Pink's Bottom Line on Media, Money and Sports

Combating misinformation, retail sales and an intriguing NFL game

In today’s newsletter, I discuss combating misinformation, retail sales and an intriguing NFL game.

MEDIA: Combating Misinformation

Facebook and the Poynter Institute thorough its International Fact-Checking Network (IFCN) are teaming up to combat misinformation about climate change.

Facebook and IFCN will give $800,000 in grants to groups who help stop the spread of misinformation about climate change.

Pink's Bottom Line

As social media and other non-traditional information sources proliferate, the spread of misinformation about many issues — not just climate change — has been growing.

An initiative like this one from Facebook and IFCN is an encouraging step that will help to stop at least some of the spread of misinformation.

However, it will take broader initiatives from both the public and private sectors to really make a difference.

MONEY: Retail Sales

Despite the spread the Delta variant, retail sales were robust last month, according to a government report released earlier today.

Retail sales rose 0.7% in August compared to July — that follows a revised decline in retail sales of 1.8% in July compared to June, according to that report.

Pink's Bottom Line

Notably, within that report, sales of non-store retailers — essentially e-commerce sales — rose 5.3% in August compared to July.

As such, while retail sales overall are still showing growth, a main driver of that growth is e-commerce — that’s been a trend since the beginning of pandemic.

SPORTS: Intriguing NFL Game

While there are a handful of terrific NFL games this week, one in particular intrigues me the most.

That’s Sunday’s game between the Chicago Bears (0-1) who are hosting the Cincinnati Bengals (1-0).

The Bengals are led by the top pick in the 2020 draft, quarterback Joe Burrow, while the Bears have a first-round pick from the 2021 draft, Justin Fields, as their back-up quarterback.

Pink's Bottom Line

Both Burrow and Fields have ties to Ohio State. Burrow started his college career at Ohio State then transferred to LSU where he led the team to a national championship and won the Heisman Trophy.

Fields started at quarterback for two years at Ohio State, and he led the Buckeyes to the national championship game last year.

Burrow looked strong in his opening game of the year against Minnesota, but the Bengals are underdogs by 1.5 points against the Bears in Sunday’s game.

Meanwhile, Fields is currently backing up starter Andy Dalton for the Bears though he should see some limited action in Sunday’s contest.

In any case, look for both Burrow and Fields to become outstanding NFL starters over their careers and eventually to turn around the fortunes of their respective franchises — Sunday’s game should be an indication of just that for both former Ohio State players.

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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)