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 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.
- 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.
- 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
- 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.