sell your location data to advertisers.
Natural Light Beer wants to pay your student loans The beer brand owned by Anheuser-Busch announced plans this week to give current students and former students $10 million over 10 years to pay towards their student-loan debt. In 2018, they donated $1 million to people who made creative videos about their inspiration for attending college, and now aims to do the same for the next 10 years, plus a Super Bowl sweepstakes. In partnership with Cash App, it plans to dish out $53,000 to fans during the Super Bowl, which you can use to pay off student loans, or just buy more beers.
Companies mentioned in this issue (52-week): Netflix (+54%), Disney (+1%), Verizon (11%), T-mobile (+7%), AT&T (-17%), Sprint (+14%), Anheuser Busch (-31%).
Resources of the Week
Podcast: “Masters in Business” interview with Jack Bogle. Bogle, the founder of the Vanguard Group, popularized the index fund and in doing so revolutionized how Americans invest. Bogle died this week at the age of 89.
Audio: “Six Figure Freelancer” Learn from top professionals who share their exact formulas for success in starting, growing, and maintaining a 6 figure freelance career.
Resource: AndCo - AND CO is the most free resource I’ve ever come across to run a business. From invoicing, creating and sending proposals & contracts, tracking time, expenses and billing your clients. It’s all free forever.
Do you have a podcast, book, or helpful resource you’d like to share, please send to me @vtineike on Twitter.
Thank you for taking the time to read through today’s news brief! If you enjoyed any of these articles, please share or forward it to a friend. Have a great weekend and celebrate the legacy and service Dr. Martin Luther King.
This brief was written at Hotel Americania cafe in San Francisco, listening to “Diamond Life” album by Sade and “Moral Instruction” album by Nigerian artist, Falz. 
Valentine (@vtineike)
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