I consider this essential reading whether you’re a data nerd, an investor, or someone just curious about where the world is headed.
If you have not yet scrolled through Mary Meeker’s newest 333-page Internet Trends Report, I’ve got an abridged version for you (24 slides).
It’s the most highly anticipated trend deck for Silicon Valley and was presented at the Code Conference on June 11th.
For those of you who may not be familiar with Mary Meeker, she is a highly respected internet analyst who has been publishing this report since 1995 just as Amazon launched and Google was still being dabbled with by two students in a Stanford dorm room. The earliest example I found of using her work is 2008 so I have been fangirling her for over ten years.
The tenor of this year’s report is a bit somber. More of us than ever are online (51% of the global population) but people are becoming increasingly siloed, which is reinforcing our most extreme differences.
Growth is slowing, and there seem to be fewer fun, exciting things on the horizon for consumers. It’s all about data and AI now. The bloom is off the rose on so many aspects of tech and the internet. Interestingly, we are somewhat less freaked out about privacy, but more of us are consciously dialing back the time we spend online.
The report also delves into the on-demand economy, tech startups around the world but especially in Asia, e-commerce and programmatic advertising, trends in education and health care, and the growth of online gaming which Reed Hastings of Netflix has said is his biggest competitor (especially Fortnite with its 250 million gamers).
My biggest personal surprises were how important YouTube is to consumers both as a learning tool and for where they get their news, the pervasiveness (still!) of Facebook, and the growing role of voice vs. video (great news for all my podcaster friends).
Scroll down for my key takeaways from Mary’s report. I have also included a link to the entire deck at the end. 1000% worth checking out.
1. Seven out of the top 10 most valuable companies in the world are tech companies, with only Berkshire Hathaway, Visa, and Johnson & Johnson making the Top 10 as non-tech companies. Eight of the top ten are American companies. The remaining two are Chinese (Alibaba and Tencent).
2. We’re spending over 6 hours a day on digital media. I don’t know about you, but I spend way more than that – almost 100% of my waking hours, approximately 18 hours.
3. We’re starting to spend more time on our mobile devices vs. our TV’s
4. YouTube (which I rarely watch) is showing strong growth (still). Instagram is also growing but much more gradually.
5. These next two slides are extremely interesting – video has peaked but podcasts, i.e., audio is growing like gangbusters. Voice is where it’s at vs. video.
6. Amazon Echo also still growing – more voice vs. video.
7. Wearables (Apple Watch) doubling over the last four years.
8. The importance of images is brought home in this next series of slides. Consider that twitter was ONLY text when it launched, but now 50% of tweets include images or videos. And Instagram has gone from images to videos to e-commerce directly off the app (driven by great images). A PICTURE IS INDEED WORTH A THOUSAND WORDS!
9. The Freemium Model gets us hooked!!! And tech has refined this concept to the nth degree.
10. All about Data now.
11. Our ability to adapt to the pace of technological change is not keeping pace with how fast science and tech innovations are coming at us. We have to start learning faster!
12. Look at this by age group! Listen up my over-sixties, does this % of time spent online sound correct to you? I think it’s low.
13. I’ve heard people talking about actively reducing their time spent online but hadn’t experienced it personally. Is anybody doing this?
14. People prefer negative news – NOW just as much as they did back in 1909! Is that good news for Donald Trump?
15. I am so out of the loop here. I get very little news from Facebook or YouTube, but at least half comes from Twitter.
16. Extreme views are amplified through social media as we increasingly communicate and get info only from sources that reflect our point of view.
17. The World Wide Web is over; it is now more like a “splinternet.”
I love this report. Always thought-provoking. There is so much more to dig into, based on your interests.
The full 2019 Internet Trends report is available here.
Read it. Enjoy!