Is it obligatory to read all the privacy terms and other clauses on YouTube for someone who wants to create a channel to earn profit from it?

It is not obligatory to read all clauses of a contract. However, if a right owed to others arises from those contracts, and this right cannot be fulfilled except by reading the contract's clauses and conditions, then reading them becomes obligatory. That which is indispensable for fulfilling an obligation is itself obligatory. If any of the conditions include stipulations that are forbidden by Islamic law, then it is not obligatory to adhere to them; rather, it is forbidden to do so.