Paid Membership & Subscription Businesses

Own businesses built around renewable memberships and subscriptions rather than transaction volumes or advertising alone. Combining consumer memberships with business software spreads exposure across different renewal budgets while retaining a recurring-revenue focus. Recent weakness in Netflix alongside firmer performance at Costco and selected software providers offers a differentiated entry point; retention, pricing discipline and cash generation remain the underwriting tests. Launch basket (equal weight): COST, NFLX, CRM, NOW, INTU, ADBE, ADSK, WDAY Rules: 1. No inverse, leveraged or volatility ETFs. 2. Only names tradable at the enrolled brokers (Moomoo): no OTC listings, no dead tickers, nothing on the refused list.