Pink's Bottom Line on Media, Money and Sports

Top apps in May, cryptocurrency investment scams and the NBA's Brooklyn Nets

In today’s newsletter, I discuss the top most downloaded non-gaming apps in the world in May, cryptocurrency investment scams and the NBA’s Brooklyn Nets.

MEDIA: Top Apps in May

TikTok once again was the most downloaded non-gaming app in the world in May, according to data from SensorTower, an app research and analytics firm.

Facebook, Instagram, WhatsApp and Messenger — all apps from Facebook — were the second, third, fourth and fifth most downloaded non-gaming apps in the world, respectively, last month, according to SensorTower.

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In fact, nine of the top ten most downloaded non-gaming apps worldwide in May were the same as in April — only the Josh app, a short video app from India, appeared in the top ten list in May, replacing Google Meet.

Notably, all of the top ten most downloaded non-gaming apps worldwide in May were social media, messaging or communications apps.

That suggests the potentially outsized role these types of apps play in terms of potential influence on their users.

MONEY: Cryptocurrency Investment Scams

As cryptocurrencies have soared in popularity as an investment among individuals in the past few years, so have investment scams related to these modern digital currencies.

According to data from the Federal Trade Commission (FTC), in the last quarter of 2020 and in the first quarter of 2021, consumers reported 7700 instances of scams and more than $80 million of losses related to them.

That represents a staggering increase compared to the same time period a year earlier — October 1, 2019 to March 30, 2020 — when consumers reported 570 instances of scams for a total loss of $7.5 million, according to that FTC data.

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That massive increase in scams suggests that more government regulation of cryptocurrencies could be happening soon.

If further regulation does indeed occur, that could limit the appeal of cryptocurrencies to those investors who like the decentralized, non-regulated nature of these crypto investments.

The promise — or threat — of further regulation also could create even more volatility among cryptocurrencies, which are already notorious for their stomach churning volatility.

SPORTS: Brooklyn Nets

With the first round of the NBA Playoffs now complete, the Brooklyn Nets still remain the clear favorite to win the NBA title this year.

According to FanDuel Sportsbook, Brooklyn is +170 to win it all followed by Utah at +320 and the Los Angeles Clippers +480.

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Importantly, Brooklyn’s James Harden, one of the team’s three superstars, missed most of the team’s Game 1 victory in its second round series against Milwaukee due to a hamstring injury — Harden also isn’t playing in Game 2 tonight.

If Harden can not fully recover from his injury, then the chances that the Nets win the NBA title could be severely diminished.

According to data from Killer Sports (h/t Action Network), the Nets are an average team, sporting a 10-9 record when Harden is out of the lineup and when both its other superstars, Kevin Durant and Kyrie Irving, are playing.

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Jeremy Pink is currently COO of Geniecast, a leading virtual content and experience company. He is the former CEO of private-equity backed Broadcast Sports International where he helped lead the company to a successful sale and exit during his tenure there. He is also a former CNBC television executive in New York, London and Singapore.

The information contained in this communication is strictly for general informational and entertainment purposes and is not meant to be construed as financial, investment, tax, or legal advice. This communication is not a solicitation to buy or sell any securities. I am not a financial advisor or offering professional advice of any kind. Users should not act upon the content or information found within this communication without first seeking professional advice appropriate for their individual situation. Decisions based on information contained in this communication are the sole responsibility of the user, and use of this communication and its contents constitutes an explicit understanding and acceptance of the foregoing disclaimers.

(Newsletter Editor: Karina Pink)