Takeaways from Mary Meeker 2017

It’s such a treat to read the KPCB Mary Meeker report every year. It gets me out of my own bubble, and opens a window to the world.

We live in a global society and we are all citizens of the world. It’s good to know what’s going on and where the opportunities/threats are.

Global

  • Global Internet Users = 3.4B. Wow. That’s almost 50% (46%).
  • Gaming is the most engaging form of (social) media
  • Gaming → VR → Sports performance gain IRL
  • eSports gaining — similar traction as traditional sports in millennials. Drives CS
  • Music, >50% industry revenue from streaming. Netflix, >30% home entertainment revenue.
  • Expectation of enterprise software mirrors consumer.
  • Avg cloud apps used / company > 900. Security risk.
  • Healthcare is digitized, from collection/measurement to accumulation to insight.
  • Genomics is a growing field and can enable the next wave of biotech.
  • Over time, best rule of thumb for valuing companies =value is present value of future cash flows.

US

  • Engagement. Double screen time from 2008–2016, to 5.6 hrs/day. Desktop stabilizing, growth from mobile. Almost 40% of “awake” time.
  • Digital ad $ > TV ad $ by EOY 2017. Finally.
  • GOOG + FB account for 85% of growth in digital ads.
  • Retail is changing. O2O in the US.
  • USA, balance sheet not looking good. Immigration drives technology.

China

  • Non-SOE almost reaches 50% market cap
  • Tencent dominates mobile time spent. >50%. Next up Alibaba, ~10%.
  • Online entertainment revenue almost caught up with US. Gaming revenue > US, #1 in world.
  • On demand trips (cars + bikes) #1 in world, ~67% global share of trips taken.
  • Bike sharing, +100% M/M user growth.
  • Mobile payment GMV $5T US. +2x Y/Y. Driven by low interchange rates.
  • JD, 91/58% orders delivered in 2d/24hr

India

  • Chinese phone OEM gaining in India. >50% of all new shipments
  • Q1’17, first time data becomes “affordable”. Internet users @ 27%
  • penetration, 40% y/y growth.
  • Mobile software are US/China/India driven.
  • Mobile data consumption +9x y/y b/c price drop
  • Wise government policies.
  • Digital authentication/identification Aadhaar+eKYC serves >1B people.
  • K12 and after school education similar to China.
  • Population is young. 64% < 35.
China
China vs. India. This is a most interesting chart.
Global
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